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By 2020, approximately 20.4 billion devices are estimated to be connected to the internet. These IoT devices are getting smarter, connecting to intelligent applications, such as Amazon’s Alexa or Apple’s Siri, and helping consumers make transactions and complete tasks. However, they are also sparking conversational AI, and it stands to change customer service. Explore conversational AI, its benefits and challenges, and how it will help change customer service:

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What Is Conversational AI?
Conversational AI consists of an advanced technology that uses natural language processing (NLP) so that computers can comprehend human language. Conversational AI includes a variety of technologies, such as chatbots, advanced notifications and personal assistants.

With all of the benefits that conversational AI brings to businesses, conversational AI will change customer service in a variety of ways. Businesses will be able to serve customers faster. Businesses can also shift and develop frontline staff to creative and strategic roles, such as managing and developing the chatbots. This strategic move can enhance customer service, and help enterprises leverage their employees’ knowledge and skills to profit from the company’s digital investments. Chatbots can access customer data via the cloud and use big data to quickly and accurately review the customer’s transactional or communication history. This allows the chatbot to create an enhanced experience for the customer since it would be knowledgeable of the situation. Customer service representatives who may not be as quick as a chatbot to analyse this data may actually hamper the customer’s experience by causing them to wait even longer than they already have so that the agent can review the account. The customer’s time is important. Therefore, it is wise to incorporate technology that will help save you time, such as a chatbot.

Conversational AI will provide enterprises with benefits, but consumers as well. Chatbots can help personalise experiences for customers. It is even helping them learn new foreign languages. Customers can bypass the need for passwords and log into their accounts with ease using voice recognition systems. Customers will also be able to conveniently speak to digital assistants to receive updates on their accounts and their financial assets or to receive advice. Enterprise leaders should consider incorporating technologies that leverage conversational AI within their AI strategies to stay competitive and provide an enhanced customer experience.

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