Artificial intelligence may be getting better at understanding customers and responding to their needs, but it cannot replace the human accountability required when financial decisions go wrong, Investec’s Head of Global Brand, Rue Bateman, has said.
Bateman argued that financial institutions should focus less on proving that human employees are warmer than AI systems and more on ensuring that people retain the authority to make decisions and take responsibility for their consequences.
In an article published on November 9, Bateman said the growing capabilities of AI were challenging the traditional emphasis on personal service in financial services, where brands have long built their identities around knowing and understanding customers. Brandspur Brand News notes that the debate has significant implications for banks and other businesses seeking to balance automation with customer trust.
AI tools can now respond patiently to repeated questions, retain information shared by users and deliver recommendations in a tone that appears empathetic.
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However, Bateman stressed that such behaviour does not mean the technology actually experiences empathy. Rather, AI has become increasingly effective at reproducing the responses people associate with emotional understanding.
She said this development raises difficult questions for financial institutions whose reputations depend on promises of personal attention and customer care.
For Bateman, the distinction between providing information and taking responsibility for advice is becoming increasingly important.
AI can generate recommendations and present them confidently, but it cannot personally bear the consequences of a decision. The responsibility for outcomes must ultimately rest with the people and organisations deploying the technology.
This concern is reflected in the concept of the “responsibility gap” in AI ethics, which examines the difficulty of determining who should be held accountable when automated systems influence decisions.
Bateman said customers may be comfortable using AI to access information, but significant financial decisions still require someone who can take ownership of the outcome.
She also warned that simply placing a human employee at the end of an automated process would not solve the problem.
A customer service representative who can listen to a complaint but has no authority to override a system is unlikely to provide the meaningful human judgement customers expect.
According to Bateman, genuine empowerment requires organisations to give employees the authority to make decisions, accept the risks associated with judgement and support them when they act in the best interests of customers.
The argument comes as financial institutions increasingly explore AI to improve efficiency, analyse large volumes of information and simplify customer experiences.
Bateman acknowledged the potential benefits, noting that AI could make financial services faster and more intelligent while eliminating frustrations that have affected customers for years.
However, she maintained that technology should strengthen human decision-making rather than remove responsibility from the process.
Her position builds on Investec’s earlier brand campaign, More Than Data, which emphasised that people cannot be fully understood through information alone.
The campaign’s central idea was that customers have individual aspirations, circumstances and experiences that extend beyond their digital profiles.
Bateman said the growing influence of AI makes that principle even more relevant, arguing that meaningful customer relationships require more than personalised responses.
For financial services businesses, the challenge is not simply to make technology appear more human, but to ensure that customers have access to people who are genuinely invested in their outcomes and can act when it matters.
