Woman talks to a Conversation AI virtual agent

Why Is Conversational AI Important?

Conversational AI powered IVR is shaping up to be the next major shift in voice communications. It’s easy to understand why. Conversational AI offers the ability to vastly improve customer calls in measurable ways. You probably use conversational AI on at least one device, like your mobile device, or a device like Amazon Echo or Google Assistant. But what is conversational AI and why is it important in today’s overwhelming space of necessary technology? 

What is Conversational AI ?

Conversational AI is the combination of natural language processing (NLP) and artificial intelligence (AI). It enables computers to engage in natural voice dialogue with humans. Common use cases for conversational AI in the IVR space include payments, account inquiries, card activation and servicing, and surveys. These applications span a variety of industries, including but not limited to financial services, healthcare, insurance, prepaid cards, and utilities.

The combination of NLP and AI empowers customers to express their intent in their own words. The better you understand your customers, the better equipped you will be at providing the best experience possible. Even by simply reducing friction, your company could experience significant gains. Conversational AI makes the call process quicker and more efficient. 

Why is Conversational AI business critical?

96 percent of consumers think it’s important that support calls pick up from where they last left off, a feature that’s made possible through voice transcription. Businesses use conversational AI for marketing, sales and support to engage along the entire customer journey.  Because conversational AI doesn’t rely on manually written scripts, it enables organizations to automate highly personalized customer service resolutions at scale. This makes every interaction feel unique and relevant, while also reducing effort and resolution time. As a result, customers tend to report higher levels of satisfaction.

The more advanced conversational AI can enable companies to analyze and identify when customer questions and issues to identify common pain points to preemptively intervene before a customer ever reaches out.

Conversational AI for CX is incredibly versatile and can be implemented into a variety of customer service channels, including voice, chat, and other digital channels. Consumers think it’s important that support calls pick up from where they last left off, a feature that’s made possible through voice transcription. 

Conversational AI also has the power to essentially serve as a personal assistant to your call agents, providing them with any information they need in real-time. Additionally, these assistants can take care of the note-taking and schedule follow-up appointments so that agents can focus on the customer interaction. 

Conversational AI lets applications cut through the red tape and direct callers to the right self-service solution or the agent that’s right for their specific need. When customer calls are more intuitive, easier to use and closed faster it’s a win for everyone. In today’s IVR landscape, endless phone menus can be traded in for a system that can ask customers open-ended questions. As a result, the possibilities are endless.

What are the Benefits of Conversational AI?

The combination of NLP and AI empowers customers to express their intent in their own words. The better you understand your customers, the better equipped you will be at providing the best experience possible. Even by simply reducing friction, your company could experience significant gains.

Not only does conversational AI make the call process quicker and more efficient – an improvement to your key success metrics as well as your ROI – it’s also an opportunity to scoop out the competition by jumping on this game-changing tool first. Perhaps the most interesting benefit is that conversational IVR provides companies with a treasure trove of customer data. This intel can be utilized to provide customers even more of what they want. 

While right now it may appear forward-thinking to try conversational AI, it’s only a matter of time before this becomes the industry standard. One only needs to look to the ever-growing VoIP market to know the time has come to get educated on the options now. 

Conversational AI also has the power to essentially serve as a personal assistant to your call agents, providing them with information they need at the tip of their fingers. Additionally, these assistants can take care of the note-taking and schedule follow-up appointments so that agents can focus on the customer interaction. 

How can Conversational AI be leveraged?

Understand Caller Intent

By determining caller intent quickly, a positive customer experience can be expedited. Consumers can describe in their own words what they need. Conversational AI lets applications cut through the red tape and direct callers to the right self-service solution or the agent that’s right for their specific need.

Speed Call Resolution

Prompts and phone tree menus can take time if the IVR application suite is extensive, creating a greater risk of caller frustration. AI and NLP can determine caller intent faster and decrease overall call time.

Creative Competitive Edge

Set your customer service apart from the competition by resolving customer inquiries more efficiently. Happy customers are easier to retain and more likely to give you word-of-mouth recommendations, and that can give your company a major edge.

Explore conversational AI apps that allow callers to express themselves in their own words.

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