Home Meet the AI-Chatbot Bandwagon Which Shows no Sign of Slowing Down

Meet the AI-Chatbot Bandwagon Which Shows no Sign of Slowing Down

Anybody walking on the street can identify how technology is changing at a whiplash-inducing pace. But do you know what the worst part is? Which of these technologies specifically are about to hit big. AI, machine learning, augmented reality, chatbots, have not just grabbed headlines  — but are successfully infiltrating every aspect of our world. These show no sign of slowing down — from business to education, to the government, to our homes.

The good news? All the aforementioned are not usually too complicated. The bad news? It’s not a piece of cake either.

Which definitely means one needs to be up-to-date with the latest trends and make sure that your skillset matches the rising demand of your target industry. For example, by using artificial intelligence technology, Starbucks launched a new feature allowing iPhone customers to order their coffee through voice-activated assistants. Apart from satisfying customers, these chatbots also assisted well in decision-making and streamline processes for the organization.

The sales-person.

A salesperson, in general, requires performing several tasks at a time starting from offering a full-proof presentation to reporting for presales. Basically, it’s a time-consuming but necessary responsibility. Making use of digital assistance can drive short sale cycles. Sales can simply extract the most important details from the transcript and fire off a few short emails and move on to the next high-level task.

Chatbots & AI – Chocolate and Peanut butter

Chatbots are nothing but dedicated programs that employ machine learning and virtual intelligence (AI). Advancements in both fields, AI-powered virtual assistants can now learn independently and provide assistance to consumers without any additional human intervention. Also used as fantastic internal-facing tools, a high-end chatbot can help your business to a great extent.

One can easily speed up their internal business processes and create an efficient communication network for all professionals. Just by using an internal-facing bot. It is a safe bet to say that investing in AI-chatbots means there is no need to hire a professional. Other than this, chatbots can be integrated into a huge variety of channels, including Facebook Messenger and Slack.

On that note, I would like to suggest try coming up with products and services to attract the millennials. These millennials are technology natives whereas — the other generations are technology immigrants.

Are you designing one?

Much like any other project, designing AI-chatbot requires a planned approach incorporating a variety of aspects such as:

#1 The purpose:

One needs to identify where to fit the chatbot. Before positioning the chatbot, think from the business point of view, work and data complexity point of view.

#2 Customer’s query oriented:

Keeping client’s queries and requirements in mind, developers require focusing by providing information related to questions.

#3 Design:

By now you must have a clear-cut idea whether to build dynamic machine learning based Natural Language or rule-based directed dialogue chatbot. This move definitely results in effective outcomes and business performance.

Look down this piece and I would like to mention a few interesting use cases of AI-powered chatbots.

A bot that is taking on human trafficking.

Can you imagine the technology proving its worth by posing as a friendly companion, solving their endless queries with a punch of empathy & humor from time to time? You may encounter a plethora of chatbot applications by now but the one which has caught the eye is the bot taking on human trafficking.

In order to combat human trafficking and underage sex trades, this bot was a successful attempt made by Microsoft. It also sends a warning message observing unlawful conversation styles.

As Business Intelligence (BI) tools.

Right from analyzing historical data to providing instant replies, these bots can act as the best customer care world. Human operators can layoff for a while and allow these special bots just to aid its users. However, customer care bots aren’t equipped with all the answers which also means that human services will definitely be required to take over the conversation seamlessly. After all, satisfying your end customers is the key to succeed.

Education industry is no exception.

Have you ever heard about Botsify? It allows teachers from all around the globe to teach their students online. This bot gave an unusual rise to a revolutionary changes in the field of distance learning and education. Recently, PinnacleWorks came up with SuperBot designed for Indian educational institutes which is capable of answering all possible queries related to admissions to schools — and much more, whenever, wherever.

AI-Powered Bots Can Reduce Business Risks

Every business comprises of internal- and external-facing tools and these AI-powered bots act as a great addition to them. Making the most of visual assistants who can help your end users seems like expanding your team without even hiring professionals. It may quite interest you to know that more streamlined operations and a more productive team are the two major things which no business can say no to. Apart from this, chatbots have the potential to mitigate a wide range of business risks such as:

Analyze trends in Big Data.

Generating large amounts of data is more like possessing a gold mine that needs to be processed and analyzed at regular intervals. AI-powered bots effectively help in highlighting important patterns and trends which can be used to enhance products and develop better solutions that add value to your services.

Sales and marketing campaign.

Evidence-based decision-making (aka Big Data analytics) has become the latest fad, the gathered information can be used by different departments to create tailored campaigns and strategies. These campaigns can surely result in significant improvements in both closing rates and marketing qualified lead generation, exponentially growing your company at the same time.

Improved productivity.

Software releases have become more frequent than ever, which means the previous way of doing things is no longer suitable to sustain in the market. Productivity is that one particular element which results in improving the overall functioning of the business. Other than offering a seamless experience, chatbots gives you back a lot of time. There is no need to spend a large amount of time in verifying information or replying to emails, etc. In simple words, these AI-powered bots filter communications like never before.

Potential assessment.

Assessing and analyzing your internal operations now become easy and several areas of improvement can be identified in no time. Gone are the days when employees were simply asked to gather data and relevant information. Today, employees are given opportunities to present feedback to key decision makers within your company.

Best for B2B applications.

Business to business model is followed by several known companies these days. With the help of chatbots as B2B applications, companies can help in cultivating a strong relationship with their clients. Right from providing appropriate information to assisting during the sales process, the bots work wonders for you. In fact, using the tech you can even specialize in setting appointments with the right employees.

Bots Only Assist, They Won’t Replace Your Team.

I am sure many of you must be having this misconception that technology is replacing human effort but actually, it is all about finding creative ways to be lazy. But that doesn’t mean they can replace human employees. In fact, it leverages workers to focus on complex, challenging tasks that boost the company’s overall performance.

According to an IDC report, digital data will hit a trillion gigabytes by 2025. Tons of information being generated each and every day, workers need all the help they can get.

Parting thoughts.

An array of activities can be carried out by AI-powered bots. This, in the end, will leave a positive impact on companies of all sizes. As every coin has two sides; the tech has indeed come as a boon but they even have a fair share of controversies as well. For example, the model needs to be trained with a large volume of data. You must require incorporating GPUs but make sure you do it with right technology and resources, it can produce quality results. So, what are you sitting tight for? Are you ready to harnesses the power of conversational AI for Chatbots?

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Vikash Kumar

Vikash Kumar working as a Marketer at Tatvasoft.com, it's a software development & android app development company. He generally likes to share his technical views on different technical aspects.

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