There are so many new and exciting businesses being created all the time. They are also in competition with each other to ensure that they offer the best products or services possible. With this high level of competition comes new solutions to manage their businesses. Only the best businesses which work efficiently, have high engagement with their customers, and create innovative products/services can become highly successful businesses. There have been many advancements in the digital world that can help businesses be successful. One of those advancements is conversational AI, including chatbots. This article will inform you of the benefits of implementing AI into your business as well as other digital tools, such as Google Digital Garage, that you can use.
What is Conversational AI?
Before we can discuss the many benefits, we must first understand what conversational AI is.
It is the process of creating technology on computers to mimic human interaction. It is used for many different things, such as chatbots, phone calls, emails, and social media. This allows customers to ask a question, and the AI will give a response as a real person would. Chatbots are usually used for questions that can provide fast answers. For example, asking a business about returns policies, resetting passwords, and other simple questions.
On the other hand, a more advanced conversational AI is virtual assistants such as Google Home, Amazon Alexa, Apple Siri, and more. These assistants are constantly developing, increasing their skills network, and can also be used for businesses as well as personal use.
Virtual customer assistants perform advanced tasks for customers, and there will be more innovative AI tools to bring to businesses in the future. They can provide answers to complex problems and process all the information provided to them to find a solution.
Conversational AI also learns from previous interactions. If you tell the AI that something, they said was wrong, they are designed to learn from this and not do the same thing again. When in a business environment it is important that they give accurate information so this is a tool that will be developed even further.
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The Benefits
1. It Can Reduce the Need for Customer Relation Staff
One of the benefits of conversational AI on the management of businesses is that it can reduce the number of employees that the business has to employ on some of the more repetitive tasks such as simple questions. In turn, this reduces company costs. Of course, it is important to still have some employees as customer relations employees so that customers can talk to humans when they have complex questions, or they want to feel more connected to the company.
However, the reduced need for staff in this area can encourage the rest of the staff to develop their management skills in other areas. For example, becoming a part of the CMI and developing leadership skills.
2. Provide Around the Clock Support
Another benefit is that if you have a global organisation, you will be able to provide customer service for your business at all hours. This is especially useful for businesses that would need to support their customers at whatever time in the day. One example of a business would be an internet provider. There are only so many hours of customer support that a business can provide if they are based in one country.
3. Customers Get Timely Responses
Many customers prefer to use automated response software for their queries. This is because they can get answers quickly and would not have to wait for a member of staff to get in contact with them. If the business is particularly busy, then it would be more ideal for a customer to use the conversational AI software. Most of the responses on a chatbot and those alike would provide instant responses and be able to solve any small problems.
4. AI Can Help Staff with Prompts
For a lot of conversational AI that has been created for answering the questions of customers that are more complex than simple questions and answers, businesses often use a monitored system. This means that much of the conversation is led by the computer and the staff only steps in when more help is needed. This is also shown to be useful because the computer can store a lot more information than a human can. It can then interpret what the customer says and find an answer from millions of potential answers. For example, if someone asked a question about a company’s privacy policy, but the member of staff was unsure or would take a while to research the answer, the computer would be able to provide this information almost instantly. This increases the number of tasks that can be done in a day and increases the productivity of the business overall.
Other Digital Tools That Help Businesses
Aside from conversational AI which we can expect to see expand over the coming years, businesses also benefit from a range of other digital tools.
1. Process Automation
Artificial intelligence can also be used for other purposes in a business. Some processes that are carried out by computers include sifting through job applications for recruitment processes, emailing, and personalised marketing.
2. Google Digital Garage
Another digital tool commonly used for helping the management of businesses and helping them to thrive is Google Digital Garage. This has many different tools from marketing techniques to e-commerce tools and social media tools. Digital marketing is one of the most useful tools to attract more customers. Digital marketing can also be incorporated into the AI world as it can help a business focus their marketing efforts on a particular target audience and discover which customers would be more likely to choose the business’s products/services.
3. Project Management Software
Many businesses use project management software because it can help teams keep up with their workload and help projects run smoothly. It is also well known that project management is becoming increasingly overtaken by AI. It is thought that AI will be able to take over the role of a project manager in the future. AI can track the performance of employees and automate tasks to get the project finished by a particular date.
Final Thoughts
This article has informed you about how AI can benefit businesses in a variety of different ways. One of the most beneficial parts of using AI is that it can reduce business costs and time which is essential for business growth long term. Generally, AI is a tool that can help many businesses increase their productivity.
There is a lot more that we should expect to see from AI over the coming years. Things such as AI phone calls which can call up businesses and arrange things like hair appointments have already been developed and it is likely we would see something similar that businesses have with customers and clients.
The reality is that AI can work much faster than humans can. They also do not get tired, so this means that they work much better without having to take shifts. Finally, they can process a lot more information than we can, and we may see more of the repetitive tasks in businesses being taken up by computers.
Benefits of Using a Conversational AI to Efficiently Manage Your Business was originally published in Becoming Human: Artificial Intelligence Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.
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