Conversational AI: Improved Service at Lower Cost

What are the benefits of conversational AI?

The best AI chatbots have the capacity to integrate to third party software, such as CRM, HR platforms, or inventory management tools. Therefore, when choosing a site search, it is essential to ensure that the solution has the capability to understand human language. Inbenta’s Search module is powered by Symbolic AI and Natural Language Processing technology, which enables it to understand the meaning of users’ questions regardless of slang, jargon, and spelling. Designing an advanced AI chatbot is a tricky exercise that cannot be improvised.

But the reality is that some customers are going to come to you with inquiries far simpler than others. A chatbot or virtual assistant is a great way to ensure everyone’s needs are attended to without overextending yourself and your team. AI technology can effectively speed up and streamline answering and routing customer inquiries. By 2030, chatbots and conversational agents will raise and resolve a billion service tickets.

What Is Conversational AI, and How Does It Work?

The first key is to use a platform your customers are already familiar with, and one that includes the features you need. This trust gives you tremendous authority by implementing a chatbot or other type of conversational AI program. One of the primary reasons for conversational AI is to save time—it’s one of the fastest ways to improve work performance. Another obvious benefit of conversational AI is automation—instead of hiring extra staff, you can rely on bots to do it for you. Conversational AI can ensure personalization follows the customer across platforms for a seamless experience.

conversational ai definition

Virtual agents are sometimes designed to appear as animated characters or given a designated identity representing a human service agent with a name and face. Virtual agents can also act in the background and handle text-based customer interactions posing as a real human agent for some conversations or parts of it. A seamless transition between virtual / human agent and continuous support of the human agents through AI is key for customer satisfaction.

Set Guidelines Chatbot

With the growing need to use omnichannel capabilities, some businesses try to deploy solutions and build-in their own features without playing on their strong skills. The size of your search bar depends on its importance on your site and the expected length of a typical query. If the field is too short and only a portion of the text is visible, there will be bad usability as customers can’t review or edit their query.

HR teams may not have the time to reply to all employee demands, and many businesses have optimized their Intranet to provide this information, but time is still wasted searching through FAQs to find help. Banks and financial services have accelerated the use of digital technologies to find new ways to meet customer demands. Those banks that are efficiently deploying Conversational AI with seamless, personalized and contextual capabilities are gaining a competitive edge in their sector. Customers may want to use self-service for numerous tasks, such as tracking a package, requesting a quote, or paying a bill online without having to talk to a human agent at the company to carry out these actions. By engaging proactively with customers, there is less risk of shoppers abandoning their purchase, and can substantially improve customer satisfaction rates and brand loyalty.

The discrepancies are so few that Wikipedia has declared – at least for the moment – that a separate Conversational AI Wikipedia page is not necessary because it is so similar to the Chatbot Wikipedia page. People now expect self-serve customer care, omnichannel experiences, and faster responses. And it’s impossible to meet these expectations conversational ai definition without the help of conversational technology. Chatbots fall into the category of conversational AI if they use machine learning or NLP. The quality of ASR technology will greatly impact the end-user experience. Therefore, it’s important when evaluating Conversational AI applications to inquire about the accuracy of its ASR models.

conversational ai definition

Other companies explore ways they can use chatbots internally, for example for Customer Support, Human Resources, or even in Internet-of-Things projects., for one, has reportedly launched a chatbot named Mila to automate certain simple yet time-consuming processes when requesting sick leave. Other large companies such as Lloyds Banking Group, Royal Bank of Scotland, Renault and Citroën are now using automated online assistants instead of call centres with humans to provide a first point of contact.

How Can a Conversational AI Platform Help Your Business?

Machine learning is exactly what it sounds like—it’s the process of machines using algorithms to parse data, learn from that data, and then apply what they’ve learned to deliver relevant answers. As messaging becomes increasingly popular, businesses should learn how to best leverage conversational AI for customer service. That means understanding how conversational AI works, how it benefits customers and agents, when to use it, and how to best optimize it for CX. Voice automation is commonly used for smart home assistants such as Alexa, Siri, and Google Assistant. However, voice automation also has applications in various sectors of business.

This way, customer satisfaction remains high, support costs go down and revenues grow. Importantly, these new platforms allow you to take advantage of advanced NLP technologies to optimize your FAQs into a proficient chatbot experience can be delivered in weeks instead of months. Additionally, human language includes text and voice inputs that can easily be misinterpreted such as sarcasm, metaphors, typos, variations in sentence structure or strong accents. Programmers must teach natural language applications to recognize and understand these variations. During these interactions, we interpret, understand, process and use words.

Typically, by a chatbot, we usually understand a specific type of conversational AI that uses a chat widget as its primary interface. Numerous factors can influence human-machine communication, ranging from languages, dialects, and accents to sarcasm, emojis, and slang. Conversational AI systems must stay current on what is normal and the “new normal” in human communication. These assistants employ ASR and NLP but have limited dialogue management capabilities.