While some companies are seizing the opportunities that artificial intelligence offers them and using this technology to improve their business processes, others are missing out on this enormous value creation potential. But where exactly does this potential lie?

AI Creates Added Value.

• New, improved analysis: Machine vision allows machines to simulate how the human brain processes information in a fraction of a second. If, for example, components in industrial plants are broken, AI can detect this at an early stage before a costly failure occurs.
• Optimized pattern recognition Allows the evaluation of very, very large data sets.
• Precise forecasts for the future: Predictive analytics, i.e. forecasts based on data, are a challenge on the one hand but are of immense interest for companies that want to become market leaders.
• Natural Language Processing: Describes the interaction of intelligent machines with human language. This clever technology behind chatbots has made progress in recent years due to the development of deep learning.
• Speech recognition: AI understands spoken language and converts it into written text. With natural language understanding and intent analysis to determine what someone wants, speech recognition is the driving force behind Alexa, Siri and Co. But it can also be used for therapeutic purposes.

AI Predicts The Future.

Predictive Analytics

Artificial intelligence can make predictions: They use machine vision and learning to calculate the probabilities of an event occurring based on what they have learned from the past and the associated data. This strategy is used in marketing to make forecasts about customer decisions. For example, AI identifies patterns in user behaviour and increases the relevance of certain ads for certain users accordingly. On Netflix, Amazon Prime and Co., they create personalized series suggestions and thus give customer recommendations. This strategy can also help small companies to recommend customized services or products. On the other hand, if companies want to automate repetitive tasks, machine learning is used in various ways.

However, because AI uses computer vision to recognize, understand and classify images and videos in seconds, it is also used in financial monitoring and network security. AI identifies suspicious behaviour by examining data patterns, which is how they catch scammers.

Predictive Maintenance

Predictive maintenance, in turn, is an application area of ​​machine learning derived from predictive analytics. While predictive analytics describes a forward-looking analysis method based on data and statistics that develops, tests and applies prediction models, predictive maintenance already describes the next step. This form of application gives recommendations on how to react to an occurring event. They are used in particular in industry.

With the help of predictive maintenance, the condition of a technical device or component can be transparently displayed and analyzed using the data from numerous built-in sensors. In this way, even the most minor deviating data can be recognized as a sign of an error, which can be addressed preventively. Preventive maintenance of worn parts and failure-sensitive machines makes it possible to predict whether and when preventative maintenance is required – before a time-consuming and costly failure occurs—using artificial intelligence benefits you from enormous future-oriented and competitive potential.

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These bots are a fast and easy way to answer customer service questions and provide support. They can be used in various business scenarios, and they can have a significant impact on your customer service strategy. This article explores five ways how chat bots can boost your customer service.

1. They Reduce the Cost of Customer Service

Customer service is expensive, and with a chat bot, you can drastically decrease the time it takes for someone to fix a problem or offer advice. You can use chatbots to provide the same level of service but at lower costs.

This can mean that you can save money by cutting the number of representatives you employ, which is especially useful if your staff turnover rate is high or your employees are expensive.

2. They Help You Build Trust and Reputation with Your Customers

While there’s no substitute for good old-fashioned customer service face-to-face, most customers prefer online interactions and expect the same levels of service online as they would in person. They also expect you to be professional and provide accurate information about your products and services.

With chat bots, you can use them to respond to customers more quickly and personally. This will help build trust and reputation.

3. They Can Help You Get New Leads from Social Media

Social media is an excellent resource for companies since it constantly provides new leads, such as those who follow their online posts or comment on them within the social media app of their choice.

Chat bots can provide your company with the ability to receive live feedback from these people. This will help you retain existing customers and build more interest in your business and product, which will lead to more new contacts and sales opportunities.

4. They Provide Management Tools that Enable Better Communication between Departments

Customer service representatives often need to relay information between different departments within a business so that each department knows what the other employees are doing at any given time. This can be difficult to manage since you can’t always be in two places at once to make sure that everyone understands the situation as it unfolds.

As such, chat bots can be extremely useful when it comes to providing your business with a solution. They offer employees access to their customer service representatives anytime, anywhere.

5. Chat Bots are Easier to Train than Traditional Automation Systems

Traditional automation systems typically require months of training on all of the systems within each automated system before they are ready for use. On the contrary, working with chat bots can be quite easy as they don’t need any training. This means that your employees won’t have any difficulties using modern automation software and will quickly gain skills at using them.

It makes them more productive and efficient within their daily duties and reducing human error while they are operating these automation processes.

Conclusion

As the internet becomes an increasingly integral part of our daily lives, businesses of all kinds are looking to leverage the power of online communication and customer service. The bots automate the process of communication with customers and look to augment, rather than replace, human service representatives.

They are one of the most popular ways businesses are looking to provide customers with an exceptional level of service without increasing operational costs.

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Chatbots as digital service employees

Chatbots are emerging as a serious competitor for apps right now. They are independent of operating systems such as iOS or Android and can be operated via their conversational interface by voice or text. They can be used on the most popular messaging channels such as Facebook Messenger, WhatsApp, Telegram and web messaging. If these tools are used in social networks, they are called social bots.

Social bots act as profile users and like, comment and share posts. However, companies can also use them as a communication tool with customers. With the digital helpers, you simulate real communication partners. This means that it is pretended that there is a real person or a real employee behind the profile. Renowned studies predict that in 2020, 85% of all customer interactions will be controlled by artificial intelligence and bots and that no human interaction will be required for this. (Gartner, 2017).

Chatbots can be created on websites. The programs can be selected according to the intended use or created yourself. The real effectiveness of the digital communication partner can only be seen in practical use. Numerous bots can influence the opinion-forming of consumers. For example, Oxford University found that during the first television debate between Donald Trump and Hillary Clinton, more than every third pro-Trump tweet was posted by a digital helper. Large and well-known companies have already started to develop chatbots and see the integration of a bot as an absolute necessity for the digital evolution of companies.

Chatbots As Insurance Advisors

The insurance group ARAG uses chatbots. Mobile customer advice is provided via Facebook Messenger with the help of a chatbot. This enables users to obtain information on insurance benefits. The following example is about travel assistance advice.

By using the messenger and the emojis available there, conversations with the chatbot get a relaxed atmosphere. The chatbot allows the company to react to inquiries in the shortest possible time and present the appropriate services.

Advantages and Disadvantages of Chatbots

The digital communication partners offer companies numerous advantages:

• Automatic interaction: The interaction with consumers can be carried out automatically via messaging platforms.
• Resource conservation: Chatbots can be used as personal assistants and automated live agents, especially in ​​customer service, and can save companies up to 80 per cent of support costs.
• Easy integration: Chatbots can be easily integrated into the infrastructure.
• Shorter distances: From the customer’s point of view, there is faster access to information and simplified interaction with the company, which is possible around the clock.

But there are also disadvantages:

• Manipulation: The use of chatbots enables public opinion to be manipulated, e.g. US election campaigns.
• Communication with a program: The use of programs can be perceived as impersonal from the customer’s point of view.
• Programming: To be accepted by customers, a chatbot must be programmed for error-free communication. He must not just answer questions but must be modelled on natural language dialogues.
• Data control: The transfer of customer data to chatbots must be compatible with data protection.

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This is why many chatbots today are based on this flourishing technique, and companies are crazy about it! We understand them: it gives an innovative and modern brand image at the cutting edge of technology thanks to an efficient chat service.

But can we say that an AI-based bot is 100% reliable?

AI: FROM BUZZWORD TO REALITY

Recall the basics! Artificial intelligence is to implement several techniques to enable machines to mimic a form of real intelligence.

Its goal is, therefore, to perform the same tasks as humans!

In practice, the principle is brilliant. This saves precious time, and it is a real technological advance!

Except that…

“Artificial intelligence does not exist.”

Yes, we hit hard! But it does not come from us, and it is Luc Julia, the co-creator of Siri (which we no longer present today), said it!

Or rather, it is the AI ​​as it was presented to us that does not exist. It is only recognition. We teach machines things, and we give them examples.

Therefore, we cannot speak of “intelligent solutions” in the true sense of the term. And that’s unfortunately why they remain disappointed most of the time.

We talk to you in more detail through the different AI-based chatbots found on the market!

Also Read: How To Reskill Your Workforce For Artificial Intelligence

WHAT ARE AI-BASED CHATBOTS LIKE?

As we said above, many chatbots today are based on artificial intelligence (or claim it, at least).

But how exactly does it work?

Thanks to artificial intelligence, these chatbots can understand written language and give the impression of interacting with a real person. This is called NLP ( Natural Language Processing ). Unfortunately, this technique turns out to be ineffective today.

Indeed, if you have not entered all the spelling possibilities yourself: the visitor will receive an error. This brings us to the second major problem with NLP: you have to enter by hand all the possibilities of writing the words that your visitors use. Result: weeks or even months of preparation for solutions that approach 70% error according to a benchmark research in the field. Ouch!

Other AIs put forward on the market are based on analyzes of traffic and your visitors’ browsing habits, with cookies, which allows them to highlight products according to a chain of behavior. However, they are not far enough today to guarantee reliable results.

In conclusion, all these features are not exhaustive and take a long time to become 100% efficient (which between us is impossible!).

The question then arises: is investing so much time and money necessary to have an effective chatbot on your website?

A CHATBOT WITHOUT AI: YES, IT IS POSSIBLE!

Of course, chatbots are very regularly associated with the notion of AI, but not all of them use it!

Artificial intelligence is legitimate when there is a large flow of data to be processed in real-time. Now a chatbot was never the insane amount of data to calculate at the same time.

Therefore, other more successful and reliable operating modes exist conversation patterns to anticipate discussions between the bot and the Internet user and complex algorithms.

Also Read: How Technology Augments Customer Service in 2021

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How can bots and automation in particular help to master the crisis and to inspire and retain customers over the long term? The situation surrounding the COVID 19 pandemic is currently slowing down investments in new – supposedly not immediately necessary – technologies. But you should take advantage of the opportunities that new technologies offer. Here are 5 reasons why it’s worth it right now:

Chatbots In Service

80% of the questions in customer service are repeated over and over again. The service team has often already documented these questions – ideally digitally. Most FAQs are also available. So why not have the first-level support processed by technologies in order to create capacity in the service team? Smaller conversational AI solutions, such as chat or voice bots, can be implemented with limited effort.

Chat and voice bots are intuitive, simple, and user-friendly for customers. They are able to answer the simple, classic questions in first-level support or to solve more uncomplicated inquiries. The artificial intelligence behind the bot recognizes patterns in the language so that you can formulate your concerns in different ways and regardless of this you always get a valid answer. CRM Software for small businesses is the best one to use.

And that around the clock. When customers ask an urgent question, the bot is ready, while the service staff may be in the home office and the technology does not allow them to work as quickly and efficiently as usual. In addition, bots require little maintenance, are not forgetful, and are constantly learning new things. This gives the service team more time for comprehensive second-level support.

Also Read: The Artificial Intelligence In Three phases To Autonomous IT

Automation In Marketing

The use of marketing automation supports marketing in individually supplying customers or prospects with the relevant information, enables an automated one-to-one relationship, and creates trust. From automatic lead scoring to qualifying interested parties. This makes the development of the leads measurable because actions by interested parties are weighted and assigned values. In this way, so-called “Sales Qualified Leads” arise from visitors or “Marketing Qualified Leads”, which can then be seamlessly transferred from Marketing to Sales.

If speed is more important than ever, it is automated workflows that enable marketing and sales to both collaborate and facilitate the path to a successful deal.

Voice Bots As A Partner In Sales

In sales, a customer relationship management system helps to establish customer relationships with little effort and to maintain them over the long term. Especially in times of crisis, when you cannot sit face-to-face, it is important to have all the data on your customers ready to give them the feeling that they are taking care of them in the best possible way.

However, the time-consuming data maintenance in particular often prevents employees from filling the system with valuable information and using it. Voice bots can support this: They open up new possibilities in the interaction between humans and machines and can be integrated into the existing SAP Sales Cloud, for example. Practical examples (such as Valentina ) show how simple but ingenious such support looks. From the appointment system to the follow-up of the appointment, everything can only be controlled in one’s own language without having to open a mask of the SAP system.

Smart Commerce Support

70% of online customers think it makes sense that chatbots support them in the ordering process. The sectors that normally sell more offline than online can now benefit from this. Examples of this are the wine trade, food trade, fashion, pharmaceuticals, and many more. Hybrid models that work online can be found and developed here. Chatbots and/or automation can help bring customers directly to the destination they want and make recommendations.

The bots can also be useful for up-and-cross-selling. They take in information, needs, and feedback and store them. When the customer comes back to the shop, the bot can advertise products that are right for him or higher-quality services. It goes without saying that this will generate higher sales that are now urgently needed. And an investment in such a technology quickly pays for itself.

Also Read: These Technologies And Digital Trends Will Influence The Market

Intelligent Processes In The Back Office

Another way to more easily maintain operations in crisis situations is to use process automation or even robotic process automation (RPA) in the back office. From invoice matching to sorting mail and emails, to opportunity scoring. Regardless of whether front or back end, bureaucratic, always the same processes are particularly suitable for automation.

The most important questions: Which RPA software complements the company’s existing software structure? Are there perhaps already automation options in the systems without having to implement AI directly? Breaking through bureaucratic structures makes life easier for employees and enables important processes to be maintained more easily in times of crisis.

Chatbots And The Customer Experience

Chatbots and automation are not only worthwhile in times of crisis. All of the points listed contribute to a goal that can be the necessary differentiation from the competition: a perfect customer experience. A factor that should not be underestimated in a modern market in which differentiation through lower prices or better quality products is becoming increasingly difficult. In marketing, commerce, and service systems, it quickly becomes clear how chatbots and automation contribute to the customer experience.

These areas usually have direct contact with customers. But how do intelligent processes in the back office, for example, contribute to the customer experience? Everything can go perfectly beforehand: If the bill is not correct in the end or you have to wait a long time for it, the customers are not happy with their buying experience. And how does it help the customer when the sales representative receives support in the CRM system? The employee is a) happier and b) has more time for personal support.

The employee experience is a factor for the customer experience that should not be underestimated – regardless of the company department. Satisfied employees with more time can take care of customers and customer loyalty much better than dissatisfied and stressed employees.

In every process, in every bot and automation idea, there is the potential to make life easier for employees and customers. Now it is time to use the potential!

Also Read: Top Trends In Technology In 2021

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