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Conversational AI: Let the numbers do the talking

Conversational AI has been applied to different sectors and it has made significant improvement on businesses. Both staff and customers are embracing the new communication channel which enables them to spend less time on repetitive tasks in return for higher efficiency. Our Primary Partner, Druid AI, has gathered some findings to track the growth of this technology.

74% of Consumers Prefer Assistance from Conversational AI When Seeking Instant Answers

Imagine if you want to look for some information on a website with the help of a chatbot, the menu will pop up numerous options and you need to get through layers and layers of options for your answer, no matter how simple your request is. An AI chatbot, instead, thanks to its back-end integration with the relevant databases, can access the needed information almost instantly and return the answer to the user with zero delays. Deploying automation through conversational technology can save IT time since employees no longer have to answer the same set of questions repeatedly. At the same time, you can keep the consumers engaged because their queries can be answered fast.

55% of Potential Customers Can Be Lost Due to Lengthy Onboarding Processes and More Than 70% Drop-off in the First 20 Minutes

The biggest challenge with running a successful onboarding process is the length of time it takes a consumer from start to finish. It may take weeks to complete the process, which results in a delay in revenue and consumer dissatisfaction. Multiple documents, a tremendous amount of data, and multiple departments throughout the onboarding process make it very time-consuming.

Conversational AI can be used to automate the request for documents from a customer. Intelligent virtual assistants can help assist customers throughout the entire onboarding process and re-engage if they drop off. The AI assistant can also answer any queries and hand over the more complex questions to human agents.

Over 6 in 10 Customers Prefer to Use Digital Self-Serve Channels to Answer Their Questions

Modern customers prefer to learn and discover things on their own before contacting an organization. They don't typically want to connect with the company repeatedly for an issue or explain their situation time and time again. Customers prefer to find the answer to the query themselves, quickly, rather than waiting for a representative to reach them in a call queue. Additionally, self-service improves customer knowledge and allows them to resolve their problems independently, at their own pace, and learn as much (or as little) as they want.

87% of CEOs are Looking to Modernize their HR Departments Using AI bots

Digitising HR is a critical lever for companies looking to remain relevant and at the forefront of the business world. The right technology tools can support or, more importantly, consolidate various HR tasks, from data management to payroll, from recruitment to onboarding or performance. At the same time, to make remote or hybrid models continue to work without significant interruptions or hiccups. Conversational AI is one of the ways how they can do this.

When integrated within the HR framework, conversational AI technology enables the deployment of intelligent digital assistants that can handle a high volume of queries in real-time, accurately, and cost-effectively. These AI bots can be implemented across a wide range of use cases, helping to bring substantial benefits to different aspects that team members value daily. (Read more - HR and recruiter's new best friend - Conversational AI)

By 2025, Over 95% of Customer Interactions will Be Managed by AI

While technology is taking over, it is not only due to increased pressure from internal operations, but customers want them too. Businesses that fail to adapt to new technologies face irrelevancy in the coming decade. The challenge is not deciding whether or not to adapt but rather how to do it quickly and successfully. Successful integrations of conversational AI include all communication channels and the ability to add more as you go. To do this, businesses must take a holistic view, bring all communication channels, data, and technologies into a unified, single port and provide a positive customer experience. Companies can better control the customer experience, whether in person or with conversational AI technology.

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