Article | June 23, 2021
Customers feel connected when they have a one to one conversation with the seller. It makes the product/service look promising and convincing to them. But it is impossible to provide one on one interaction to every buyer. It requires a bounty of staff and resources. And God forbid if the product/service does not succeed, all efforts go down the drain. Thus, there should be a permanent solution to provide personalization to the buyer, which takes minimum costs.
This solution is named Conversational AI. This is a budding conversational sales and marketing strategy that is of immense potential. A simple example is Chatbots. Chatbots are responsible for a lot of success in various departments of an organization. From solving queries to lead generation, Chatbots have proved their efficiency to the fullest.
But chatbots are just a part of conversational AI. This extensive system can change the outlook of any industry when implemented in the right way.
Talking to machines is getting more comforting and convenient. Research indicates that conversational AI is going to impact businesses in a significant way.
Stats of transformation in business departments due to AI in the next five years
• 61% personalization of content
• 60% prediction of buyer’s journeys
• 59% marketing productivity
• 59% digital management
The above stats indicate that AI will impact content, digital marketing, sales, and many other departments. Conversational AI will assist in boosting the sales graph to rise in each department.
Advantages of implementing conversational AI in Business
Attractive Customer Experience (CX)
All businesses want their customers to have an amazing experience while dealing with them. And conversational AI takes it to the next level. It is designed in a way that provides the best conversation experience with the customer. Gone are the days when machine conversations seemed robotic. The new AI infrastructure promises a personal and intimidating conversation, along with multilingual options.
The data collected by the organization should be funneled in the right way to provide a great experience to every user. If the data is used correctly and implemented in the AI, the CX of your organization is sure to set examples.
Intelliticks is one of the examples of emerging conversational AI platforms to provide the best CX. It has Facebook messenger integration to connect with the users. This platform saves time and money while delivering engaging answers to the customers round the clock.
Provides an Omnichannel Approach
Customers need different channels while interacting with a particular brand. Some prefer emails, while some prefer calls. As there cannot be one channel of communication and management of all channels requires an intelligent effort, integrate conversational AI to make things fall in place for you.
Conversational AI unifies the data and gives a clearer understanding of customer’s data. The algorithm is designed to provide your organization with the best way of connecting with the customers through their preferred channels.
Assistance in promoting your content
Promotion of content is still a tedious task for many organizations. Posting blogs, articles, social media posts are easier but assuring that it reaches the right audience is still a way through a dense forest. While SEO and search engines work well, conversational AI bots can prove a breakthrough for content promotion.
For example, when the chatbot answers a specific query, it can provide the user with a link to the related article or blog. Thus, the user gets all the required information and more through the chatbot. On the other hand, your content is promoted to the right audience. Once the chatbot recognizes the regular pattern of the customer, it can promote the related content through the right channel.
Reduce Administrative Burden
With the implementation of conversational AI, the reduction of workload and use of resources is unimaginable. The administration can carry out their designated jobs with full assistance from CAI at every stage. These advanced chatbots can handle and immaculately organize the work of the various departments in the organization.
From intimating about the meeting to the concerned individuals to organizing fun activities, every little thing can be managed by conversational tools. An organization does not have to ask for an employee’s schedule individually. The employee can tell the software their schedule, and the conversational AI merges the information of all the employees and coordinates accordingly.
When introduced in the HRIS system, the HR department will have the best assistance to implement and ease their tasks. People have to speak to the software, and their schedules will be synchronized in the system.
Things to consider before introducing Conversational AI in the system
Merging of channels
When a user chats with a chatbot and the chat needs to be taken forward by the concerned human agent, he should have the history of the conversation. The entire data about the customer with its history and complaints should be accessible to the agent. This implies that all the channels such as voice, chat, mail, and web should be integrated seamlessly in the CAI channel.
Explore areas wherein CAI can be deployed
CAI is not just customer-centric. It can help all the departments of the organization in its own way. Like the former example of the HRIS, CAI can be implemented in other departments, too. It can assist in designing, determining product life cycle, data analysis, employee training, and much more. So do not keep CAI defined to enhance customers, employees, or sales department. Explore the opportunities for conversational AI and introduce it wherever possible.
Make the CAI highly engaging
Everyone knows when they are talking to a chatbot, but that does not mean the conversations have to be ordinary. Hiring creative writers and having them design intriguing statements for discussions makes the CX enriching.
For example, Hyundai CAI asks the customers several questions before telling them about the inquired product. Like “Before we talk about your favorite car, let’s chat about you so that I can be more helpful. Would you say you are more into...?” Then it provides three options like city life, outdoors, unique experiences, etc. Thus based on these answers, a marketing funnel is generated, and the correct type of car or cars is recommended to the customer.
Thus, engaging conversations can prove highly successful in generating and converting leads via CAI.
Conclusion: CAI- The best solution for business
The possibilities created by CAI for businesses are endless. You should identify the right way to introduce and implement it in your business. This means you have to identify which conversational tools suit your business in the best way. It would be best to educate yourself about the features, integrations, and their work in your organization.
The integration of CAI enhances the buyer’s journey and helps businesses meet their customers' demands easily. This, in turn, increases customer retention. You need to push boundaries and challenge yourself to stay ahead in the digital race. If CAI seems expensive or complicated, just begin with a basic chatbot to answer general questions and welcome your customers when they visit your site. Once you take this step forward, you will notice how important it is to stay up to date and include CAI in your organizational processes.
Conversational AI is not magic, but it is the best combination of AI and ML!
Frequently Asked Questions
What is conversational AI used for?
Conversational AI is used to enhance customer experience and provide them with a personalized approach. It means that the machine has a human-like conversation with the human. Organizations or individuals can use conversational AI to communicate seamlessly with devices.
What is the difference between chatbots and conversational AI?
Chatbots are used to build only text assistants, while conversational AI is used for text and voice assistants. Conversational AI is more intelligent, smarter, and understands the human language precisely.
What are conversational AI tools?
Conversational AI tools imply chatbots, messaging apps, and voice assistants. These can be implemented in businesses to provide a seamless customer experience. Software that integrates all or some of the above and eases business processes is an example of CAI.
"name": "What is conversational AI used for?",
"text": "Conversational AI is used to enhance customer experience and provide them with a personalized approach. It means that the machine has a human-like conversation with the human. Organizations or individuals can use conversational AI to communicate seamlessly with devices."
"name": "What is the difference between chatbots and conversational AI?",
"text": "Chatbots are used to build only text assistants, while conversational AI is used for text and voice assistants. Conversational AI is more intelligent, smarter, and understands the human language precisely."
"name": "What are conversational AI tools?",
"text": "Conversational AI tools imply chatbots, messaging apps, and voice assistants. These can be implemented in businesses to provide a seamless customer experience. Software that integrates all or some of the above and eases business processes is an example of CAI."
Article | April 28, 2020
The tech industry is almost always playing the balancing act by continuing to drive innovations and at the same time grappling with the side effect of those innovations in the global economy. Though every industry faces this challenge as it becomes more mature, the challenge is unique for the tech industry with the scale that tech is able to achieve and the evolutionary aspect of mixing digital and physical worlds.
Technology is evolving at such a rapid pace that it may go out of trend even before it is mentioned as a trending technology. But with the tremendous potential they bring with themselves, both for business and technology, it is time for the technology industry to make good use of it. While there are major questions around safety, privacy, sustainability, and trust, these questions can be answered by combining technical expertise with social awareness.
We’ll discuss how the impact of latest trends in 2020 will support and progress the infotech industry.
Table of Contents:
- Tech-Washing Fades in Favor of Real Strategy
- Growing Demand for Workforce Diversity
- Redefining IT Infrastructure with the Internet of Things
- Artificial Intelligence
- Demand for Automation
- Deep Fakes, 5G, and the Data Management Challenge
- Changing Reality of Emerging Technologies
1. Tech-Washing Fades in Favor of Real Strategy
With the vast influx of user friendly technologies it can now be said that every company is a tech company. Though the fact that technology is everywhere doesn’t necessarily change the underlying business model. A company cannot simply create new growth avenues by slapping a tech label on their product and expect to reap profits, which can be true for larger companies going public and struggling with the reality of the market.Then there are smaller businesses that are falling prey to marketing hyperbole. New trends like artificial intelligence and blockchain require significant investments and change to workflow. The smaller companies slowly realize the difference between buying new technologies and truly integrating them with their work culture.
Businesses will show more intent to integrate a technology into their work culture for strategic returns rather than buying a technology to use it as a crutch.
2. Growing Demand for Workforce Diversity
The technological workforce has been under the scanner for lack of diversity due to the unconscious bias along with other behaviour that is far more conscious, such as barrier to access for low-income students and even reports of outright abuse. In 2020, the call for improved diversity will continue to pay dividends, even if fully diverse and inclusive environments still lie further in the future. Going beyond the common conception of diversity, companies will also seek to bring in skill diversity. Companies are now increasingly seeking diversified expertise across all areas of IT framework – infrastructure, software development, cybersecurity and data.
In addition, companies now look for individuals that have some degree of work experience which indicates unwillingness to hire freshmen. Business are also looking for professionals that can speak the language of business and collaborate with other departments in order to drive technology-fuelled business results.
3. Redefining IT Infrastructure with the Internet of Things
The Internet of Things has emerged as one of the technological trends, along with cloud computing and mobile devices that will now be a permanent part of modern technology landscape. Digitization of environment and operations has gained pace due to the data value that comes with it. IoT is also bringing positive results for companies with both major and minor level IoT-related sales in the last year. Today, IoT as a managed services play is driving the most revenue in this category, but looking ahead to the next two years companies are predicting that analytics on data captured by IoT sensors – then shared with customers – holds the most financial promise.
I&O must get involved in the early planning discussions of the IoT puzzle to understand the proposed service and support model at scale. This will avoid the cascade effect of unforeseen service gaps, which could cause serious headaches in future.
- Ross Winser, Senior Research Director, Gartner
The next wave of IoT will require expert understanding of digital BizOps. Business will have to treat IoT projects more like an expansion of infrastructure.This will dictate networking structures, storage options, data policies, and security decisions. The stage for IoT, as for cloud computing and mobile devices, is set and ready to bring in advance IoT digital transformation.
4. Artificial Intelligence
Cloud computing lowered the barrierdeveloping software and distribution, while mobile devices extended the reach of software, thus increasing the software’s ability to drive activity. This created a new challenge in conducting said activity and acting on the data being collected. Artificial intelligence with software-driven routines and compute resources that can run advanced algorithms, takes software to another height. It is clear by now that AI needs a different kind of oversight compared to other software given the challenge of programming bias and unreasonable outputs. Like any other software, AI requires solid inputs and these inputs are often massive datasets rather than highly specific data points. But, there is still a need to maintain the data quality. AI opens up new opportunities for businesses as well as job roles as it continues to disrupt the infotech landscape.
5. Demand for Automation
SMBs require automation mainly in the areas of integration of platforms, application and data, while the large corporation who also focus on integration, have more internal resourcesto lean on. But, whether the integration is in-house or outsourced, the next step is automation. Today’s automations open doors to new opportunities like cloud systems offers tools from the provider; IoT gathers inputs from varied sources, and AI suggests insight-driven actions. With a number of technologies disrupting the tech landscape, companies can build complex automation. But as automation goes more complex, AI will play more a monitoring role.
Cybersecurity is not an emerging trends but it has been around for a while. Though the technologies revolving cybersecurity are upgrading as new threats keep appearing. Hackers keep finding news way to exploit the toughest of measures.
The attitude towards cybersecurity has shifted drastically from defensive to a more aggressive approach. Another drastic change has come in enterprises now treating cybersecurity more as an important component of business and not another function of IT. At large enterprises, this usually takes the form of a CISO managing a team of resources, and the division is more clear.
The first step, which many enterprise overlook, is to define the risk tolerance. The next steps is to fill the skill gap that exists due to a varied areas that come under the security umbrella. Finally, there must be metrics to measure the return on a more significant investment.
READ MORE: HOW TO MITIGATE ROBOTIC PROCESS AUTOMATION IMPLEMENTATION WITH LOW-CODE DEVELOPMENT
7. Deep Fakes, 5G, and the Data Management Challenge
Deep Fakes have the potential to wreak havoc on the society, personal lives, politics, careers, and beyond.Forging video and voice software appear to convincing people of doing things that they normal won’t do. Such software in the hands of bad elements would mean inviting trickeries and handing over important personal information to strangers. As long as deep fake applications exist – and they will continue to exist and proliferate – the need for sophisticated data management will skyrocket in the coming years. And data volume, already completely exponential, is only going to mushroom with the more expansive rollout of 5G networks next year and beyond. The entry of 5G will increase the absorption of data exponentially.
In addition to bringing us all faster broadband speeds and more reliable mobile networks, the proliferation of 5G will also accelerate advancements in smart city, smart vehicle, smart manufacturing, and scores of IoT-intensive technologies hungry for 5G. Just about every industry that touches our daily lives will be transformed – for the better – by the technology evolution that will define 2020.
- Daniel Newman, CEO,Broadsuite Media Group
The two trends will bring new data management challenges. There will be increasing need to identify data with its true source as well assecure the mountains of information speeding along these networks.
8. Changing Reality of Emerging Technologies
The excitement around emerging technologies is highand even though the impact on an operational levelhas been positive for business for building better practices for evaluating early-stage topics and accelerating adoption, its been chaotic at a tactical level. Companies have had less time to observe and evaluate which technology is profitable, while the constraints of resources and skill gap exacerbates.
The trend has been that companies in the business of technology are starting to pull back on adopting new technology as part of their portfolio. This slight tap on the brakes suggests that classic situation where companies move too quickly into a new technology discipline or business model only to have a reality check in year two or three. Though companies are excited about new technologies including AI, IoT, 5G, drones, blockchain, and quantum computing, they reserve their excitement since new trends can still take off overnight.
READ MORE: HOW TO LEVERAGE IOT IN MANUFACTURING TO USHER IN INDUSTRY 4.0
Article | March 26, 2020
Search and AI-driven analytics provider ThoughtSpot recently announced a collaboration with Google Cloud to launch Embrace for Google Cloud Platform that will enable enterprises to perform search and AI-driven analytics directly in Google BigQuery. The launch of Embrace will help enterprises leverage the dual power of Google BigQuery and ThoughtSpot’s augmented analytics. The combined delivery will enable organizations to derive proper insights and help them in taking appropriate actions. “Enterprises have more data at their disposal than ever before. The problem arises, however, when they look to turn that data into insights that can transform how their business operates. The old analytics stack is too slow and cumbersome to deliver the value they need from their data,” said Seann Gardiner, SVP of Business Development & GM of Embrace, ThoughtSpot. “Embrace for Google Cloud exemplifies the new, cloud-native, AI-powered analytics stack required to rewrite this equation and drive true transformation for our customers.”
Article | March 8, 2020
According to a Gartner survey, 48% of global CIOs will deploy AI by the end of 2020. However, despite all the optimism around AI and ML, I continue to be a little skeptical. In the near future, I don’t foresee any real inventions that will lead to seismic shifts in productivity and the standard of living. Businesses waiting for major disruption in the AI/ML landscape will miss the smaller developments. Here are some trends that may be going unnoticed at the moment but will have big long-term impacts