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LIFELIKE CONVERSATIONS WITH AI

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The old school rule-based chatbots often gave a frustrating experience with their rigid conversation structure. These chatbots often don't register previous user interactions as they are powered by simple Machine Learning Technology called pattern making. The rule-based chatbots are trained to answer questions that are fed i.e. meaning you must ask questions with an exact word match that the chatbot is trained with. This is a thing of the past with new generation chatbots powered by Artificial Intelligence and NLP technologies. Natural Language Processing and Artificial Intelligence have progressed to a point where talking to a bot feels as natural as speaking to another person.


How enterprise chatbots are transforming business operations

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Enterprise Chatbots or Virtual Assistants are computer programs that mimic human conversations with real people by using Artificial Intelligence(AI) and Natural Language Processing(NLP). Enterprises are spending more on Chatbot Development as they increase productivity, save time, improve customer engagement and enhance the customer service experience thereby improving ROI. According to a report by Gartner, 50% of enterprises will be spending more on chatbots than on mobile apps by 2021. Chatbots are not new as they have been around for more than fifty years now. The first ever chatbot, named Eliza, was programmed at MIT in 1966.


Chatbots Powered by Conversational AI for Enterprises

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Chatbot space is diverse and there is a huge list of chatbots that are being used in various areas. Recently, Enterprise chatbots are picking up popularity and are the newest AI chatbot that is receiving wide attention. Till now, you might have heard about AI chatbots for customer service that responds to users' queries and routes requests to agents. Think the same but replace the customers with employees of an organization and you basically would get an enterprise chatbot. There are a lot of advantages for enterprise chatbots, but there are many challenges too.


Adopting an AI chatbot to improve customer and employee experience

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The AI chatbot: almost every organisation should consider designing and deploying one to differentiate themselves to both their customers and employees. The main reason organisations should adopt AI chatbots is because they're available 24/7. Customers and employees (perhaps on a work trip in another time zone) can get a response almost immediately and the technology enables consistent messaging with every interaction. If someone is going through a customer call centre, for example, there's not always a consistent message being delivered for the brand. Indeed, the main use case that Katie Gibbs, head of AI at BJSS -- the privately-owned business and technology consultancy -- has seen is where organisations use an AI chatbot to reduce the strain on their call centres.


Meet 11 of the Most Interesting Chatbots in Banking

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With consumer expectations increasing, the use of artificial intelligence, machine learning and chatbots in banking is also increasing. Banks and credit unions worldwide are testing new applications and deploying new solutions to improve the overall digital customer experience. Subscribe to The Financial Brand via email for FREE!More and more banking organizations are leveraging artificial intelligence to launch chatbot solutions, reducing costs and serving increasingly tech-savvy consumers. In many instances, chatbots are developed to facilitate two-way communication, replacing channels such as phone, email or text. The objective is to provide quick service and transactional support.