U.S. Bank is preparing for a future where artificial intelligence takes on more autonomous roles in enhancing customer experiences.

At the recent Consumer Electronics Show (CES) in Las Vegas, the bank’s innovation team focused on agentic AI – technology that operates independently to perform tasks without human intervention.

“We know it’s coming, and we know that these technologies are going to be out there; we just need to find the right ones,” said Don Relyea, U.S. Bank’s chief innovation officer, told the media.

Agentic AI represents a shift toward ‘do-it-for-me’ functions, which could transform customer interactions by offering proactive, automated assistance.

But Relyea emphasized the need for caution, saying, “We don’t want to cross the creepy line.” The bank aims to strike a balance between being helpful and ensuring customers feel comfortable with how their data and interactions are handled.

A History of Innovation

While Relyea declined to provide specific details on when U.S. Bank might introduce agentic AI capabilities, the institution has a proven track record of identifying and implementing emerging technologies. CES has historically been a valuable scouting ground for the bank’s innovation team.

A decade ago, the bank identified the potential of voice technology at CE, a discovery that prompted years of research and development that culminated in the 2020 launch of its voice assistant function in its mobile app in 2020.

That early adoption allowed U.S. Bank to integrate the assistant with popular platforms like Siri, Google, and Alexa, as well as expand its capabilities into Spanish in 2022.

Relyea believes the pace of innovation is accelerating, particularly in AI. “Folks really are putting a lot of money into AI,” he said. “Agentic AI, in particular, is really easy to weave into various customer experiences. You’re just going to see so much innovation happening that, for us, figuring out the ‘how’ is not as important anymore as figuring out the ‘what,’ from a customer experience standpoint.”

Preparing for the Future

Relyea and his team approach CES with a focus on identifying key technological trends that could shape the future of banking. This year, agentic AI was a standout, along with other buzzworthy concepts like the metaverse and smart devices.

“We’re really focused on our customer experience,” Relyea said. “When we see companies that are a little bit more mature in the customer experience design space doing something with agentic AI, those things stand out.”

The potential of agentic AI lies in its ability to simplify and personalize banking interactions, whether by automating routine tasks or offering tailored financial advice. However, Relyea stressed that the implementation needs to be carefully considered to ensure it aligns with customer expectations and privacy concerns.

Innovation on the Horizon

Looking ahead, Relyea predicts a ‘huge wave’ of innovation driven by advancements in AI. And while U.S. Bank continues to explore emerging technologies, the institution insists it remains committed to creating meaningful and intuitive customer experiences.

By keeping an eye on cutting-edge trends at CES and beyond, U.S. Bank is positioning itself to remain at the forefront of banking innovation, blending technological advancements with a customer-centric approach.