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Conversational AI: A boon for businesses

Gain insights into customer experience and serve them better!  Reduce business costs, and invest in technology!  Serve your customers 24*7 with precisely what they need! 

Whether you are a business or a customer in this tech-savvy world, you would appreciate the importance of personalization, quick response, and real-time assistance. And that's where businesses of every scale incline toward Conversational AI and its plethora of benefits. 

 Conversational AI or Artificial Intelligence-driven technology or devices with which people can talk to, interact, and get answers in real-time is conversational AI. It greatly benefits as it can provide front advantages in business service but also helps in back-end operations like a business, product servicing, and function. Let's dig more into conversational AI and its need for modern businesses! 

 What is Conversational AI?

 Conversational AI is augmentation of human speech and text with the help of natural language conversation powered by machine learning algorithms writ. It can be facilitated through a device or virtual assistant with which a human can converse, interact or have a conversation. These can be any wearable device with conversational AI algorithms, virtual assistants like Chatbots implemented on websites, apps, mobile assistants, etc. These can engage with customers in real-time, provide quick answers, and convert prospect leads into customers.

But, the list of benefits doesn't end here. Some of the other significant benefits of conversational AI are-

 To serve your customers better, it is of utmost importance for a business to understand customers' pain points. And to know this critical insight, virtual assistants or conversational AI can help capture data about when customers feel entertained and when and due to which factors they decide to buy the service or a product of business? 

 Furthermore, as data has the power no service, product, or strategy can provide, leveraging that data in the right way makes can help increase business revenue several fold. And also, turning this data into information can assist businesses in making services, products, and even customer experience advanced. 

 "The goal is to turn data into information and information into insight!" 

                                                                                                                               ~Carly Fiorina

                                                                                                                                 Ex CEO of Hewlett-Packard

 So, it becomes imperative for you to incorporate Conversational AI into business today and gain insights that can help and make your business advanced. 

 If you think you don't have a budget to advance your business's technology and that it lacks you from your competitors, then the reason might be that you are not using your budget right. For instance, investing in technology that can reduce costs is considered an intelligent decision, and, therefore, investing in Conversational AI shall be your choice.  

 Further, the ROI that conversational AI like Chatbots and virtual assistants delivers is way more than the traditional customer interaction methods. In a survey by Accenture digital, it is found that 57% of businesses realized that Chatbot had enhanced ROI that too on minimal investment. 

 Having humans or customer support executives handle customer queries can limit the availability of customer support after business hours or in different languages. That's where having conversational AI in your business can conquer these challenges. 

 These virtual assistants or mobile assistants can serve your customer even out of business hours. It ensures that your customer never feels bewildered or unclear about your business. Furthermore, the personalization of conversational AI can establish a superior customer experience.  

 Conversational AI: A winning strategy for your business 

 No matter if you are a real estate, food business, or a business of some narrow niche, conversational AI can assist in gaining enhanced ROI, advancing customer experience, and acquiring critical business insights. All this can surface benefits that are yet to be explored and were otherwise could not have been!

 So, leverage technology to advance your business's technology and win your target customers.