Conversational AI or Conversational Artificial Intelligence are a set of technologies that enable a computer to carry out real conversations with customers. Most businesses these days are incorporating AIs in their business that solves customers queries, take voice inputs, facial recognition and many more.
They offer a straightforward way of solving customer-related problems from taking their questions to providing immediate and relative answers. The term chatbot is almost similar to a Conversational AI. However, while chatbots are mostly limited to text-only conversations, the AI is made with technology that includes voice also along with text bots.
A business thrives best when it is flexible. With the fast-paced changing taking place every day, it is important for a company to keep up with the pace to survive in the market and have its foot steady.
To maintain the flow, businesses now are embracing flat structures that do not involve a long chain command line and are facilitating a faster decision making process. Conversation AI, in this area, plays the role of bridging the gap between an organization and its customers by being helping them address the uncertainties of a digital market.
Developing a bot that has only one function to perform or a set of functions. For situations that the bots are not programmed, they will not be able to solve the queries hence might fail to serve. For the same reason, bots are now being developed in a manner where they are versatile and additional programs can be installed even at a later stage without having to repeat the process all over again. There are various powerful BOT Building Platform using which bots can be built according to the organization’s requirements.
When an organization chooses to take a third party bot development, it fails to incorporate the latest and emerging technologies in the bots despite having an in-house development team. One reason might be due to a lack of resources which results in a widened gap between customers and the business and meeting expectations become difficult.
Conversational AI provides organizations with the best and updated technology and are also cost-effective so that the organization does not have to bear much cost, that is, bear the minimum price.
For an AI-system to perform its best, it is very important to inculcate a learning process in it. An essential factor to consider is the ease of training a bot to function as required. Does the machine learn by itself or is any intervention required to facilitate its function, is another question.
There are various machine learning techniques such as Unsupervised Learning and Reinforcement, Semi-supervised Learning, and Supervised Learning amongst others. The involvement of a human varies with each learning type. Another factor to consider is to calculate the number of person-hours required for training the bots.
The main reason that prevents businesses from deploying a chatbot for their communications is the cost of the initial investment. However, the BOT Building Platform offers flexible prices depending on the services an organization requires and provides a lot of opportunities.
For small and medium scale businesses, this is a great leap as it will benefit them in developing their business as well as take the organizations towards growth.
The payment modes range from Licence Fee to (PPP) Pay-Per-Performance, and the organization can choose the model that fits their goals the best. While these are some of the advantages of having chatbots for a business, they may vary depending on the type of chatbot chosen.