AI Case Study
Toronto-Dominion(TD) Bank plans to offer personalised recommendations for its customers using deep learning
TD Bank acquires Layer 6 to predict customer needs and offer personalised products using its deep learning platform. According to Layer 6, the platform is one of the best in coming up with recommendations for new users (cold start).
"Layer6's AI platform is optimized to handle predictions on noisy data and to offer product recommendations, next best action, personalization and prediction of attrition. Transaction history, customer profile, product descriptions, and third party data may be incorporated into the prediction, as appropriate.
The platform is capable of engaging in both internal business processes and customer facing products. Example use cases include product recommendations, next best action, personalization and prediction of attrition.
Layer 6 AI’s Deep Learning platform allows you to:
1. Seamlessly leverage all your data
All data categories (interaction, behavior, context, content, profile, location) and all data types (visual, audio, text, numeric) can be incorporated to drive personalization.
2. Solve the “cold start” problem
New customers, content and products without any interaction data history no longer pose a challenge.
3. Utilize real-time data
Incorporate data from the current user session and context (device type, location etc.) in real-time, instead of relying solely on historical data from prior sessions."
Content-based Neighbor Models
TD Bank acquired the startup in an attempt to raise the customer service bar by anticipating their preferences
"Transaction history, customer profile, product descriptions, and third party data"