What is Conversational AI?

Conversational AI is the future of business-to-consumer conversations

Customers want faster, more responsive customer service and more interactive customer experiences.  With conversational AI, businesses can engage more efficiently with customers without significantly increasing their operational costs. 

Conversational AI is a combination of technologies that enable computers to engage in natural voice dialogue or text with humans. Conversational AI can communicate like a human by recognizing speech and text, understanding intent and responding in a way that mimics a human conversation.

There are a couple of core elements that are needed for conversational AI or AI-powered chatbots to function successfully- natural language processing and sentiment analysis.

Natural language processing is one of the most important aspects of conversational AI. It's what enables your AI to understand human languages as they’re spoken or in text. Natural language processing is critical because it enables your customers to interact naturally with your AI system. Rather than being restricted to very specific inputs, like a touchtone menu on a phone, customers can simply text or speak to your AI, and it will understand them.

With Sentiment analysis, you have the ability of your chatbot to identify positive, negative, and neutral attitudes in customer interactions, which means that responses can be tailored and identify the fastest route to complete the conversation. 

This is especially useful in situations where customers are handed off to live agents because customers begin their conversation with the agent e in a less agitated state as the agent should have fully visibility of the conversation history.  This is what Webio do very well using our conversational AI and conversational messaging solutions.

Why is Conversational AI important for business?

When talking about Conversational AI in everyday use, you would be familiar with and chatbots and voice or virtual assistants.  The interfaces are becoming so common and so powerful that deciding not to implement some element of automated customer communication will put businesses is a real disadvantage.

In a nutshell, conversational AI saves you money, reduces agent resource required to manage conversations and makes your customer engagement more efficient and a better customer experience. Conversational AI and chatbots can enhance the communication channels that customers use most like messaging.  

You’re guaranteed to see a positive impact from implementing conversational AI and chatbots. We see this every day of the week with our clients and their success stories.

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METRICS WE’VE ACHIEVED

52%
Uplift in Payment Arrangements
42%
Increase in Agent Productivity
57%
Decrease in Operational Costs
48%
Increase in Customer Engagement

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