How conversational AI can completely reform your business?

How conversational AI can completely reform your business?

Digitization has completely revolutionized the way companies function. Right from marketing to recruitment, every aspect of a business has been positively affected and transformed by digitization. And one such area that has been revamped because of digitization and IT marvels is customer support. 

Customer support is the backbone of any successful organization but we have come past that age where there used to be a dedicated space in the office with thousands of customer support executives used to sit behind computers to provide customer support. Now, we are living in the age of AI where many business functions have been completely handed over to machines, including customer service. 

Yes, you guessed it right, we are going to talk about the most popular form of Artificial intelligence that has taken the world by storm- conversation AI. But what is all the buzz regarding conversational AI and is it worth investing in conversational AI for your business? Let’s find out.

What is conversational AI?

Conversational AI is an AI-based technology that allows machines to have human-like conversations with customers. We can simply say that conversational AI is a process that involves an intelligent conversation between humans and machines. 

This technology has been specially engineered to recognize human text and speech, understand its meaning and respond in a way that mimics a real human.Conversational AI is driven by advanced dialogue management technologies like Natural Language Processing, Automatic Speech Recognition, Machine learning, and even Noise cancellation AI. 

To make the technology less monotone, 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. 

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What are the benefits of using conversational AI?

Improved accuracy 

One of the best things about conversational AI is its level of accuracy. Recent innovations in the food ordering business like conversational ordering kiosks are making food ordering a cakewalk and it has also increased the speed of food ordering by leaps and bound.

When customers are allowed to enter their order directly into the kiosk, it moves directly into the kitchen. This is what minimizes the chances of any kind of human error and the customer even feels that he has more control over the entire food ordering process. 

Such conversational AI tools are also being used to advertise specials without relying on any employee. 

Reduced customer service cost 

The customer support department is always viewed by a company as a cost center. Right from training the customer support executive to dealing with a long list of tickets that seem to never end, every part of the customer support department adds up to the expenses of a business. But such expenses can be wiped out from the list by using conversational AI. 

By using conversational AI like chatbots, many parts of the customer support operation can be completely automated, especially the most repetitive and mundane ones. For example, if your customer support team always has to deal with a common question like “How long should I use this product?”, it can be fed into the chatbots. The next time any customer asks this common question, it can be answered by the chatbot. 

Improve customer satisfaction rate 

If you already have a customer support team then you must be aware of the importance of CSAT in the customer support realm. Customer support is the most basic and important part of any business. If the customers are not satisfied with the product, service, or support interaction, even those extravagant ads during a Super Bowl won’t do any good to your company. 

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If your current customer support team isn’t able to maintain even an average CSAT, 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. 

Since conversational AI is specially designed to offer a more personalized and seamless experience, there is no doubt about its effectiveness when it comes to keeping customers satisfied. 

Contactless customer service 

Whether it is phone interaction, or online, most customers are now expecting contactless customer service. The only technology currently available that can fulfill this expectation of customers and offer contactless customer service is contactless AI. Plus, the same conversational AI can be used to improve other kinds of support metrics as well. 

When there is a physical distance maintained between business employees and customers, the customer satisfaction rate automatically improves and this works like a magic wand on even employee satisfaction rate. When used properly and with proper planning, conversational AI can keep both employees and customers happy and satisfied. 

Today, conversational AI might be looking like another new business option for you but soon, it will become a new normal for every business and you will be left behind with your traditional customer support system. So, if you wish to act as an early bird and gain a competitive advantage, you should unleash the power of conversational AI and make it a strong part of your business. 

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Shankar is a tech blogger who occasionally enjoys penning historical fiction. With over a thousand articles written on tech, business, finance, marketing, mobile, social media, cloud storage, software, and general topics, he has been creating material for the past eight years.