How can Conversational Experience help you Improve your Business?

Author - Swati | 15 April 2020 |
Conversational AI for Business

Conversational Artificial Intelligence is the latest trend of technology that is used in various companies. Every company uses AI but we invest in AI in order to get something from it. So here are some key tips to use AI to improve your business.

There are 3 main aspects that you must understand in order to improve your business using AI are:

1. Technical experience:

A deep technical team can be judged on two major factors. First is their experience, by that, you must check their knowledge that they have gained by working in various companies. As you know the experience cannot be bought in the market. So the value of experience in your AI technical team is the first aspect to look for.

The second dimension of a good team is knowledge of tools. To operate a highly technical system like AI you must have the high skillset to operate it as well. You must check these aspects to create a good technical experience.

2. Customer experience:

We cannot control everything in our life, so what customers think cannot be controlled by you but to provide the best services is definitely in your hands.

Good services of Conversational AI must include good voice conversation, good text and message chats. Another least known key factor you must know is to have an engaging conversation with the customer. This is where your good technical experience will also play its role.

Also Read: Conversational AI for the Best Customer Engagement

3. Relation with other companies:

In order to grow, you must be able to collaborate instead of competing. In order to have a successful conversational AI experience, you must learn from skilled companies like Google, Amazon, IBN and learn how they improve and implement their skills in the conversation using AI.

How to Improve your experience with conversational AI

In order to improve your experience, you should know what type of conversational Artificial Intelligence capabilities you actually need. To get the best out of the AI system you can add various images, videos, NLU to guide its flow and provide a list of various giving customer power to choose the best product for them.

The desired result of your business is to sell your product. Now let us see how conversational AI will help you to sell the product. Let us assume your company has various products which are less differentiated features between the two products. Now Artificial Intelligence will upload a picture of the product and also it will add a short but informative description below it. AI will also tell customers how this product is different from others. AI will also inform customers reviews of customers who previously bought that product.

From a customer's point of view, you will have purchase options that give you a rich asset. You will have all the helpful information you need before buying any product and ultimately you will end up buying this product. Some AI systems also provide the option of uploading and downloading images that are useful in banks. Options provided by AI are suitable and convenient for users so due to customer satisfaction they are probable to buy the product and improve company sales. This is how AI is useful for business experience.

Practical reasons why companies use AI and what AI accomplish

AI is used in companies to achieve two goals. The first one is to get high revenue and the second is to reduce the cost. Both of these things are important for you to take your business to the next levels.

Reducing the cost can be done by using AI. AI can perform the task more efficiently and for a longer duration. The Demand for AI is also less as compared to humans. You can free up hour agents and replace them with conversational AIs and hence you will earn profit and ultimately the cost of the product reduces.

An increase in revenue is achieved when you are able to drive sales, provide better conversation and it will give you greater sales ultimately leading you to generate high revenue. AI is able to perform all the above tasks efficiently.

AI setups the objective of high frequency with less complexity. You will always find zero level questions, 1 level questions and 2nd level questions like the cost of the product, comparing product, warranty/guarantee of product, etc are asked frequently. AI can answer such questions and even help customers in other problems like changing passwords, purchasing products, tracking the ordered product, etc. Hence AI will make things less complex for you with a high frequency of efficiency.

How can companies develop a conversational AI framework

The Conversational AI framework is related to the intent of the content to be used. You can understand the framework by observing the pattern used by various companies to handle AI.

Now, what vital steps AI framework needs are modest, starting from checking out history. By checking history we can understand most asked questions by customers. Subsequently, we can find targeted keywords and program AI accordingly. Now we can bucket all those keywords and classify them. We can figure out entities and make AI a better system.

Defining specific metrics for user experience is now a valuable asset to companies. Three things that get upgraded through specific metrics are cost reduction, average handling time and customer satisfaction.

Cost reduction is achieved as AI can take over the situation and no middleman is required between customer and company. Even if customers have to pay, their handling time is saved which we can also consider as cost reduction. AI works more efficiently and answers to customers in an intelligent way. This is how a customer can get satisfied, framework and specific metrics really turn out to be useful for AI and user experience.

What type of problems does AI solve

You cannot trust humans all the time, but you can trust machines when it comes to accuracy, acceleration, and alleviation. AI exactly helps you with accelerating your work, getting more accurate and getting small tasks down. Let us see more about these three 'A's which AI provides.

There are basically four types of problems, problems which are known to you and you can find its answer, this type of problem is known. The best example of it is calculations, probabilities, etc. We know the steps and can find answers, but AI can do it much quicker, much more accurately and we do n't need to invest our time in small works and instead do something else.

The second type of problem is called an unknown known. This means we know the answer but we do not know the steps to get there. A suitable example of it is the use of GPS. We sometimes know the place but do not know how to get there and so we use GPS.

The third type of problem is unknown. In which you cannot find the exact answer but you know the steps to find it. Calculations, probabilities are a good example of it, we already have various formulae for finding the answer but errors are expected. AI if given the same problem it will do it much faster and accurately. So you can invest your time in something different and give small tasks to AI.

To sum up the problem-solving ability of AI systems we can say that it solves any problem accurately, with greater speed and with the satisfaction of the user. AI will develop in the upcoming years and may also be able to solve the third type of problem which is unknown. In which humans would not know the answer and not the steps to get there but AI will be able to find both.

Pros and cons of AI

Here is a tabular representation of the pros and cons of AI to clear your concepts about AI


Practical use of AI in businesses and companies

Artificial intelligence is capable of performing intellectual tasks just like humans. Let us see how practically AI works and note the overall experience of Artificial intelligence.

You can install AI as a computer view in the parking of your company, this can be a relatable scenario for almost everyone. So when a car enters it notes down its number at the entrance itself. Now the car owner parks the car at a slot and while leaving from a number of the car, AI classifies whether the owner of the car is a member of the company or just a visitor. If he is a member then the gate opens and if he is a visitor then he must pay using various methods that will be available in front of him. This task is performed too smoothly without any chaos.

You must also consider a difficult scenario as well before completely trusting AI. So now let us suppose if the number plate is covered with some dust or mud and unable to read. Now there are 3 4 possibilities. One is to hire a person for such cases, but it is a rare case so you cannot afford to pay that person. The second option is to write off as it is a rare condition. The third option is to fit a water spray and to make AI read both the number plates of the car.

So you can notice that AI can be used in problem-solving but it is still at its developing stage so you cannot expect AI to solve the problem completely.

Final words

AI systems generally work with three main aspects, dealing with user experience, business experience and have to know about various companies as well. The artificial intelligence system cannot make progress alone. Improving and growing is a constant factor in Artificial Intelligence systems.

As we are getting ahead our goals are increasing to achieve the ultimate possibilities. AI has some flaws while using it in business. In order to solve any problem, we must go back to our basics. Basics of AI are computer languages if we manage to improve the language system than AI can perform much better. If we look at AI used by Google, Apple and Amazon we can understand the potential of AI and look to make AI better.

AI has different abilities of problem-solving, self-improving and works smartly, rightly so it is called Artificial Intelligence. So in order to get a better tomorrow, humans and AI should work together and should be able to get in a position of achieving the ultimate goal.

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