Debunking the High Conversational AI Myths

Conversational AI is a strong expertise that has the potential to rework buyer experiences throughout industries. Nonetheless, there are nonetheless many misconceptions about it that may stop companies from taking full benefit of its advantages. 

By understanding the true capabilities of conversational AI and the way it may be used, companies can enhance customer support, improve effectivity, and scale back prices. On this weblog put up, we intention to focus on some misconceptions about conversational AI and make clear how Kore.ai is elevating  the Conversational AI house.

Delusion #1: Conversational AI is simply one other time period for chatbots

Some of the widespread misconceptions about conversational AI is that it’s the similar as a conventional chatbot. Nonetheless, whereas they each facilitate some type of human-machine communication, they aren’t interchangeable. In reality, the time period “chatbot” encompasses varied varieties of chatbots which have developed over time. 

Essentially the most well-known kind of chatbot is a rule-based chatbot, which follows a algorithm to answer a consumer’s inputs. These conventional chatbots primarily use a easy resolution tree to answer to customers, that means they’ve a set of programmed questions and solutions. Rule-based chatbots are completely designed for textual content conversations and may solely be utilized on a single channel. They’ve restricted talents and are scripted, that means that companies can solely use them for particular use instances with restricted functionalities. 

Two examples of rule-based chatbots are Dom by Dominos and Brie by HelloFresh. These chatbots current predetermined choices for customers to pick from, and based mostly on the choice chosen, the bot generates a response.

      
Examples of Rule-Primarily based Chatbots, Dom by Dominos and Brie by HelloFresh

However, conversational AI-powered chatbots are clever bots that perceive human language and context to offer personalised responses. Not like rule-based chatbots, these clever bots are extra adaptable because of using AI. They are often leveraged for both text-based or voice interactions, or perhaps a mixture of each, providing a wide range of use instances.

Clever bots even have omnichannel capabilities and might be deployed nearly anyplace – on web sites, social media platforms, and even inside portals. With options like pure language processing, improved intelligence, and the flexibleness to deploy anyplace, companies can use these clever AI-powered chatbots to assist prospects with automated options.

Sounds nice, proper? NovaKBM definitely thinks so. With 94% automation charges and improved buyer satisfaction, the outcomes are astounding.

Niko by Nova KBM was capable of obtain these outcomes by serving to prospects create new financial institution accounts, get bank cards, and deal with extra repetitive, advanced actions. One of the best half is that Niko can talk with prospects of their most well-liked language, on this case, Slovenian.

Instance of a Conversational AI-Powered Bot, Niko by NovaKBM

Based on the Kore.ai 2023 Buyer Expertise Benchmark Report, when an interplay will get extra advanced, shoppers desire clever bots over fundamental ones by double digits. In the end, it is important to grasp that whereas all conversational AI-powered chatbots are certainly chatbots, not all chatbots are powered by conversational AI.

Delusion #2: Conversational AI can exchange human customer support representatives

All through historical past, there has all the time been a way of unease at any time when there’s a vital shift in our work strategies. Individuals usually fear that expertise will eradicate their jobs. This concern has endured because the Industrial Revolution and continues to this present day with the rise of AI innovation. 

Nonetheless, there is no want to fret! Conversational AI is not right here to switch people, however slightly to assist and empower them. 

Working in customer support is broadly identified to be some of the aggravating jobs, even rating among the many prime 10 most aggravating jobs worldwide. In consequence, many corporations battle with excessive turnover charges, generally as a lot as 45%. This creates a expertise scarcity and is dear for corporations, as recruiting and coaching new workers is expensive and negatively impacts buyer satisfaction. Nonetheless, conversational AI affords a possible resolution to this concern. 

Conversational AI-powered chatbots can present invaluable assist to customer support representatives by dealing with routine duties and releasing up time for workers to deal with extra advanced points. The synergy between clever bots and human brokers can create a seamless buyer expertise. The clever bot handles widespread inquiries, and the brokers solely must step in when sophisticated duties require human help. 

The Kore.ai AgentAssist platform is an effective instance of a conversational AI-powered resolution for contact facilities. AgentAssist will help contact heart brokers by automating repetitive duties corresponding to transferring balances, reserving appointments, scheduling discipline companies, making journey plan modifications, and extra. All this may be pulled off whereas the system acts as a sidekick to the agent, sifting by way of varied methods for knowledge and suggesting the following finest motion based mostly on the client’s intent throughout a name. AgentAssist additionally makes post-call wrap-up easy by summarizing requires brokers.

Instruments and expertise are so vital to brokers that 88% of them highlighted their significance in lowering buyer frustration. The Kore.ai 2023 Contact Middle Agent Expertise Benchmark Report additionally discovered that 85% of the brokers expressed their need for a software that may constantly supplies them with up-to-date and complete buyer historical past data. 

In the long run, whereas it’s true that conversational AI-powered chatbots have the potential to switch some contact heart consultant duties, they can’t fully exchange them. You will need to keep in mind that solely people can exchange people. 

Delusion #3: Conversational AI is just for huge companies

It was certainly giant companies that first carried out conversational AI since they had been those who had the price range and assets to deploy and keep an clever chatbot. Nonetheless, that isn’t the case anymore.

Organizations of any dimension can now make the most of conversational AI-powered chatbots, as they’ve develop into extra reasonably priced and accessible than ever. Varied chatbot platforms and frameworks are available available in the market, enabling organizations to decide on one which fits their necessities and price range. Using conversational AI-powered chatbots can profit startups and small to medium-sized companies essentially the most, as they will automate their customer support to deal with repetitive and 24/7 queries. 

That is what the Public Service Credit score Union was capable of do. They automated their contact heart processes and noticed a lower within the variety of calls they obtained by 24% with the help of Kore.ai’s clever AI-based options, BankAssist and SmartAssist.

Learn extra on how Public Service Credit score Union decreased agent-serviced calls by 24% in simply 30 days

With the introduction of free trials and startup-specific applications, corporations like Kore.ai have made conversational AI extra accessible to startups and small to medium-sized companies. Now everybody can entry the identical expertise utilized by PNC’s, Coca-Cola’s, and AT&T’s of the world at an reasonably priced worth. 

Delusion #4: Conversational AI is impersonal and persons are not snug speaking to bots

Based on analysis, Gartner predicts that by 2027 chatbots will develop into the first customer support channel for a few quarter of organizations. Within the context of customer support, rule-based chatbots, whereas helpful in some instances, can really feel impersonal and chilly to prospects. Conversational AI-powered chatbots, then again, have gotten more and more standard for customer support because of their means to personalize experiences. The development of the capabilities of an clever bot makes this false impression fiction. 

Why is conversational AI a greater resolution to supply personalised experiences? Superior Pure Language Processing algorithms enable the clever conversational AI-powered bots to grasp context and interpret nuances that really feel like human conversations. Including in a generative AI functionality supplies fast and personalised responses based mostly on buyer and product knowledge. 

Persons are more and more snug interacting with chatbots to obtain quick and correct responses. Surprisingly, when evaluating customer support choices between people and clever bots, the outcomes confirmed solely a 7% variance in anticipated efficiency rankings for clever bots (70%) in comparison with all dwell agent modes (77%). The Kore.ai CX Benchmark Report additionally exhibits that extra people are selecting to make use of clever bots for easy and complicated interactions.

Delusion #5: AI-powered chatbots are solely accessible on a handful of platforms

Many companies implement chatbots to automate duties, enhance buyer expertise, and provide self-service choices to immediately resolve points. Nonetheless, for chatbots to be helpful to companies, they must be accessible on extra channels than simply the corporate web site. With the common particular person spending a mean of two hours a day on their favourite platform, social media has develop into a go-to supply for model recognition and decision-making. By integrating a conversational AI-powered chatbot with social media and different messaging apps, companies might be current the place their prospects are most lively and accessible. 

Are you interested by why companies should have a presence the place their digital prospects are? Effectively, by utilizing a conversational AI-powered chatbot on their most well-liked platform, companies can improve their social media and e-commerce experiences. These clever bots present speedy and constant responses, resolve points, and set up an interesting tone around-the-clock, resulting in elevated engagement and model loyalty. Moreover, clever bots can help in producing leads and gross sales by providing useful and well timed ideas, upselling and cross-selling merchandise, and guiding customers by way of the buying course of.

Kore.ai affords many integration choices, permitting companies to decide on the precise social media or e-commerce platforms for his or her audience. 

Delusion #6: Conversational AI bots will not be safe

To assist reply queries precisely and in a customized method, clever bots regularly want entry to enterprise methods to collect and modify knowledge to carry out these duties. In consequence, companies must  set up correct precautions to safeguard confidential data and may deal with AI integration with care. Nonetheless, with the tight privateness rules and security precautions that conversational AI platform corporations have in place, these considerations are sometimes simply misconceptions.

Listed below are a few of the ways in which Kore.ai makes conversational AI-powered chatbots safe and secure for enterprises to make use of:

• Person authorization and authentication – A chatbot should have authorization when it really works with a consumer’s delicate knowledge. Person authorization ensures the precise particular person has entry to the right knowledge and companies. Authentication, then again, helps defend customers’ knowledge and units from being misused.
• Information redaction – A consumer’s non-public data, corresponding to their contact quantity, social safety, and bank card particulars, is routinely deleted after a chosen interval. This characteristic applies to each the consumer and the chatbot.
• Finish-to-end encryption – This safety characteristic ensures that solely the speaking events can learn messages throughout the chat window. The dialog is encrypted in a manner that solely the meant recipient can decrypt it, and nobody else can entry it.
• Safety Audits and Compliance – Common safety auditing ensures that the platform maintains required safety features and complies with rules corresponding to GDPR, HIPAA (for medical use instances), and others. 

It is vital to notice that chatbots don’t pose a higher safety threat than different applied sciences. Nonetheless, to make sure the profitable implementation of the expertise in your small business and to keep up consumer belief, it is essential to prioritize the protection of the platforms used to construct the AI-powered chatbot.

The most recent CX Benchmark Report is right here! Need to dive into the report?
Learn the Report  

Debunking Conversational AI Myths with Kore.ai 

In a world the place buyer engagement is the important thing to success, the time to spend money on conversational AI is now. With these widespread misconceptions cleared up, companies can really feel extra assured when implementing AI-powered expertise and profit from higher agent productiveness whereas growing buyer satisfaction. 

With Kore.ai, you are stepping right into a world the place expertise and humanity coexist harmoniously. The Kore.ai XO platform makes use of cutting-edge applied sciences corresponding to Massive Language Fashions (LLMs) and Generative AI to construct human-like conversations that create lasting buyer experiences.

Need to be taught extra about Conversational AI and Generative Language Fashions? See how the XO Platform accelerates clever bot improvement with generative AI.

Able to embrace the daybreak of a brand new period? E book a session and begin your conversational AI journey at the moment.