Top 5 Conversational AI Trends And Their Impact On Enterprises

Author - Devender | 30 November 2020 |
Top 5 Conversational AI Trends And Their Impact On Enterprises

We live in an era of the fast-moving digital world, where every day, you are surprised by the latest technological trends in the market.

These technological trends have entirely transformed the way a business operates.

Every business needs to stay modernized with the latest technological trends to remain at its competitors’ forefront.

If not, you will be nowhere in the competition, or sometimes it may lead to your business’s closing.

Example:

We are all aware of Nokia, which is one of the top mobile companies in the world.

It is currently nowhere in the market because it has not appropriately responded to the technological market trends.

Conversational AI is taking the B2B industry by storm.

2020 and the next few years will be a big year for Conversational AI.

It empowers enterprises to opt for various Conversational AI-powered applications (Chatbots, virtual assistants, and messaging apps) to develop highly appealing and expensive customer associations.

This innovative technology impacts every industry in the market by helping them accelerate their innovations and growth.

It is a well-known fact that Conversational AI has become in need of technology for the tech world, grabbing world business leaders’ attention.

But blindly following a trend may give you a negative result.

It’s because they don’t know where exactly it will fit.

It’s due to the lack of apposite information about the trends and impact.

To overcome this information gap issue, I will share the knowledge about the Top five conversational artificial intelligence (AI) trends in 2020 and their impact on businesses.

Just hang on with us!

Top 5 Conversational AI trends and their impact on enterprises

Shifting to voice-enabled assistants

Voice-enabled assistants are the first big thing happening in Conversational AI.

Users started to use voice assistants in their home, car, mobile, and enterprises also started testing this in their workplace and with their users.

According to the study of Dutch research consortium project silver, voice-enabled assistants can be boon to the older people.

The reason voice-enabled gaining popularity is because users feel more convenient in speaking rather than typing their queries.

“The number of digital voice assistants will reach 8 billion by 2023.” [Source:Techcrunch ]

Impact on enterprise

Voice assistants enable enterprises to develop a wide range of applications in a single one for both customer and employee-facing.

Voice-enabled assistants to improve consumer experience and employee productivity levels.

You can also use them in the HR department to on-board people by providing the necessary information like FAQs, Privacy policies, Holiday policies, and so many to the newbies joining the company.

Chatbots to Conversational AI bots

With the introduction of Conversational AI bots, the rule-based Chatbots will start exiting from the businesses.

You may get a doubt about what exact difference between both of them. To clear, you can read our previous posting

“Chatbots Vs. Conversational AI bots.”

Conversational AI bots use Natural language processing, NLG, machine learning, and NLU to have a personalized conversation with humans/customers, which understands human utterances properly and responds accordingly.

With those Conversational AI bots, enterprises can enable the workforce to focus on understanding human sentiment to solve complex scenarios rather than wasting time on repetitive tasks.

Impact on enterprise

The Conversational AI bots can understand the user’s natural utterances that enhance the customer’s experience.

Enhancing customer experience indirectly leads to customer engagement, automates the lead generation, educating customers, and cost reduction.

Conversational AI with AR

We have seen AR in mobile and web apps, but this is the new trend that will enhance the customers’ use of Conversational bots.

Including augmented reality in Conversational AI will bring new life customer product/service experience to the next level. It is like we are adding a face to the bot.

With this type of bots, users can interact face-to-face with machines/agents at any stage of their buying life cycle by being guided by them parallelly.

It is creating opportunities for Conversational AI services and enterprises using for the business internally and externally. At Nuacem, we are currently working on this project.

Sentiment analysis to know customer insights

The Chatbots are good at gathering information from customers in various means, but the real struggle is they will fail to fetch valuable customer data-driven insights.

Due to which, conversational analytics has gained so much appreciation and usage in the enterprises in recent times.

These conversational analytics used to catch the customers’ emotions and sentiments, and by taking insights from that data, the bots will train over time.

Sentiment analysis helps identify the banter happening with Chabot and determine whether it is going well or not.

Based on that analysis, the Chatbot will carry out the conversation.

With the sentiment analysis, customer support does call routing that increases the user experience in customer service centers.

Multilingual

The next trend in Conversational AI year 2020 that has attracted most enterprises is the multilingual feature.

Humans have a tendency when the opposite person speaks their mother tongue; they will get attached to them so quickly.

You may think that English will be the right choice to include in the bot, as it is a universal language.

But, the fact is English used by only 20% of the people across the globe.

When you plan to reach the customers in every corner of the world, it will not work.

By keeping in this mind, our Nuacem team configures bots in more than 55 languages, including various regional languages like Hindi, Telugu, and many more.

It enables businesses to use more than one language.

Final words

I firmly believe that we are still in the early stages of the adoption of this fascinating technology.

Conversational AI technology and its impact have entered the minds of many enterprises.

Do you have sleepless nights by thinking about how to implement those Conversational AI trends?

Just reach out to us by email or telephonic.

Our Nuacem AI professionals will help you give you an optimal Conversational AI solution beneficial for your organization.

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