Banks and customer service and IVR

Why has IVR technology still not gone obsolete? And why is it so painful? Some of the newer companies have invested in chatbots and auto resolution - but these IVRs remain as irritating as ever.

Ok, IVR cannot be changed, can it be made better? At the point when your customer is (most likely), upset do you really want to spam them ads?

And irritating music? And make them wait for ever with a mourning tone of "Your call is important to us, yet, all our customer services executives are busy" or something like that?

But more importantly, why is this technology still around?

Resistance to change? Who cares? Low on priority?

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