In today’s digital environment, creating a seamless customer experience is the new mantra for any organization. It’s not only about engaging with your consumers; it’s also about being able to quickly resolve their issues. Businesses are evolving from just emails and customer-care calls to live chats and social media platforms to offer efficient customer service. The question here is are these approaches useful enough? Does it solve the problem on a big scale and can be managed round the clock?
“No” that’s right, the ideal solution lies in the adoption of Virtual Assistants powered by conversational AI. Have you ever sought a quick evaluation of a restaurant or a traffic report before heading to work? Did you contact Google customer service or request quick assistance from Alexa, Google Home, or Siri? Yes, that’s the speed we’re talking about. Virtual Assistants have been helping us with our daily work. Imagine the potential it has in transforming the customer journey.
According to Gartner’s Market Guide for Conversational Platforms, by 2021, AI chatbots will handle 15% of all customer service interactions, and businesses are more likely to increase their usage by 400%. And, the new wave of AI chatbots that brings a radical transformation to customer service, proves the prediction to be true.
Use of VA across industries
The year 2020 saw an acceleration in digital transformation with the adoption of technologies like AI, Cloud Computing and many others. According to a report by Mckinsey’s “The state of AI in 2020,” 50% of the companies across every industry have already deployed AI within at least one business function. More emphasizes are paid on application rather than an AI itself, to solve the real problems.
Implementing a conversational AI solution became integral for businesses across verticals. Let’s have a look at the impact Vas have on different sectors.
Retail & Ecommerce: With pandemic disrupting the physical shopping experience for consumers, there has been an increase in live videos, virtual stores, and chats. It’s no wonder that e-commerce businesses are increasingly relying on chatbots and virtual assistants to give round-the-clock service to their customers. Website chatbots have become a common method of connecting an increasing number of online digital prospects with a human contact centre. According to Salesforce customer service study, AI-powered chatbot use will grow by 136 percent.
Real Estate: As new technologies and diverse digital products affect the way people live and work, the whole real estate sector is undergoing tremendous disruption. A key issue is meeting rising client expectations for more real-time and high-quality services. Today’s customer service requirements are largely shaped by the norms of large technology companies. In many procedures, a personal touch is no longer the most important success element. It’s more about simple and easy communication channels, 24/7 availability, quick response times, and a low mistake rate. Companies may use service desk automation and conversational AI to develop and provide an experience that gives this value to customers.
IT Sector: If you’re a technology company that serves other companies, Conversational AI can help you deliver tailored and unique experiences that help you establish connections with B2B clients. According to technology firms, 80% of their volume is not yet ready to speak with a human salesperson. Virtual assistants may help unload marketing and sales teams, allowing them to focus their efforts on the 20% of customers who are ready to speak with a live person.
Also, read our other article Startups in the Netherlands to learn from
Regardless of your demographics or direction, it is claimed that the language changes every 100 miles you go. However, if you want to develop your business internationally, you’ll need to be able to communicate in several languages, regardless of where you’re located. Because not every human agent dealing with consumers is bilingual, business advisers are increasingly aiming to include AI-powered intelligent chatbots into their support systems.
Multilingual chatbots assist organizations in staying ahead of the customer service curve. Multilingual chatbots at contact centers assist and solve difficulties for consumers in the language in which they are most comfortable. A multilingual chatbot can move between languages smoothly, therefore improving and customizing the customer support experience.
There can be some challenges
Chatbots are basic rule-based systems that can only answer basic questions. Chatbots have a restricted reach when it comes to comprehending inquiries because they reply to pre-defined scripts. Furthermore, chatbots employ open-source natural language processing (NLP) that has not been taught to interpret complicated phrases or industry or brand-specific questions. This results in more bot failures and a higher burden on Live Agents, creating a vicious circle of bad customer service.
Haptik, providing holistic conversational AI solutions, uses its own unique NLP engine, which has been trained on over 4 billion interactions, to adapt to domain-specific intentions. Haptik NLP outperforms various open-NLP libraries such as Dialogflow, Rasa, and LUIS in terms of accuracy, as demonstrated at EMNLP 2020.
Haptik IVAs take into account the agents’ availability and capabilities to provide the best support experience. Furthermore, Haptik NLP auto-suggests answers for queries to assist agents in responding to incoming user messages.
To sum up, Chatbots have gained popularity across the world, and with the advancement of Artificial Intelligence and NLP technology, they are likely to become even more powerful in the near future.
Also, read our article: Audio eBooks: The best way to amplify knowledge without boredom