Debunking the Top Conversational AI Myths

Conversational AI is a strong expertise that has the potential to rework buyer experiences throughout industries. Nevertheless, 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 goal to spotlight 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

One of the vital frequent misconceptions about conversational AI is that it’s the similar as a conventional chatbot. Nevertheless, whereas they each facilitate some type of human-machine communication, they aren’t interchangeable. In actual fact, the time period “chatbot” encompasses numerous sorts of chatbots which have developed over time. 

Probably 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 choice tree to answer to customers, that means they’ve a set of programmed questions and solutions. Rule-based chatbots are solely 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 circumstances 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 primarily based on the choice chosen, the bot generates a response.

       Examples of Rule-Based mostly Chatbots, Dom by Dominos and Brie by HelloFresh

However, conversational AI-powered chatbots are clever bots that perceive human language and context to offer customized responses. In contrast to rule-based chatbots, these clever bots are extra adaptable as a result of using AI. They are often leveraged for both text-based or voice interactions, or perhaps a mixture of each, providing quite a lot of use circumstances.

Clever bots even have omnichannel capabilities and might be deployed just about anyplace – on web sites, social media platforms, and even inner portals. With options like pure language processing, improved intelligence, and the pliability to deploy anyplace, companies can use these clever AI-powered chatbots to assist clients 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 clients create new financial institution accounts, get bank cards, and deal with extra repetitive, complicated actions. One of the best half is that Niko can talk with clients of their most well-liked language, on this case, Slovenian.

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

In accordance with the Kore.ai 2023 Buyer Expertise Benchmark Report, when an interplay will get extra complicated, shoppers choose clever bots over primary ones by double digits. In the end, it is important to know that whereas all conversational AI-powered chatbots are certainly chatbots, not all chatbots are powered by conversational AI.

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

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

Nevertheless, there isn’t any want to fret! Conversational AI is not right here to exchange people, however relatively to help and empower them. 

Working in customer support is extensively identified to be one of the vital demanding jobs, even rating among the many prime 10 most demanding jobs worldwide. Because of this, many corporations wrestle 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 dear and negatively impacts buyer satisfaction. Nevertheless, conversational AI provides a possible resolution to this problem. 

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

The Kore.ai AgentAssist platform is an efficient instance of a conversational AI-powered resolution for contact facilities. AgentAssist will help contact middle 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 numerous methods for information and suggesting the subsequent greatest motion primarily based 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 Heart Agent Expertise Benchmark Report additionally discovered that 85% of the brokers expressed their need for a device that may persistently supplies them with up-to-date and complete buyer historical past info. 

In the long run, whereas it’s true that conversational AI-powered chatbots have the potential to exchange some contact middle consultant duties, they cannot utterly substitute them. You will need to do not forget that solely people can substitute people. 

Delusion #3: Conversational AI is just for large firms

It was certainly massive firms that first carried out conversational AI since they had been those who had the funds and assets to deploy and preserve an clever chatbot. Nevertheless, that’s not the case anymore.

Organizations of any measurement can now make the most of conversational AI-powered chatbots, as they’ve change into extra reasonably priced and accessible than ever. Numerous chatbot platforms and frameworks are available out there, enabling organizations to decide on one which fits their necessities and funds. Using conversational AI-powered chatbots can profit startups and small to medium-sized companies probably the most, as they’ll 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 middle processes and noticed a lower within the variety of calls they acquired 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 diminished agent-serviced calls by 24% in simply 30 days

With the introduction of free trials and startup-specific packages, 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 value. 

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

In accordance with analysis, Gartner predicts that by 2027 chatbots will change into the first customer support channel for a couple of quarter of organizations. Within the context of customer support, rule-based chatbots, whereas helpful in some circumstances, can really feel impersonal and chilly to clients. Conversational AI-powered chatbots, alternatively, have gotten more and more common for customer support as a result 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 customized experiences? Superior Pure Language Processing algorithms permit the clever conversational AI-powered bots to know context and interpret nuances that really feel like human conversations. Including in a generative AI functionality supplies fast and customized responses primarily based on buyer and product information. 

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 reveals that extra people are selecting to make use of clever bots for easy and sophisticated 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. Nevertheless, 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 median of two hours a day on their favourite platform, social media has change 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 clients are most lively and accessible. 

Are you interested by why companies should have a presence the place their digital clients 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 quick 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 recommendations, upselling and cross-selling merchandise, and guiding customers by the buying course of.

Kore.ai provides many integration choices, permitting companies to decide on the appropriate 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 personalised method, clever bots regularly want entry to enterprise methods to collect and modify information to carry out these duties. Because of this, companies have to  set up correct precautions to safeguard confidential info and will deal with AI integration with care. Nevertheless, with the tight privateness rules and security precautions that conversational AI platform corporations have in place, these issues are sometimes simply misconceptions.

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

Person authorization and authentication – A chatbot should have authorization when it really works with a consumer’s delicate information. Person authorization ensures the appropriate particular person has entry to the proper information and companies. Authentication, alternatively, helps defend customers’ information and gadgets from being misused.
Information redaction – A consumer’s non-public info, corresponding to their contact quantity, social safety, and bank card particulars, is routinely deleted after a chosen interval. This function applies to each the consumer and the chatbot.
Finish-to-end encryption – This safety function ensures that solely the speaking events can learn messages inside the chat window. The dialog is encrypted in a means that solely the supposed recipient can decrypt it, and nobody else can entry it.
Safety Audits and Compliance – Common safety auditing ensures that the platform maintains required security measures and complies with rules corresponding to GDPR, HIPAA (for medical use circumstances), and others. 

It is vital to notice that chatbots don’t pose a larger safety danger than different applied sciences. Nevertheless, to make sure the profitable implementation of the expertise in your corporation and to take care of consumer belief, it is essential to prioritize the protection of the platforms used to construct the AI-powered chatbot.

The newest CX Benchmark Report is right here! Wish 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 frequent misconceptions cleared up, companies can really feel extra assured when implementing AI-powered expertise and profit from higher agent productiveness whereas rising 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 Giant Language Fashions (LLMs) and Generative AI to construct human-like conversations that create lasting buyer experiences.

Wish 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? Guide a session and begin your conversational AI journey immediately.