Without a doubt, the purchasing process can be quite cumbersome and time-consuming for lots of customers. This is especially true for people with a busy schedule. To deal with this problem, IBM collaborated with TD Securities to set up an AI-based virtual assistant. IBM Watson Assistant powers this virtual assistant to simplify the purchasing process for all customers.

Notably, this AI-powered virtual assistant is already working with the digital store of TD Precious Metals. This is done through the IBM Garage Methodology, which involves a collaborative system that ensures quick and timely transformation of different areas of businesses around the world. It is noteworthy that TD Precious Metals is not the only company inclined to use AI-powered technologies such as an AI virtual media platform.

How does the AI-powered virtual assistant work for TD Precious Metal digital store?

The digital store of TD Precious Metals is dedicated to helping consumers to purchase gold, silver, and platinum bullion and coins via the online platform. This virtual assistant currently works with the online store of TD Precious Metals and provides comfortable self-service assistance to customers. In other words, customers can take care of their problems on their own from the comfort of their homes.

The virtual assistant is available for customers 24 hours a day, 7 days a week. It provides detailed answers to the frequently asked questions of customers about the digital store. Customers just need to input their questions in the search box, and AI-powered virtual assistance will respond immediately. In addition, the assistant will provide some useful links that can assist consumers to get more help.

James Wolanski, the Managing Director, Head of Retail and Wealth Distribution and Product Innovation of TD Securities, commented on the essence of the AI-powered virtual assistant. According to him, the customers needed an improved digital experience. Hence, the company worked with IBM to create a virtual assistant that can assist customers to be confident about their buying decisions.

However, he noted that TD Securities does not intend to leave everything in the hand of the AI-based virtual assistant. The Support Desk of TD Precious Metals will still be available 24/7 to take care of the needs of customers if the virtual assistant cannot help them.

Daniel Cascone, a leader of the Financial Services Sector for IBM Canada, claimed that businesses must improve their services by utilizing AI-based intelligent workflows. He noted that they are collaborating with TD Securities to take the experience of the customers to the next level. The companies are utilizing the power of conversational AI and other technologies to boost customer experience.

What questions can the virtual assistant answer?

It is worthwhile to understand that the new AI-based virtual assistant is going to answer questions about the shipping, pricing, and delivery options of the products of TD Securities. Some of the questions that the virtual assistant can answer include:

• What are the criteria for determining the prices of products?
• Do customers need to attain a particular minimum or maximum product count or dollar value when buying TD products?
• What are the available delivery options for customers?
• What are the methods for shipping the items?

It should be noted that there are further plans to enhance the use of this technology for answering the queries of customers in other areas.

In addition, many other countries are already planning to take advantage of the same technology. According to the 2021 Global AI Adoption Index of IBM, about 1 in every 5 companies planned to launch some kind of automation software within the next year. This is confirming how many companies are willing and striving to adopt automation of different areas of their businesses.

In fact, AI technology is already in use by some companies for providing answers to time-sensitive issues such as COVID-19. In addition, it can aid how insurers can customize services for their clients and provide more voting information for citizens during an election.

In a nutshell, the collaboration between IBM and TD Securities is just the beginning of the use of AI-powered virtual assistants. The use of this technology is bound to cut across different industries and companies in the future.