The ability for humans to engage with machines provides customers with quick responses to common questions and frees up employee time to deal with business-driven solutions.
We’re exploring why and how Conversational AI Cloud boosts businesses and creates satisfied, loyal customers.
What is Conversational AI?
Conversational AI is where Natural Language Processing (NLP) is combined with traditional software – Chatbots, voice recognition systems, or voice assistants – as a way to communicate with your customers to assist them. This can be done through a voice or typing interface.
Chatbot vs voicebot vs Conversational AI
- Chatbots and voicebots are dynamic self-help tools that improve customer experience – as does Conversational AI. However, Conversational AI takes it even further. It includes the tools and programming which allow the computer to mimic human conversations.
- A Chatbot is an AI assistant program that can – although doesn’t always – use Conversational AI to communicate with customers.
- Similarly, a voicebot is an AI assistant that uses Conversational AI to communicate with customers. But unlike the Chatbot, the voicebot works on voice commands and directives.
What are the components of Conversational AI?
Machine learning (ML)
Machine learning is a sub-field of AI consisting of features, data sets, and algorithms that continuously improve themselves over time. As the input increases, the AI platform better recognises patterns to make predictions.
Natural language processing (NLP)
This forms part of ML which focuses on the language element, essentially so that the software can better engage with humans. The unstructured data is transformed by NLP into a format that can be read by a computer. Once done, this information is then analysed so that the machine can provide an appropriate response to the question asked.
How does Conversational AI work?
- Step 1: Input generation: Consumers input data through a website or app in the form of a text or voice.
- Step 2: Input analysis: If the input is in text format, then the Conversational AI will use natural language understanding (NLU) to decipher the meaning. If the input is in speech format, then NLU will combine with automatic speech recognition (ASR) to analyse the data.
- Step 3: Dialogue management: Natural language generation (NLG) formulates a response to the question asked.
- Step 4: Reinforcement learning: The ML algorithms refine the responses to improve accuracy over time.
What are the benefits of the Conversational AI Cloud?
This innovative technology, when effectively incorporated into business operations, boasts several business-enhancing benefits. Here’s a look at some of them.
Minimises staff pressure
With Conversational AI, your customer queries can be resolved without the need for a human agent. This means staff is not spending time unnecessarily fielding endless frequently asked questions when they could be focusing on more important daily tasks.
As Conversational AI interacts with your customers, it’s also able to gather data related to every individual customer by tracking the communication, customer behaviour, and more. This information is incredibly useful for your future business operations as you’re able to customise your marketing campaigns, pick up on revenue-boosting trends, and pick up with customers where you left off so there’s no inconvenience.
While a Chatbot can give customers the information they require, the type and amount of information are limited and the interaction is robotic – as the name suggests! Because Conversational AI has ML, it can learn from every new interaction and adapt to more complicated experiences and queries over time. Customer satisfaction is drastically increased because of the more authentic and useful interaction.
The modern customer wants to access answers to any question immediately. They are not going to wait while a call centre employee responds to an email query or eventually calls them back. Fortunately, with Conversational AI, there is 24/7 availability to your business – without impacting your staff.
If your business operations start to expand, and you’re considering multiple locations or are simply fielding more customer queries, then Conversational AI is the perfect addition. It’s able to scale up – or even down – as required, without the need for re-training of new staff members every time. This is also useful for peak times such as the holiday season.
Investment in software innovation is a cost-effective option in the long run. With Conversational AI, you’re not having to invest in a massive staff to meet your customer demands. The technology can act as a virtual agent and save you on costs. Expenses related to salaries, infrastructure, and training are all diminished.
With all your customers' urgent needs being met on time, with customers engaging with your business on a user-friendly platform, and with your 24/7 accessibility, your business is benefitting from delighted customers. This results in increased customer loyalty and retention and drives more conversions for your business in less time.
How industries can benefit from Conversational AI?
Do you think that technology like Conversational AI Cloud won’t work in your industry or your business? This software can enhance business operations across several industries. These include (among others):
- Travel industry – Tourists can field questions, book accommodation, shows, and other activities through Conversational AI. It can also generate leads no matter the time difference.
- Education - Contact students with notifications and alerts, share results, and more.
- Property – Engage with active property seekers, schedule viewings, and share documents to facilitate property sales.
- Financial industry – Share personalised information and financial tips directly with customers, provide secure payment methods or locate ATMs and local branches.
- Hospitality industry – Check the room availability and prices for local accommodation, and get information about the best restaurants, events, and shows in the area.
- Logistics and Transport industry – Conversational AI can handle a magnitude of queries and assist customers with real-time delivery tracking.
- Health industry – Medical practitioners can now share appointment reminders, and notifications, and share the necessary patient documents through Conversational AI.
- Ecommerce industry – Facilitate omnichannel eCommerce experiences through Conversational AI, field product queries and take advantage of marketing opportunities through customised sales and discount notifications.
- Automobile Industry – Find the nearest car dealerships and get all the relevant on cars and prices, share documents, and more to secure a car sale.
- Sales and marketing - All industries will benefit from the personalised engagement and immediacy of Conversational AI with an enhanced user experience and a faster turnaround time.
How can CM.com help your business?
CM.com will allow you to deliver an exceptional customer experience and self-service through its Conversational AI Cloud. You can customise your intelligent conversations through your preferred user interface, whether it’s a Chatbot, voicebot, knowledge base, virtual agent, or fully conversational website.
With CM.com’s Conversational AI Cloud, you’re enjoying technology that is:
- Easy to use
- Created by experienced individuals
- Exact through continuous learning and improvement
Contact CM.com to find out more about Conversational AI and drive more conversions in less time!