Chatbots: Let your business do the talking
Ever wondered how the world of business has evolved? Why is everyone suddenly talking about the rise of cognitive intelligence and its benefits? Over the past few years, the shift in technology has created a huge space of ease for various types of businesses. The work which earlier took days to complete can now be completed within hours with tools like Google search and virtual assistants. The cognitive intelligence or chatbots, as you may call it, provide users with answers to their queries with a state-of-art perfection. This perfection is what kicks the business into gear and sets the ball rolling.
The chatbots that we use now are far more advanced than the basic call-response codes. The ability to learn recursively has made chatbots a handy tool to deal with basic tasks such as answering frequently asked questions. Artificial intelligence is being adopted by various industries because of their efficiency in making day-to-day business easier.
Here are few benefits of chatbots which are making them the “it-element” in every industry:
- Customer satisfaction: Customers are the key to any business. Industries like banking, healthcare etc. are constantly thriving to improve their customer interaction and satisfaction. Companies are able to provide customers with better access to services using chatbots. Industries, like health care, have taken this feature one step further with apps like Health Tap. Health Tap provides doctor’s advice when asked about certain symptoms. Hospitality, travel, real estate etc. are also making use of cognitive intelligence to give customers a healthy experience.
- Conversion rate: End of the day, the goal of any business is lead conversion. The evolution of AI has allowed companies to use bots for communicating with customers. Industries, like retail, have apps which combine marketing, customer service, and sales to optimize the customer experience. The chatbots use customer’s shopping history and buying behavior to provide personalized information which can help convert a random website visitor into a buyer. The scenario is same in the hospitality industry as well. Hotels are introducing apps which act as a one-stop information portal for guests. Many hotels use Bebot, an AI-based chatbot, to improve the in-stay experience of guests.
- Detection of fraud: Companies are experimenting with AI to come up with new security solutions. Many banks are ditching their old complex security systems and are looking forward to AI-based apps which can learn without being explicitly programmed. For example, Lloyds Banking Group is using an AI-based app to detect and prevent online frauds.
Below is an infographic that shows how AI and bots are impacting the businesses across all the industries and how companies are adopting the new technology to optimize businesses.
In order to have the competitive edge in the market, businesses need to automate their operations with a strategy that revolves around chatbots. Chatbots can help in implementing solutions that could be beneficial for both companies as well as customers. Once deployed, the chatbots can be trained to improve efficiency as per business requirements.
At Kaara, we understand the need for business bots and have built our expertise around it. Our bots are based on business process flow and follow a set of frameworks which enable an optimum level of efficiency. To help businesses stay on par with technology, we have evolved our expertise in product development, mobile applications, artificial intelligence, data analytics, machine learning and innovation-powered engineering services