CIOREVIEW >> Artificial Intelligence >>

With Conversational AI, Chatbots are no more

By CIOReview | Tuesday, June 25, 2019

Chatbots have been a great acquaintance for companies, but now it’s time to bid adieu as introduction of conversational AI has taken the role of virtual agents to a whole new level.

FREMONT, CA: Many brands fail to understand the crucial fact that chatbots and conversational Artificial Intelligence are poles apart in terms of technology and functionality before choosing the correct solution for the company. It is a risky move to depend entirely on automated processes to address the organization’s customer interactions without maintaining any balance between technology and human presence.

Chatbots are a pre-programmed customer engaging interfaces that are mainly utilized across messaging platforms to address customer concerns immediately. They are a great fit for many purposes like automating basic tasks but are limited to rules-based algorithms.

Check out: Top Artificial Intelligence companies

Conversely, conversational AI creates avenues for people to talk to machines with natural language processing. It has an array of applications, with the most popular being the ability to interact with customers through a chat window without the necessity of having an agent approve the responses. They are also capable of learning and accumulating an exponential knowledge base. Hence, they can advise and perform tasks on behalf of customers.

The market is overflowing with numerous chatbot vendors, making it a steep terrain to navigate for the companies, especially at an enterprise level. Virtual AI bots are equipped with the capacity to handle 80 percent of incoming queries, of which, a minimum of 40 percent is expected to turn profitable.

Conversational AI formulates a customer-centric schedule to companies along with the provision of availability, personalization, and accuracy. Since some customers find it distasteful to wait for a reply, conversational AI will modify itself to match the speed of the transaction. When virtual AI is deployed to handle the entirety of customer interactions, it will completely resolve all inquiries on the spot or effortlessly forward the call to a human agent. With the addition of the conversational AI and voice technology via a virtual agent, businesses are gazing into the future with a simplified interface, which possesses the potential to transform customer experiences completely.

Few Artificial Intelligence companies: AGM Digital Marketing Agency, Frasil, Hyperlab