The future of businesses and rules of customer engagement will be dictated by the varying degree to which, it is able to exploit the latent potential of Artificial Intelligence (AI) and the host of path-breaking solutions it comes with. Recent efforts aimed at blurring the line that exists between human and machine interaction, lend the same degree of reliance and enabling a seamless interaction. AI-based platforms conversing with customers or conversational AI’s have truly heralded the metamorphosis of businesses from human-centric endeavors to machine-driven customized experiences.
To ace the game, industries are investing hugely in AI to realize innovative services, spurred by a near-complete acceptance by customers. Personal assistants such as Alexa, Siri, and many others are scripting unimaginable success stories for an organization.
The leap into this arena has been nothing short of phenomenal. Thrust is now exceedingly in building a base by providing, through chatbots and such interfaces, services in native languages! The closer one can envision capturing the collective imagination of a diverse arc of the population while integrating deftly technology with hitherto untouched areas of human life. Personal assistants will rule the roost in mobile-based interactions.
Social media giant Facebook reaped a bonanza by employing chatbots equipped to converse in practically all popular languages. This ability of bots essentially acting as a linguist means enhancing customer base manifold, giving a sense of cultural pride, winning prospective market areas and giving the end-user a regional feel. It all translates to more business and more revenue in the long run.
The ability of conventional platforms to integrate itself seamlessly across technologies is another prominent advantage. Customer can switch to technologies and still find the same comfort of AI-enabled platforms guiding and catering to their specific needs. This is a radical change. Scoring high on customer satisfaction conversational AI transformative role as a key player is paramount.
E-commerce segment has become the de facto market around the globe. Surveys reflect the increasing propensity of buyers to engage across channels even for their smallest need. Eager, information seeking customers, anxious for their next buy, need a 24*7 recourse to navigate them through the nitty-gritty of the process.
AI chatbots serve as the right answer to such requirements, at the beck and call of every prospective customer. Digital marketing is witnessing nothing short of a revolution, thanks to AI-enabled conversations.
For ages language remained a barrier to penetrate markets. With the advent of conversational, ever intuitive AI, at the forefront of business, that high wall has been scaled! Analytical, observational, and decoding patterns in customer responses, the unthinkable has been achieved.
Customers can now rely on suggestions, valuable insights, backed by quantifiable exhaustive data analysis. Such an ecosystem has been carefully cultivated. The trust which was a decade ago, an elusive area, has been claimed. This personalization, customization, and realignment of customer relationship have always been the avowed aim of businesses across the spectrum.
And all these come, not at the cost of revamping the entire business infrastructure, rather it is the ease of assimilation that AI provides, which has enabled it to become the most indispensable element in the system. Not to mention, the economies of scale it brings to the table.
With such far-reaching consequences and the ultimate objective of offering exquisite customer satisfaction, conversational AI has upped the game for all businesses alike. And the gains are for all to share.
With the mobile phone segment striking deeper into every aspect of human life and convergence of technology in the IoT framework, conversational AI has touchpoints in practically every conceivable domain.
Gartner predicts that by 2020, 40% of mobile interactions will be taken care of by smart agents. The embrace between the individual customer need and organizational capability to fulfill it has never been so complete as in recent times. AI inherent art of subtle persuasion inbuilt into the architecture, ensures customer retention. It’s persistence to come up with offer B when offer A fails to satisfy a customer drives growth and reinforces faith. The bulk of customer queries is another pain area for businesses.
A plethora of inbound messages, massive hits in times of surge due to increased sale or points of lowdown, may trigger varied responses and harm quality leading to customer-base erosion. To the rescue comes, conversational AI, capable of absorbing massive volumes. Doesn’t come as a surprise that Gartner predicts that by 2021, 25% of all organizations will employ a virtual assistant for support issues.
Nowhere, before, in the entire history of human communication with machines, have we been able to provide such an immersive, integrative and innovative experience to customers. Machine with the ideal blend of algorithmic acumen and human touch has breathed new life into our lives!