Conversational AI Platform as Digital Fabric for Banks - Elets BFSI

Conversational AI is a type of artificial intelligence that facilitates the human like conversation between a human and a software system in real time. It is a piece of software that a person can talk to, like chatbot, social messaging app, interactive agent, or smart device. These applications enable users to ask questions, get opinions, find support, or complete tasks remotely. Conversational systems are powered by a conversational engine named NLP (Natural Language Processing, a branch of AI that deals with linguistic and conversational cognitive science). They make use of large volumes of data processed with machine learning, and natural language processing to aid imitate human interactions, recognizing speech and text inputs and translating their meanings in different languages. Businesses can setup automated chatbots or virtual assistants that can communicate with humans via voice or text and in different languages of user preferences.