Over the last two weeks, we saw the #10yearchallenge go viral. It showcased evident changes in the appearances of people and nature. It even led to the creation of memes. This brings us to the question of the hour, what was technology like ten, maybe twenty years back? How did people communicate and how has it changed over time? From signals, knobs and dials, clicks and taps, swipes and gestures, to voice and emotion, communication is evolving. Thanks to Conversational AI, enterprises that once echoed the thoughts of a digital-first approach are now moving to a human-first approach. Using devices like the Amazon Echo and the Google Home, it is bridging the gap of natural communication between human and machine.

What is Conversational AI?

A sub-field of artificial intelligence, it is a set of technology that focuses on simulating natural and seamless conversations between humans and computers. Even though it’s still at the infancy period, it has garnered attention because of its engagement capabilities and the speed at which it interacts. After all, it's easier for us to talk than to type.

Driven by Natural Language Processing (NLP), it supports two-way interactions with individual customers on a large scale. It creates personalized experiences and automates interactions by using a combination of messaging apps, voice assistants, and chatbots.

"By 2020, 85% of customers will manage their relationship with a company without actually interacting with a human being"

Moving from commands to conversations

“Alexa, play me the soundtrack of Star Wars”

Gone are the days where you sit in front of your computer, go through a series of menus, or click your mouse many times, to search for the track you want to listen to. With the power of our voice, Conversational AI has made engagements interactional and natural. It requires no training because technology has grown to understand our emotionally complex conversations. In fact, it enables the computer to think like a human and not as a bot. By categorizing speech into four buckets 1) context 2) engagement 3) tone and 4) memory, Conversational AI can leverage machine learning, real-time analytics, and NLP to give customers a personalized yet human-like experience.

Can Conversational AI increase your competitive edge?

Customer engagement is crucial for an enterprise’s success. But with alternating expectations, speed and convenience are beginning to trump price and brand. Though automation was the first choice because it was better cost-wise, Conversational AI solves this problem at scale. It allows customers to ask for what they want, when they want, thus enabling enterprises to learn about them through every transaction.

Conversational AI
    • Adapts to user's pace and knowledge

The power of Conversational AI interfaces helps us get answers instantly. During these interactions, users reveal a majority of information – preferences, opinions, choices, and much more. This can be fed back into the conversation to grasp contexts in the future and fuel more engagements through hyper-personalized recommendations.

    • Ensure engagement is on point, always

Conversational AI interfaces eliminate the challenge of interacting with enterprises through digital channels. With its fast and convenient, 24/7, 365 approach, you can get consistent and relevant answers with hardly any effort, regardless of how the question is phrased. Its intelligence is capable of sustaining conversations. It can also reflect the tone of your brand, through its ability to understand the context along with a deep understanding of language.

    • Keep conversations on track

As humans, we have the tendency to wander into multiple topics of conversation. There’s always the potential for users to multi-task, change decisions, or even get interrupted. To overcome this, the interface must be able to support these while engaging in conversation, thereby delivering a complete experience for the user through a single bot. For example, Swiggy, the digital bartender by Accenture, indulges in small talk while preparing your drink.

"Conversational AI is the force behind a growing $2.68 billion industry that’s projected to reach over $11 billion by 2023"

Though customers are the primary beneficiaries of the changes in technology, enterprises are not far behind. Every change is accounted to be a win-win situation and Conversational AI is deemed to be that inflection point.

Simply put, the AI in Conversational AI is what gives it the intelligence to communicate like a human being. While this is an investment that many enterprises are deep-diving into, it’s important for companies to consider the following aspects before launching their Conversational AI strategy to the market.

  • Can it talk, text, or chat?
  • Can it learn from the history of data available?
  • Can it understand the complexities of human speech and emotion?
  • Can it identify the customer?
  • Can it make transactions on behalf of the customer?

So in the next ten years, will Conversational AI emerge as the front-runner of all technology?

  • How AI and chatbots can transform you customer experience?
  • Is Intelligent Automation Redesigning The Workplace Of The Future?
  • 5 ways artificial intelligence can skyrocket customer experience
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