The Future of Conversational AI: It’s Time for Brands to Take Notice!
- August 2, 2022
- ChatBot, Conversational Commerce
It’s no secret that the artificial intelligence space is booming right now. The demand for AI-driven solutions is accelerating at a rapid pace, and businesses are eager to implement these solutions in their day-to-day operations. In fact, the market for chatbots alone is expected to grow by more than 200% over the next two years. To keep up with the demand, businesses must take action fast and begin integrating Conversational AI into their everyday operations sooner rather than later. Read on to learn about some of the key considerations when it comes to Conversational AI integration and how you can leverage conversational AI in your business today…
What is Conversational AI?
Conversational AI, or ‘chatbot’ technology, is designed to replicate natural language conversations between two parties. With the growth of AI, companies have begun to prioritize implementing these types of conversations within their business operations. A chatbot can be programmed with a set of rules and logic that enables it to understand language and interact with humans in a natural way. A chatbot can accomplish a variety of tasks, such as helping customers find products or assisting with online purchases, scheduling appointments, answering FAQs, and much more. To learn the differences between Conversational AI and Chatbots click here
Why Should Your Business Care About AI?
There are many reasons why businesses should care about Conversational AI and integrate it into their operations. Here are some of the top considerations:
- AI Drives Growth.
- AI is often described as the next industrial revolution. And it’s true. It’s predicted that by the end of 2022, AI will have created 2.3 million new jobs while eliminating only 1.8 million jobs.
But what about Conversational AI?
- Conversational AI can improve customer satisfaction.
- With Conversation AI, brands can automate repetitive tasks and generate more personalized experiences that are relevant to each individual customer.
- Conversational AI can drive down costs. It can help cut down on costs in many areas, from optimizing support management to reducing customer support ticket volumes.
- Conversational AI can drive innovation; e.g. what is being asked for that we don’t provide?
- Conversational AI offers brands a wide variety of capabilities and benefits that can help them create new products and services in entirely new industries.
How to Implement Conversational AI in Your Business
If you’ve decided that the time is ripe for your business to integrate Conversational AI, you’ll want to carefully consider how you’ll integrate it into your operations. Here are some suggestions for how to go about implementing Conversational AI into your business:
- Look at where your business spending the most time customer-facing interactions
- Before you implement Conversational AI, you’ll want to understand your customer’s journey and current pain points.
- What are the challenges you’re facing right now? Support, Pre-Sales, Lead Generation…
- Conduct a conversational touch points audit.
- Evaluate how automating conversations with Conversational AI help you overcome those challenges.
- Next, you’ll want to conduct an audit of the Conversational AI solutions available on the market right now. Figure out which solutions are best suited for your business and how you can integrate them into your operations.
- Identify how AI supports your business strategy
- Finally, you’ll want to discuss how Conversational AI supports your business strategy.
Once you’ve integrated ConversationalAI into your operations, what benefits will your business expect to see?
Three Important Takeaways
Now that you understand what conversational AI is and why your business should care about it, it’s time to take action, get started, and begin implementing conversational AI into your operations!
When it comes to integrating conversational AI, it’s important to remember that the process isn’t straightforward. Businesses must be strategic about the way they integrate conversational AI. That’s why it’s important to conduct a conversational AI audit before you begin integrating AI into your operations.
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