What is Conversational AI and how can it revolutionize your business?

Digital Transformation has revolutionized the way businesses operate. Digitization has positively impacted and transformed various aspects of business, right from marketing to recruitment. And one such area that has been revamped because of digitization and IT marvels is customer support.

A successful organization relies heavily on customer support, but customer support has evolved beyond the days when thousands of executives sat behind computers to provide customer support in a dedicated office space. We are now in the era of AI, where almost every business function integrates process automation, including virtual customer service.

The most popular form of Artificial intelligence that has taken the world by storm is conversation AI. But what is all this buzz about conversational AI and is it worth investing in it for your business? Let’s find out.

What is Conversational AI?

Conversational AI is a technology that allows machines to have human-like conversations with customers. In simplest terms, conversational AI is the process of humans and machines having intelligent assistants.

A technology similar to this has been developed for the purpose of recognizing human text and speech, understanding their meaning, and responding in a manner that mimics the behaviour of a real person. In conversational AI, advanced models such as Natural Language Processing, Automatic Speech Recognition, Machine Learning, and even Artificial Noise Cancellation are used.

To make the technology less monotonous, conversational AI has been equipped with the ability to study speech fluctuations and this is how it sounds more like a human. According to studies, it has been found that speech fluctuation is the most common method of expressing emotions and understanding intent.

What are its benefits?

Improved accuracy 

One of the best things about conversational AI is its level of accuracy. The latest development in e-commerce is Conversational Commerce, which allows retailers to deliver end-to-end fulfillment while precisely understanding customers’ intent. Additionally, it has increased customer satisfaction and reduced operations costs dramatically.

With conversational commerce, businesses can orchestrate customer journeys from promotions and product catalogs to payments and customer retention. As a result, the chances of human error are further minimized, and customers have a greater degree of control over the purchasing process.

Reduced customer service cost 

Customers are often viewed as a cost center when it comes to customer support. From training to managing a never-ending list of tickets, every module of customer support adds up to costs. AI can, however, eliminate them from the list by using conversational methods.

Using conversational AI-like chatbot integration, many parts of the customer support process can be automated, especially the most repetitive and mundane. As an example, if your customer support team is always answering questions such as “How long should I use this product?”, it can be fed into the intent list. The next time any customer asks a common question, it will be answered by the chatbot instantly.

Improve customer satisfaction rate 

If you already have a customer support team then you must be aware of the importance of Customer satisfaction in the customer support realm. Customer support is the most basic and important element of any business. No matter how extravagant the advertisements are during a Super Bowl, if customers aren’t satisfied with the service, product, or support, the company isn’t going to benefit from them. 

If your current customer support team is unable to maintain even an average satisfaction, you need to switch to conversational AI. You will be surprised to know that conversational AI can improve customer satisfaction rates by almost 3.5X. 

As conversational AI offers a more seamless and personalized experience, there is no doubt about its effectiveness in keeping customers happy.

Conversational AI for small businesses: The easiest way to get started

AI Chatbots for Websites to Handle High Support Queries!

A conversational AI chatbot can provide round-the-clock, multilingual support to all your website visitors. By leveraging AI, you can accurately understand user intent and respond quickly with relevant information and faster business resolutions. The website chatbot integration can handle repetitive questions so your agents can concentrate on  more personalized queries.

• Reduce Average Resolution Time
• Reduce Operational Costs
• Multilingual support

WhatsApp Chatbot for 24×7 Customer Support

Take advantage of the platform where your customers spend the most time. With WhatsApp Chatbot API, answer FAQs and use live chat to talk to agents for complex inquiries. Set up quick replies, use templates for auto-replies, and improve agent productivity.

• Respond Instantly
• Scale Support
• Live Chat Service

Support Customers

Mobile apps with chatbots for iOS and Android automate repetitive requests and provide immediate customer support. Using Conversational AI, you can answer complicated questions quickly and offer 24/7 support.

• Conversational Support
• Standardize Messages
• Improve Service

Scale Engagement and Support with Facebook Chatbot

A Facebook Messenger chatbot can help you engage with all of your visitors throughout the day and reach a wider audience. Conversational AI that uses Natural Language Processing algorithms will help you gain context, gather consumer data, and respond with human-like interaction.

• Increase Interactions
• Improve Brand Recall
• Capture Customer Details

Instagram Chatbot to Improve CX and CSAT

Utilize Conversational AI for Instagram chat bots to answer customer queries. With robust messaging, you can improve your customer experience and conversion rates by 20%. Your customers no longer need to be redirected to different channels. Regardless of what channel your customers use to communicate with you, your agents have a unified view of everything, with context.

• Quick Response 
• Omnichannel Experience
• High Retention Rates

Conclusion

The use of conversational AI should not only be considered as addressing the work of support staff such as handling product queries and tracking products, but it also has much broader applications. When used to its full potential, these assistants can transform your business and completely change how customers engage with it.