Updated: Oct 20, 2021
Since the pandemic, digitization has taken over businesses and how they function. While Artificial Intelligence has transformed our lives, businesses are keen to implement it to solve complex operational and functional tasks. Pulling in Conversational AI, which has become an integral part of businesses across various industries.
The tremendous potential of Conversational AI is benefiting organizations in their marketing, sales and support.
Why is there a thriving demand for Conversational AI in the present market?
According to comprehensive research by Accenture that provides insight into what the world thinks about Conversational AI, 56% of CEOs and CTOs of various organizations agreed to the fact that conversational chatbots are driving disruption in their respective industry and 57% say that conversational chatbots have the capability to deliver a large return on investment with minimal effort.
The popularity of Conversational AI grew as it is empowering companies to be future-ready, improving both customer and employee experience as a whole. Let’s get to the part about how is it doing so?
Benefits of Conversational AI for Businesses
1. Understand Human Factor
Conversational AI has the ability to understand human factors like pauses, repetition, intonation and even sarcasm. These are vital instruments of human communication that are picked up easily by the implementation of conversational AI, making interactions interactive and useful for the customers and businesses.
2. Sentiment Analysis
Modern customer support needs to be adequate for all possibilities and customer psychology is an integral part of the approach. Thus, designed to cover all aspects, an advanced conversational AI also tone processes and analyses sentiments of the customer through NLP (Natural Language Processing) categorizing it as Positive, Negative or Neutral. This helps the conversational chatbot to revert to the customer accordingly.
3. Improve Employee Productivity
Customer Service Representatives are often overworked and thus they tend to be exhausted. Thus, Conversational AI helps to categorize calls on a priority basis and help to pull some workloads. Customer Service Representatives could gain access to the conversation if the Conversational chatbot is unable to help the customer and only address complex queries or concerns of customers without much hassle.
4. Enhance service speed
Faster service is directly proportional to happier customers and better sales, funnel support. By automating manual data entry and maintaining data consistency between channels through conversational AI, departments can solve basic issues efficiently without any human support.
5. Minimize Operating Expenses
Not just automates interactions, but Conversational AI saves money and is great to act as a high-volume driver. It brings a smarter way of communication through messaging apps to easily resolve queries, receives support tickets, allows to initiate drip campaigns, without the involvement of a marketing agency, offers speech-based or virtual assistants etc.
6. Better Conversion Ration
Providing suitable information and updates on time to customers through conversational chatbot boosts sales. Virtual Assistants helps customers to navigate and find the right product or service required for specific industry needs. Conversational AI in business can be called a boon.
7. Easy Scalability
Businesses envision to grow over time and serve a wider audience. However, in the absence of long-term goals and the perception to upscale, organizations fail to comply with the changing workflow. Conversational AI platform provides businesses predictive analysis and open windows to experiment with your product or service based on the analysis.
8. Optimal Data Collection
There is a constant tussle of how to improve your approach in sales and marketing. Technology has always provided a new pathway for the respective departments to offer their customers something new and exciting. Advanced Conversational AI is an amalgamation of various technologies that monitor communication and track customer behaviour, thus drawing information about the interests of the consumer. So, we can say it is efficient to collect Data
9. Omnichannel Presence
The fluctuating nature of the present-day audience requires supports to be omnipresent. Combining both voice and digital functionality, conventional chatbots empowers intelligent automation across SMS texts, messaging apps, social media apps etc. Facilitating seamless conversation for users and businesses.
10. Superior Approach to Global Market
Conversational AI covers all grounds that enables businesses to be proactive in their approach to capture the global market at ease. With multi-language features and 24/7 availability, it can ideal to serve internationally without worry about investing a hefty sum of revenue.
Talking about reliability, Conversational AI in business has rapidly taken up a space that is somehow related to every human being. Think about how frequent you use your Google Assistant or Alexa. So, it is evident that Conversational chatbots are around us and businesses can deploy conversational chatbots to automate workflow and convert prospects into customers.
ORAI is a Conversational AI platform that recognizes the needs and demands of the present market and has devised solutions that smoothen the functioning of a business and accentuate customer relationships.
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