Tech Employee of the year – How AI-Chatbots are revolutionizing customer service

The AI revolution is living up to its hype. Especially with AI Chatbots. They have carved a niche for themselves in every industry. From automation to reducing business expenditure, their laurels are innumerable. But chatbots are most relevant when it comes to your customer. In fact, the most important value addition they bring to your business is customer satisfaction.

Forrester projects, that AI chatbots can cost nearly 10 million jobs by 2027. But the current reality persists, where chatbots can only solve 10-35% of customer problems without a human touch. So, at the moment, it can simplify customer interaction & even enrich it at a basic level. But you know what they say. First impressions are everything.

In fact, makers of chatbots are now delving deeper into the Artificialintelligence conversation. Machine Learning & Natural Language Processing are taking precedence at this juncture. The smarter the chatbot, the smoother the interaction.

If you’re new to the chatbot game and wondering if it’s worth the investment when it comes to customer satisfaction, we understand. But here’s the thing. It’s a business trend that is spreading far & wide.

According to an Oracle study, 8 out of 10 businesses have already implemented or planning to adopt AI as a customer service solution by 2020. Not because they want to be in a small race. But because they want to stay in the bigger race.

In fact, U.S businesses are losing a total of $62 Billion per year through poor customer service, according to NewVoiceMedia. In tandem, Accenture has predicted that AI technologies will increase business productivity by up to 40% by 2035. So, looks like the choice is clear.

But then again, if you need more validation, here are a few reasons as to why you must adapt.

1. Exponential Reach

Currently, mobile messaging apps have 20% more engagement than social media platforms. When you deploy your chatbot contingency, it becomes immediately available on all messaging platforms. In our opinion, this is the best of what chatbots have to offer. Whatsapp will have 1.75 Billion users in 2020, so go play!

2. Standardisation & Better Use of Data

It can bring some order to your customer interaction. At a preliminary level, chatbots can at least identify common problems and direct your customers to the right solutions. With time, you will have accumulated enough data through your various interactions. That can help device a standard interaction pattern that you can set in stone.

3. Reduced Costs & Better Performance

Another thing, AI chatbots work around the clock. Your customer can be serviced at any time of the day, suitable to them. It drastically reduces your customer service expenditure & enhances the role of your existing employees. They can always intervene when the request is too complex & unfamiliar to your AI chatbot.

If you haven’t joined the chatbot race yet, better late than never. Start your journey into the world of Artificial Intelligence with Avaamo. To know more, visit: Avaamo