Insights and Inspiration

THOUGHT BOX

4 AI Conversations Every Company Needs to be Having

As consumers, we’ve widely welcomed artificial intelligence and machine learning into our daily lives. “Smart” speakers, facial recognition on our phones, targeted ads we love to hate — these are just some of the AI-powered technologies all around us. But inside companies, the status of adoption is more of a mixed bag.

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The Dos and Don’ts of Automated Assistants in the Contact Centre

When using automated assistants, it’s extremely important to create rules that decide when a query needs to be handed off to a live advisor. There are many situations where this can prove critical. For instance, when automated assistants are dealing with overly complex queries that only a live advisor would be able to manage. More...

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AI helps chatbots to get better at customer conversations

In his article in the Irish Times, Seán Duke talks to leading thinkers and innovators in the conversational AI space and where it is going with AI chatbots, the pitfalls the opportunities and how design is of the utmost importance. 

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Conversational AI is mainstream

As businesses embrace real-world applications of AI-based chatbots and voice-powered assistants, investments and acquisition action in the space are growing year on year

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Conversational AI Trends to Keep an Eye On

With more and more evolution, Conversational AI is advancing at a great pace and making it possible for machines to interact with humans via natural language.  Here are some of the Conversational AI trends that Ajay Kapoor covered in a recent article on Artificial Intelligence in Plain English.

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Digital Accessibility Enters The Spotlight As A Business Priority

When the Covid-19 pandemic struck, in many cases making digital the only channel through which customers could interact with brands, Forrester saw a significant uptick in inquiries related to accessibility, mostly from companies getting serious about accessibility for the first time. The pandemic served as a wake-up call not just about the importance of digital accessibility but about its benefits, like:

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Why 2021 is going to be an important year for the AI debate

Our very own Cormac O'Neill, spoke with Ian Curran from the Journal,ie to discuss AI and just how important it will be not only in 2021, from the hype around AI and confusing basic automation to applying deeper AI.

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Man holding a tablet and smiling

It’s Finally Time for Frictionless Financial CX

It turns out the coronavirus pandemic is also a time machine. Instead of a lengthy march to digital transformation, the pandemic condensed years of change into a few months. For financial institutions, what was a slow shift toward mobile banking, contactless transactions, and digital insurance sped up when COVID-19 reinforced the need for fast, secure, and remote access to funds and financial information. As financial leaders plan their next move, we've identified key customer experience trends and best practices that will help companies earn customer loyalty today and in the future.

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ethics in AI

Ethics in AI: Why and How

Ethics in AI is about using this powerful technology responsibly, safely and fairly. Find out why we need to regulate ethics in AI and how we can do it.

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How do AI Chatbots Work

How Do AI Chatbots Work: Exploring the Basics

If you have spent any time online, you are sure to have come across an AI chatbot, but have you ever wondered how these bots work? We explore the technology behind the AI bots and discuss their great potential but also their limitations and give you a deeper understanding of these potent digital assistants.

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AI chatbots in conversational AI for debt collection

AI Chatbots: The Three Layers of AI Automation

The technology behind conversational AI chatbots is multi-layered with each layer contributing an important aspect to the whole delivery. The three core layers are: Intent Recognition, Entity Gathering and Propensity Engines.

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how conversational AI works

How Conversational AI Works

Unlike the early chatbots, today’s AI chatbots can have full-blown conversations that leave people feeling like they just finished talking with a living person. Let’s have a closer look at how conversational AI text messaging works.

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neural linguistics in conversational AI

Neural Linguistics: Unwrapping Language for Conversational AI

Using neural linguistics to inform conversational AI systems is like teaching a bot to think and speak with the complexity of a human. A truly successful AI chatbot will be able to understand the emotion behind a person’s words within a specific context.

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debt collection agent

How a Debt Collection Agent Can Close 300+ Daily Conversations

One of the biggest challenges facing contact centres is agent efficiency. Going hand-in-hand with agent performance pressure is the inevitable agent burnout which leads to agent retention headaches for collection agencies. While ever tightening budgets drive contact centres to try do more with fewer recourses, this only exacerbates the problem. In view of this, the high agent turnover is not surprising, but what can you do to remedy this? 

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Debt Collection Agencies Can Help Financially Vulnerable Customers

How Debt Collection Agencies Can Help Financially Vulnerable Customers

Debt collection agencies are often seen as the wolf at the door, but they don’t have to be. Rather, they can take the role of shepherds to guide financially vulnerable customers. Though the question is “how” as debts still need to be paid, and during this time of increased financial stress – a cost-of-living crisis – more and more people are falling behind on their payments.

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conversational AI for customer service

Conversational AI for Successful Customer Engagement

From low response rates to ignored emails, collections contact centres can get frustrated by processes that are both expensive and labour-intensive. But now, using conversational messaging and AI chatbots for debt collection is boosting customer engagement at a scale never experienced before.

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How to be Successful in Digital Debt Collection in 2023

The good news is that going digital is not as difficult as you think and can be made easier when there is concrete evidence that it works and you can see what other collections companies are doing. This is precisely what we are going to address in this session. We will be looking at a customer success story using live data from a collections company to show how they approached marrying traditional and digital channels.

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Webio 2022 wrap up

That's a Wrap! Highlights of Webio's 2022

As the year draws to a close, we wanted to take a moment to reflect on the past twelve months. This year has certainly been eventful! Have a look at the highlights in this video.

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conversational AI messaging for debt collection

Guide: The Benefits of Conversational AI for Debt Collection

Here are 11 compelling reasons you should switch to conversational messaging across the full range of digital channels to connect with your customers. Time and time again, the metrics have shown that two-way conversational messaging improves engagement rates, response rates and recovery rates. But these are just a few of the benefits - download the guide by filling in the form below to learn more.

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How to Increase Agents' Daily Closed Conversations from 60 to 300+

The challenges for those managing the debt collections are how to do more with the same agent resources, shift the balance from agent labour intensive to smarter agent customer engagement, and avoid having agents on the dialler when it is ‘not spinning. This webinar takes a look at the actual statistics that clients achieve using automation as part of their debt collection engagement strategy. 300% may seem like a made up figure for effect, but that's the agent efficiency rate that is achievable and we will show how.

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TAD Summit Conversational AI Messaging

The Future of Conversational Interfaces and How We Get There

At the recent TAD Summit 2022, Ben Waymark, Webio's CTO, delved into conversational AI, it's fascinating journey so far and how it can be used masterfully in customer engagement via digital channels.

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debt collection technology for customer trust

Reputation, Reputation, Reputation: Overcoming Customer Wariness

In this discussion, the three panelists looked at why customers can be distrustful of the credit and collections industry and how we can change this negative perception. The collections industry's primary role is communication, not financial services. Nowadays, there are powerful debt collection tools available which automate conversations around debt collection - but we cannot afford to lose the human touch. The panel looked at how critical language choice is when interacting with customers and how it is important to recognise vulnerability and connect on a relational level first before jumping in and asking for money.

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conversational AI report

Survey Report: Customer Connections The New Conversation Rules for Credit Collections & Payments

Know your customer conversation outcomes at the start of the conversation and deliver more personalised customer journeys and better business outcomes with fully compliant engagement baked in.

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icons to represent conversational ai

Conversational AI in Debt Collection How it Works Webinar

The phrase ‘Conversational AI’ has some ambiguity about what it means. From chatbots, automation, machine learning, NLP and NLU, intents to sentiment analysis, many struggle to connect the dots and see how this technology can work for their business and what can it deliver in the short, medium and long terms. In 45 mins, we take away the mystery and clarify what Conversational AI is in simple, relatable terms, why it is growing in popularity and what it can offer the debt collection industry and your business.

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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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