Banks’ Growing Reliance on Chatbots to Handle Customer Service Tasks Worries Consumer Watchdog

Artificial intelligence is trying to learn how you think and respond so that your behaviors can be better predicted and manipulated. Alexander Limbach/Shutterstock

The Consumer Financial Protection Bureau (CFPB) have warned about banks’ growing use of generative artificial intelligence (AI) chatbots to handle routine customer service requests.

The CFPB is worried that banks or loan-servicing companies may cut back on human customer service employees and push increasing routine tasks to AI.