When you hear the words “conversational AI,” what comes to mind? Most people just consider it to be an advanced form of artificial intelligence.
However, conversational AI is something different altogether. It refers to the process in which brands can create a more personalized dialogue with their customers by using natural language processing and machine learning capabilities to create a consistent customer experience across all digital channels.
The use of conversational AI has increased exponentially in recent years as brands are becoming more aware of the need for consumer engagement through better customer service.
With consumers wanting to interact with brands on their own terms, not just at set times during business hours, It provides a means for this type of interaction.
It also helps with the volume of customer inquiries that need to be handled, which can help brands with their bottom line.
The customer experience can be divided into three categories: customer acquisition, engagement, and support.
According to McKinsey reports, companies that successfully implemented conversational AI saw a “twofold increase in customer experience, reduced cost to serve by 15-20%, improved churn, upsell and acquisition by 10-20% as well as a fourfold increase in employee productivity.”
At each of these stages, conversational AI can play a critical role in delivering a more impactful customer experience.
Conversational AI is paving the way for more effective customer communication, which will help brands retain customers and provide a better customer experience. For today’s users, customer experience is the key to their buyer journeys.
Consumers are well aware of their options and the value they receive. They are more conscious of their decisions and favor brands that stand out by creating happy customer experiences.
Not only does delivering great user experiences matter, but also doing it consistently across each digital touchpoint is crucial in keeping customers satisfied.
Read More: Global Conversational AI Market Size to Reach USD 32.62 Billion by 2030 at CAGR 20%
