As most employees work away from the infrastructure built, the issue they face now is in maintaining their existing levels of client engagement digitally. To this end, Conversational AI—though a nascent technology—can be deployed across multiple channels to proactively interact with customers, introduce new products, respond and resolve customer issues in near real-time; in a completely contactless manner.
Fremont, CA: In recent times, the term “Conversational Artificial Intelligence (AI)” has been cropping up with increasing frequency owing to the seismic shift in business structure, models, strategies, and operations. As the pandemic impelled companies to accept remote work culture, business processes across the board had to undergo a complete overhaul—customer service and engagement being a primary example.
While customer acquisition, engagement, and retention have always been a top priority for organizations regardless of the industry and an area of brutal competition, the events of 2020 introduced new challenges into the system. As most employees work away from the infrastructure built, the issue they face now is in maintaining their existing levels of client engagement digitally.
To this end, Conversational AI—though a nascent technology—can be deployed across multiple channels to proactively interact with customers, introduce new products, respond and resolve customer issues in near real-time; in a completely contactless manner. Listed below are some of the ways these AI-driven chatbots can help your business up the customer service ante:
One Technology, Multiple Applications—Across Industries
AI-enabled conversational bots are being widely deployed in many industries, given their versatility. In Banking and Financial Services, chatbots enable customers to accomplish multiple tasks like queries related to account balance, bank statements, depositing, saving, and transferring funds, investments, etc. Similarly, in the world of Insurance, virtual assistants are being used to provide instant responses to customer’s queries regarding plans and policies, benefits and coverage, pricing, payment plans, and more.
Furthermore, companies in the airline industry use virtual assistants to keep their customers updated on bookings, web check-ins, and flight detail. A recent study showed that 57 percent of marketing firms were using chatbots. Hospitality and Telecom are two other sectors that are making a significant investment in this technology due to its capabilities. Given that these sectors thrived on face-to-face, in-branch engagements, this technology has allowed companies to foster a sense of self-service in customers while ensuring engagement and sales.
Conversational chatbots can be extremely helpful for businesses that are either looking to expand or have a global presence. As only 40 percent of the world’s population speak the English language, companies must interact with customers in their local language to ensure engagement.
Multilingual bots help companies do just that. With these bots, companies do not need to hire and train employees from the region they are expanding into or invest in outsourcing the customer service process to third-party based out of that location. This helps save time and a significant amount of financial investment.
Using Digital Assistants at the Workplace
In a corporate setup, digital assistants can help employees perform tasks such as facilitate easy mail searches, manage meetings, assign tasks, access data, and run different applications without any hassle. By taking away some of the menial work, these bots can allow your workforce to focus on tasks that matter.
One can expect conversational AI technology to be deployed across industries in a more advanced manner in the coming years. In fact, several reports predict the chatbots market to reach USD 102.29 billion by 2026 from USD 17.17 billion in 2020.