Artificial Intelligence is the buzzword in the Technology world! With Artificial intelligence is useful to fill the gap between the machine and natural human processes. Artificial Intelligence has become a part of almost all sectors of industries and organizations. The field of Artificial Intelligence is vastly unexplored and, yet, today has maximized the capabilities of organizations and help solve various problems in the internal and external processes of an organization. With rapid growth and powerful capabilities, Artificial Intelligence has made its way to all human-like functions and performances. One of its unique feature is empowerment in customer interactions. With around 70% of such interactions using AI and related chat-bots, one of the most common type of Artificial Intelligence is the Conversational AI.
The demand for advanced Conversational AI has increased, and two-thirds of the companies use chatbot or call center along with a Customer Resource Management software. Chatbot, Voice Assistants, Smart Speakers, and Voice Searchers are empowered by Conversational AI. Conversational Artificial Intelligence is useful to make virtual tools and machines engage in human-like conversations within the right context and respond intelligently. Conversational AI has assisted to mimic human interactions, speech and text recognition, and translation services.
In technology terms, Conversational AI employs natural language processing (NLP), Machine Learning and Natural Language Generation (NLG). First, The NLP and machine learning collects linguistic data from the user inputs on websites or applications from voice or text. Second, the input is analysed for meaning and intention. Natural Language Understanding (NLU) is used to analyse text-based input while speech based inputs are analysed using Automatic Speech Recognition and NLU. In this step, Machine Learning and AI tools are used for converting unstructured data to a computer friendly format. Then Dialogue Management and Output if generated using Natural Language Generation (NLG) for responding to the user’s input. Finally, after the output generation, Conversation AI undergoes reinforcement learning. This is useful to improve the quality and accuracy of responses using Machine Learning based on Previous Interactions.
With the use of Conversational AI, digital products are made to have human-like processes and interactions with the customers. Apart from decreasing strain on manual call centers, Conversational AI helps businesses with enhanced customer engagement. Conversational AI offers a customer service in a Human Conversation with Virtual Assistants. With increased customer expectations and demand for better customer service in the future, Chatbot Technology and Virtual Assistants are adopted for Personalized Services, tracking customer journey and gain the right customer insights. Besides helping existing customers with positive customer experience, such intelligent language technologies are useful for customer churn and managing new customer relationships. Apart from relationships with customers and handling customer bases, Conversational AI is useful for increasing operational efficiency.
Apart from on-site Conversational AI, the Virtual Conversational Interfaces help in various aspects of organizational functioning. There are timely and accurate responses to the queries by employees, too. This would ensure a reduce on the strain on relationship management teams. This system, being available for 24/7, decreases the need for tickets, call backs and queues. There is also a cross-channel and self-service across various end points. Empowered with Conversational AI solutions, companies and enterprises become data-driven with newer areas of data on consumer behavior, language and engagements. With prompt responses eliminating wait times, Conversational AI systems enable scalability to many languages and integrates to other systems easily. Along with many benefits, Conversational AI for your business comes with minimal initial investments, with quick deployments along with reduced support costs. This makes Conversational AI become a part of your IT strategy!
Previously, in our YouTube series, Cloud Management with Executive Leaders, we see Ganesh Madda, Chief Executive Officer, US Operations, in a conversation with Joti Balani, Managing Director of FreshRiver.AI. In this episode, they talk about Conversational AI, Challenges associated with its implementation, and how to choose the right platform for the system! Check out that video in our YouTube channel to know more about Conversational AI and recommendations for the same from the expert!