Reasons why your business needs a Chatbot?

mediumThis post was originally published by Mahima Bajpai at Medium [AI]

Reasons Why Your Business Needs a Chatbot_

An AI-powered chatbot is a software application that utilizes artificial intelligence and natural language processing to analyze and showcase the results which are sought by humans. The chatbots also guide them in the process of getting the outcome they truly desire with the merest effort on the part of the end-user.

AI chatbots such as virtual assistants or conversational AI assistants lead the user throughout the process to achieve the result which they seek. An AI chatbot platform represents one of the most advanced and affirming methods of interaction between a machine or a human.

A Chatbot AI software can simulate a chat or conversation with a human in common language over messaging platforms, webpages, smartphone applications, or through verbal communication on the telephone.

However, as a technology point of view, AI robot chat simulators merely serve in the natural evolution of the Question and Answer system, with the support of Natural Language Processing (NLP). Forming answers to the questions that are asked by the user in Natural Language Processing is one of the common precedents of Natural Language Processing implemented in different projects by numerous industry’s end-user applications.

Chatbot Architecture

Chatbot architecture is the core of AI robot conversation simulator development. AI-powered chatbots utilize artificial intelligence & Natural Language Processing (NLP) technology to interpret the requested query. Once the chatbot successfully interprets the query, it extracts the relevant information from the company’s server and progressively gets more skilled at delivering responses to the question at hand. There are two types of chatbots:

  • AI driven: These types of chatbots learn from the client’s response and makes itself better over the course of usage.
  • Fixed: These types of chatbots give out canned responses and do not use cognitive technologies like AI, ML etc.

There are a certain number of steps we use to create chatbots:

  • Deciding the Scope and the Requirement: Understanding how the chatbot would help improve your current services is the very first step in the design of a chatbot.
  • Understand the Form of the Input: Gone are the days when chatbots only accepted queries in the form of texts. They can take queries in the form of voice, image, text, from other intelligent devices and systems.
  • Understanding User Interface: We identify the type of UI element that will suit your chatbot best. We work with 5 kinds of UI experiences: Command Line, Graphical User Interface, Menu Driven Interface, Form Based Interface and Natural Language Interface.
  • Testing the Chatbot

How does the AI Chatbot platform work for your business development? (Reasons/Benefits)

For long-term business prosperity, establishing a brand’s goodwill, and achieving customer loyalty, it is indispensable for the brands to resolve the issues and provide responses to the basic queries of the customers regarding the products and services they offer.

Nowadays, Brands utilize the advanced technology to provide exceptional services to their customers. AI-powered chatbot software is used by brands such as Spotify, Lyft, MasterCard, The Wall Street Journal, Sephora, and more.

There are several reasons for infusing AI chatbot for the development of your business. Some of them are:

  • Automated 24/7 customer support – An AI-powered conversational chatbot is the best return on investment(RoI) to attend to your customers. One of the ultimate facilities which brands can provide to its customers is round-the-clock online support. In the customer service industry, engaging customers for their queries and providing appropriate responses to them are requisite for the business’s growth. As per the statistics, 84% of the conversational AI messages are opened by the recipient. AI robot chatbot conversations are acknowledged as a beneficial tool in engaging customer’s attention towards a brand.
  • AI chat delivers personalized suggestions – The chatbots are designed to build a strong and personal connection with the customers. AI-powered chatbots analyze customer’s activities on the website and connect them with personalized suggestions or relevant content.
  • Chatbots assist customers in navigating your site – An AI chatbot is designed to assist the customers with optimum capacity. Chatbots assist in navigating the potential clients to a specific website or assisting the clients in finding specific pages, gathering relevant information, and collecting guidance regarding specific tasks, such as registration.
  • Chatbots supervise monetary transactions – Chatbots explicitly designed for the banking or finance sector can quickly accommodate the clients to make bill payments, check their account balances, collect transaction details, and more.
  • Chatbots are amusing conversational AI – AI Chatbots are built to serve as a tool for entertainment and significant discussions regarding various subjects such as the current affairs, weather, recent developments in a company, newly launched products, films, and more. Chatbots work efficiently to engage the customers for a more extended period with personalized content and relevant data regarding their request such as sending creative promos and receiving mails.
  • Chatbots facilitate purchases and consumer onboarding – Chatbots facilitate buy and sell transactions effectively, such as tickets, clothes, products, cosmetics, and more. An AI chatbot is also competent to sign up potential clients for free trials directly. Chatbots also render its services as an additional guide to assist the customers in selecting the products or assistance to explore other options as per their needs.
  • Chatbots perform stock availability and track orders – Chatbots keep a proper record of the stock availability, stock consumption, and details of orders for maintaining the track of the company’s status. For example, in case a customer wants a specific product, the chatbot can check in its data regarding the availability of such items or the time it will take to be restocked. The chatbot can also handle the unavailability of a specific item by recommending the alternative.
  • Chatbots assist as project support – The AI robot chat simulators can Chatbots can broadcast information regarding multiple tasks at the same time. Such as reminders for webinars, follow up with an important client, or alerts for virtual meetings.
  • Chatbots as HR representatives – The AI chatbots can also efficiently handle some of the HR duties and responsibilities. AI chatbots can act as HR assistants andassistthe Human agents, releasing them from some tasks. Such as acting as HR assistants, chatbots can assist the agents in recording small breaks, recover organizational strategies, and deliver responses to repetitive customer’s queries.

Industries infused with AI-powered Chatbots

Numerous experts recognize Chatbot platforms as the future of the customer service and management industry. Numerous industries have infused their operations with AI-powered chatbots to provide exceptional services to the clients and enjoy the benefits of advanced technology.

Industries such as airlines, food service, news media, health, financial service platforms, and more have experimented with AI robot chat simulators to various success levels.

In the Airline sector, a company known as Aeromexico has launched an AI chatbot on the Facebook messenger platform to reach a broad customer base at a cost-effective expense. In contrast, dominos is the first brand under food service to launch a Conversational AI chatbot to render quality service to its customers worldwide.

Conclusion

There are numerous reasons for integrating an AI chatbot for the benefit of your business. As per the recent statistics, 63% of customers think business must have an online presence and should maintain a conversational platform for satisfying the queries of the potential customers on Chat messenger. Moreover, 55% of the consumers prefer to address their queries to a specific business through a chatbot.

The AI robot is the new customer service in demand, and the integration of such advanced technology is happening. No one can hold the implementation of AI-powered chatbots in business. The brands must initiate the process and become tech-savvy rather than being left behind by this change in the business culture. It is optimal for the industries to get on board as soon as possible and discover an AI bot’s power.

Spread the word

This post was originally published by Mahima Bajpai at Medium [AI]

Related posts