The technology like chat bots, voice assistants and apps that help in conversation that can replicate human emotions fall under conversational AI. When artificial intelligence indicates to have intelligent conversation is called conversational AI. This AI will help machines to learn, process and deliver to any spoken language format conversation with ease.
What is conversational AI
If we speak of how different is Conversational AI than the previous chat systems, we can say, previously chatbots used were preloaded with answers and prompts that it would deliver when a query would appear. But now, with the help of AI ChatBots, it will bring in human touch and will try to solve in query through human feel. AI tools can mimic the pattern of query and customize accordingly.
Types of tools for conversational AI in 2023
The popular tools of Conversational AI are NLP , which is also known as natural language processing and NLU, which is natural language understanding. These two types of tools, clubs in together to understand the speech and texts by humans and then formulate process and reply accordingly.
Conversational AI helps various sectors :
The rise of conversational AI has been transforming industries across the board, and e-commerce is no exception. By using conversational AI, businesses are able to have better conversion rate with customers, build stronger relationships, and ultimately boost sales.
In the banking sector, while traditional banks are searching for fintechs to give them inspiration on how to provide customers with a better customer experience which is more seamless. Conversational AI can help speed up transactions, provide account services, and more.
The insurance industry is also undergoing a digital transformation, and conversational AI is becoming a key player in the distribution of goods and resolution of disputes. This shift has paved the way for a new era of data and analytics-based products.
Conversational AI also holds great potential in the healthcare sector. With the ability to simplify the lives of patients, physicians, nurses, and other medical personnel, conversational AI can greatly improve the efficiency and effectiveness of healthcare delivery.
Overall, the integration of conversational AI has the advantage to revolutionize the way various industries have been working. With technology getting intelligent with every passing day, it will be interesting how Conversational AI can adapt to changes of the industries.
Advantages of conversational AI in 2023
Chatbots and conversational AI assistants are increasingly being used to provide efficient and consistent customer support services around the clock, freeing up human resources for more complex tasks. Although these two types of technology may seem similar at first glance, conversational AI outperforms traditional rule-based chatbots in terms of customer experience.
While traditional chatbots could only reply to targeted trigger prompts that were feeded into their system, conversational AI assistants are designed to understand and process the meaning behind human speech and text, as a result it makes them more natural and effect to connect with. This means that customers can engage with the technology using more natural language and phrasing, resulting in a more seamless and satisfactory experience.
Another advantage of conversational AI is its ability to offer highly-personalized experiences. By combining machine-powered data analysis with human-like understanding, these assistants can deliver tailored product and service recommendations, increasing cross-sell opportunities and adding more value per interaction.
Overall, while both traditional chatbots and conversational AI assistants offer wide level of advantages in their own way to convert sales and productivity, conversational AI takes the customer experience to the next level with its ability to understand and respond through natural language processing and understanding, and to offer highly-personalized recommendations. As such, businesses looking to provide the best possible customer experience should consider adopting conversational AI technology.
