Technology Other News 16 Oct 2019 How is Conversationa ...

How is Conversational AI turbocharging customer experience?

DECCAN CHRONICLE
Published Oct 16, 2019, 3:57 pm IST
Updated Oct 16, 2019, 3:57 pm IST
The Conversational AI market is a globally rising behemoth, currently pegged at USD4.2 billion it is grow four-fold by 2024.
Digital technologies are improving their visibility and empowering businesses with round-the-clock availability of a customer touchpoint
 Digital technologies are improving their visibility and empowering businesses with round-the-clock availability of a customer touchpoint

“Is dat done?”

“Sorry, I am not able to process your query. Do you wish to talk to our live agent?”

 

“The prchase I made?”

“Sorry, I am not able to process your query. Do you wish to talk to our live agent?”

Rahul Gupta, now irritated, had already wasted about 30 minutes in choosing a product during an online sale. Regrettably, this was for the third time he was inquiring whether the order had been placed or not. He could no longer keep his cool and go back to square one all over again. So, in his fury, he not only discarded his cart but even the platform from where he was shopping and headed straight towards another festive sale online.

Today, the touch-of-a-button experience – that the digital world is typically synonymous with – has made consumers more impatient than ever. Digital platforms acquaint modern customers with flexible, on-the-go shopping, wherein they are neither bound by the physical constraints of a shop nor their location. So, technically, they can shop anytime, from anywhere, and via any platform. This has made customer experience an even more important factor for digital platforms today than ever been before. But it is not always as superlative as it should be as the experience of Rahul also informs us.

Perhaps, an area where Conversational AI can bring about a paradigm change. Let’s try and find out how.

Conversational AI: Revolutionizing the ‘Art’ of Communications with Artificial Intelligence

We have already stepped into the world of technological innovation. Digital technologies continue to become an active part of everybody’s day-to-day lifestyles, especially with rapidly increasing global smartphone adoption. With it, businesses from different verticals also continue towards the ripe digital market to expand their business footprint. To their delight, it is improving their visibility and empowering them with round-the-clock availability of a customer touchpoint.

This development is simultaneously driving as much automation towards customer-facing processes as much as it is doing the same vis-à-vis internal processes of a business. So, since a customer’s end-to-end queries need to be resolved round the clock, it is natural for businesses to automate their customer communications as well. This is why we are witnessing the advent of avant-garde solutions such as Chatbots and Conversational AI Assistants.

However, Conversational AI is enabling the horizontal market to overcome the limitations that it faced with typical chatbots. As in the case of Rahul, chatbots come across as a bit unpolished solution with respect to customer servicing. They can only process the customer queries for which they have been programmed for. To make it easier to understand, chatbots do not conceive a text message as a human does. For them, ‘purchase’, ‘prchase’, and ‘prchz’ are three different words whose relevant co-relations are required to establish the user intent. Also, while addressing customer grievance, customers sometimes tend to send ironic messages. Chatbots cannot understand the exact sentiment of a customer and hence, cannot differentiate between two contexts. They simply end up sending a repetitive message to the customer which adds to the problem.

This is where the true power of Conversational AI rests. Leveraging Artificial Intelligence, or rather its subset Machine Learning, the Conversational AI Assistants not only understand the context of an ongoing conversation (or a historic one), it also analyses the exact implication of a message. AI Assistants further integrate well with social media handles of a business and help them in deriving meaningful insights from the same. For instance, a ‘Like’, ‘Comment’, or ‘Share’ of a certain post implies a certain intent of a customer. Here, different intents can be identified through a current or prospective customer’s wide-ranging interactions, thereby bringing intense personalization during customer servicing.

Further, these solutions also enable the customer to continue their conversation with a brand as and where they want. So, even if they had started inquiring about a product, or even if they had zeroed in on a product there, the same conversation gets continued on a business’ official website and vice-versa. Since the entire process is seamless, it naturally creates higher customer satisfaction.

The Conversational AI market is a globally rising behemoth which is currently pegged to be USD4.2 billion and is expected to experience around four-fold growth by 2024, ultimately, achieving a market size of USD15.7 billion in 5 years. Today, we are standing at a crucial juncture, waiting to see the entire market transforming with a superior influx of AI technology for automation of different processes. And here, Conversational AI Assistants have a massive role to play – thereby acquainting the entire market with unmatched productivity and growth.

-- Mr.Kartik Walia, Head of operations India - Amplify.ai

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