Regardless of its size, almost every company is adopting and building conversational AI bots to redefine its customer experience. Humans are replaced with cognitive machines in a move to unlock disruptive gains. However, figuring out whether conversational AI is actually the right fit for an organization is a question that has been overlooked in today's technological rage. It's a culture change, which if goes off the track, can leave a business in jeopardy. To quote a precedent, remember Tay--a conversational bot from Microsoft--that learned to hurl racist and misogynistic remarks, leaving its founders red-faced.
Digital disruption through Artificial Intelligence will have a significant impact on the future landscape of any business, first in importance being Conversational AI driven assistants. Banks, Financial Institutions and many other industries have started to use chat/voice assistants to interact with customers and solve their problems without any human staff intervention. Research says that "almost 85% of global executives believe that AI will allow their companies to obtain or sustain a competitive advantage and going to a play a much larger role in enhancing organizational work productivity". Conversational AI, the front runner in this space, is revolutionizing the B2C and B2B organizational scenarios. Offering a'conversational self-service experience for their consumers and employees i.e., providing answers in real time' is currently one of the primary initiatives which Enterprises are taking up as a part of their Digital Transformation journey across every industry.
As smart as today's conversational interfaces appear to be, when Alexa can't distinguish what the word "it" refers to in a sentence, how valuable is she really? Chatbots should be more than a party trick; and at this stage, many of their use cases leave much to be desired. But repairing their conversational shortcomings could create value where we never thought possible, and potentially be the engine that drives the IoT landscape forward. Machines don't understand context the way humans do, and solving this problem is the next step towards creating an interface that's truly conversational. Luckily, progress in machine learning and natural language processing is giving new meaning to "conversational" devices.
Introduction: Conversational AI is a multi-billion dollar market, projected to generate $600 billion in revenue for businesses worldwide, annually, over the coming decade. Enterprises across all industries are implementing conversational AI to automate and bolster their customer engagement, communication, and acquisition strategies, streamline their operations and logistics, and ignite digital transformation within their organization. But what exactly is conversational AI? How is it different than chatbots? How does it work, and why should you implement it? In the most comprehensive guide ever written on this topic, we cover every single facet of successful, pain-free conversational AI implementation and maintenance in 2021.
Shifting to a conversational IVR may seem like a daunting process. Implementing new technology while maintaining legacy and new infrastructure can exert pressure on contact center operations. Fortunately, companies like Avaamo have deep experience in advising clients where to start modernizing their IVR.