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China Bank Launches Outlet Completely Run By Robots, Making The Entire Experience 'Personless'

Shewali Tiwari
Shewali TiwariUpdated on May 02, 2018, 13:13 IST

Artificial intelligence and machine learning are not just random jargons coined by industry experts. They mean something to you, your career and your kid's future. AI-powered technology has already claimed many jobs that were once in the domain of human force. 

The way we are obsessed with robots, it's hard to tell that these man-made machines are here to take our jobs and they have already begun. 

We have plenty of unstaffed convenience stores around the world where there is no cashier, no one to assist in the otherwise empty bays reducing human interaction as much as possible. But in what looks like a first, banks are now eyeing the same thing.   

China Construction Bank (CCB), which is also the nation’s second-largest lender by assets, opened one outlet this week purely managed by technology, meaning facial recognition (FR), artificial intelligent (AI) and virtual reality (VR). 

The bank has installed 1,600 smart machines at its 360 branches to ramp up its appeal of being a tech-savvy bank and ensure that customer retention sees a good hike. When someone enters the bank, they are welcomed by robots at the front door that answers queries. 

These robots aren't the only highlight of the bank, they have smartly automated tellers offering a variety of service like account opening, money transfer, foreign exchange, gold investment and the issue of wealth management products. According to the bank, the new equipment will be able to handle over 90% of their cash and non-cash demands of traditional banking. 

Even though this is the future and this is how most things will operate in the near future, most people are quite apprehensive towards the new set up and aren't ready to make the change, just yet. 

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