Today, conversational AI is the secret ingredient for brands to communicate with their customers and significantly change their relationships. It is a secret, not because many are unaware of it, but because people know how it works and its impact on your brand once it is appropriately integrated. Considering that the Conversational AI market is expected to grow to $13.9 billion by 2025, it’s clear that many organizations have already recognized its value and potential.
Gupshup’s CEO Beerud Sheth, VP of marketing, Srinivas Vijayaraghavan, and Product Head of Conversational AI, Niyati Agarwal, discuss Conversational AI and why it has become such a crucial deal for brands nowadays.
What is Conversational AI?
Conversational AI is the technology set that enables applications to make human-like interactions and indulge in two-way conversations with customers. A simple and typical example of conversational AI is the chatbots you see when you visit a website. They prompt you to ask a question and interact with them. You can ask your queries and register your complaints as well.
New and upcoming brands are utilizing this technique to get in touch with their customers. It has helped them expand their marketing strategies, communicate their brand message and offer effective customer support. Old and well-established brands are adopting this technology to revamp their communications and brand outreach.
The idea that a brand is a faceless entity has been constantly challenged due to the adoption of conversational AI. Before this, businesses were notorious for making customers wait for them to reach out for any assistance. Today, brands are becoming aware of consumer’s needs, which are far more demanding. The new customer is mindful of the quality of products and doesn’t shy away from giving public feedback via reviews. In such a scenario, conversational AI can help you revamp your customer reach and communications for good.
How Does Conversational AI Help?
Conversational AI uses structured or unstructured ways of communicating with customers. Conversational AI translates language so that a machine, a chatbot, or a voice assistant can understand users and respond to them in a smooth, human-like manner. To do this, it uses Natural Language Processing (NLP), Automatic Speech Recognition, and Text-to-Speech (TTS) with voice synthesis to identify the queries and respond with suitable answers. Advanced AI has proven even to find out the most complex questions and respond accordingly, with years of usage.
Conversational AI technology provides a holistic solution to your business. It employs proactive and reactive techniques. One example being chatbots. So, a chatbot not only answers the one or two queries that the customer puts in but also suggests other prompts based on the customer’s chat history. Hence, it benefits your marketing, human resource, and ITSM (Information Technology Service Management) departments, who get customer data that they can document and follow up at a later stage.
Between the new and old brands, installing conversational AI has become relatively common. There is no question of not using it. Only small brands that run on tight budgets contemplate whether to invest in conversational artificial intelligence or not. It is a one-time investment that only needs timely supervision.
You do not have to employ several people, just a few experts who can manage and upkeep the setups. This makes marketing, customer assistance, lead conversion, and other priority tasks relatively more straightforward. It will help your brand get the desired results and rake in profits in less time. Brands ideally should invest in conversational AI without thinking twice. Amazon has created quite a momentum due to ‘Alexa’; the day is not far away when every brand will have its own Alexa.
Conversational AI chatbots and voice assistants can be modified to suit various needs and requirements to yield better results. For example, regional and international languages can also be integrated via NLP for conversing with non-English speaking consumers. Voice assistants have proven to be a game-changer for assisting customers who have blindness or difficulty comprehending the digital interface. The combination of NLP and ML allows conversational AI applications to recognize speech and text inputs from human users, decipher language syntax, nuances, and context, understand user intent, translate their meanings, and imitate human interactions to answer queries and address concerns and resolve issues.
The Gupshup solution
Gupshup enables better customer engagement through conversational messaging. Gupshup is the leading conversational messaging platform, powering over 6 billion messages per month. Across verticals, thousands of large and small businesses in emerging markets use Gupshup to build conversational experiences across marketing, sales, and support. Gupshup’s carrier-grade platform provides a single messaging API for 30+ channels, a rich conversational experience-building tool kit for any use case, and a network of emerging market partnerships across messaging channels, device manufacturers, ISVs, and operators.
If you are a brand looking to revamp its brand interaction journey, you can give Gupshup a try. Explore the plethora of conversational solutions we have at our disposal. With Gupshup, businesses have made conversations an integral part of their customer engagement success. Join the bandwagon.