The bank is in a transitory stage as it pushes to revamp its operations and go digital.
Brian Chin, the global markets chief executive of Credit Suisse AG has disclosed, that the Swiss bank has deployed twenty robots within the bank, some of which are helping employees answer basic compliance related questions.
While delivering a lecture at the Milken Institute Global Conference in Beverly Hills, California, Chin said the development is likely to help reduce the number of calls received by the bank’s compliance call center by 50%.
The technology is similar to Amazon’s Alexa voice system.
Although Chin referred to them as robots, it isn’t clear if the technology has a physical presence and how exactly employees interact with them.
“You ask it questions and it spits out the appropriate regulation, rather than going to a manual or a website,” said Chin. “It’s been really good for simple questions.”
Although technology has allowed Credit Suisse to cut back on its staff headcount, the total number of employees has remained unchanged since it has hired a large number of programmers.