Revolut has launched its first consumer-facing artificial intelligence (AI) product. The new feature, called “AI by Revolut” (AIR), will allow users to manage their finances more conveniently and effectively.
The new AI assistant performs functions such as controlling expenses, tracking investments, managing subscriptions and blocking lost cards directly through chat. In addition, the system also helps with travel planning, creating a budget and purchasing eSIMs within the app.
The service has been launched in the UK market initially. Users can access the assistant by swiping down the screen on the app’s home page.
The company says that AIR does not store user data and only accesses financial information that the user has already seen — transactions, cards and investments.
The new product is part of the company’s recently expanded product strategy and reflects the growing interest in AI solutions in the fintech sector.
