| Link(s): |
| Embracing AI’s transformational impact on consumer complaints – Financial Ombudsman service |
Context
FOS Chief Operating Officer, Marc Harris, looks how the changes and re-shaping as a result of AI are impacting the complaints, questions and experiences that consumers bring to FOS. AI is reshaping the world at remarkable speed; from the way people access services to the way businesses design and deliver them. In financial services this trend is no different. FOS is sharing its early insights into how AI is influencing the consumer complaints landscape and how it is adapting to meet both the opportunities and challenges ahead.
Key points to note and next actions
As the UK’s dispute resolution service for financial services, FOS’ focus is to resolve complaints fairly and efficiently, while ensuring the system works for everyone, including the most vulnerable people.
The article comments on:
- Consumers’ use of AI is fundamentally changing the complaints we see
- Professional representatives and their use of AI
- AI’s growing role in financial firm’s operations
- How FOS is using AI with human judgement at the core
- A system wide challenge that requires sector-wide collaboration
The article introduces the FOS Business Support Hub and its AI Principles.