How are Conversational AI Platforms Helping Businesses?
CIOREVIEW >> Conversational >>

How are Conversational AI Platforms Helping Businesses?

By CIOReview | Monday, September 14, 2020

Conversational Artificial Intelligence is primarily adopted by businesses to communicate with the world as well as with their customer base. 

FREMONT, CA: It has created a new way to help businesses enhance their understanding of customers’ interests and expectations. Thereby solving customer issues efficiently and improving customer experience. Advances in Artificial Intelligence (AI), Machine Learning (ML), and the increased use of sensors and connected devices (IoT) have led to a revolution. It has completely transformed customer service and experience.

Here are a few advantages of Conversational Artificial Intelligence platforms and how they add value to businesses.

Ability to be Omnipresent

Trends reveal that users are utilizing conversational assistance more than ever in order to interact with brands around the world. These platforms are easy-to-use and solve queries in real-time, which is attracting an increasingly higher number of customers, allowing businesses to connect to their audience more quickly. Think of a conversation between the customers and the representatives of the business. Representatives, in this case, are subject to numerous emotional and physical barriers like fatigue, anger, frustration, boredom, and whatnot. The impact of these limitations displays as the inability to be present in the customer’s service all the time. Also, conversational assistance is free from these restrictions and thus serves customers 24×7.

Increased Customer Engagement

Higher customer engagement means higher opportunities to flourish a business. According to research, customer engagement through social media has helped companies motivate customers to spend 20 to 40 percent more. While these stats emphasize on the power of customer engagement, conversational AI-based chatbots can make B2C as well as B2B conversations more intuitive and more interactive.

Higher Conversion Rate

Virtual assistants can capture consumer information that can be utilized for personalized messaging to ease the buyer’s journey. Powered by Conversational Artificial Intelligence and NLP techniques, chatbots can interrogate customers in a friendly manner, persuade them to purchase and generate a lead for businesses. Virtual Assistance programs engage customers, evaluate their interests, and make sure that the flow of the conversation is going in the direction of lead generation. They, further, can notify concerned teams about potential customers for a higher conversion rate.

See Also: Top NLP Startups