Improving customer experience is ‘very high’ priority: New Vanguard CEO [Video]

The new CEO at Vanguard said Monday that the asset management giant could lean on artificial intelligence as it looks to improve its customer service experience.

Vanguard, which built its reputation as a low-cost and investor-friendly brokerage firm, has seen criticism about its customer service in recent years. Difficulty in reaching a Vanguard representative on the phone is one common complaint seen in online forums.

CEO Salim Ramji told CNBC’s Bob Pisani on Monday that fixing the customer experience is “very high on my list of priorities” and that artificial intelligence looks like a promising avenue for help.

“A lot of the improvements that we’ve seen recently in some of the client experience has been due to applications of machine learning or instances of AI,” said Ramji, who officially took over the top role on July 8.

The CEO pointed to scenario planning and digital onboarding as areas where AI could be helpful.

“We have …