ConversationalAI for Customer Support
Businesses and consumers are evermore reliant on digital platforms and services, and their expectations of themgrow each year. Businesses are looking to conversational AI powered solutions tostay competitive, offer better client experiences, lower cost to serve, andincreasing personalization. There is already proliferation of conversational AIplatforms, as the market is growing and the costs and barriers to entrycontinue to decrease (example reference ForbesAI 2023). While there may be a plethora of conversational AIservices, most enterprises and organizations have legacy IT systems e.g., ITservice management systems, CRMs, Contact Centres etc., and these systems werenever designed for conversational AI and for new communication channels outsideof voice, SMS, and email. The leaders in these spaces are aware of theconversational AI opportunity, but the introduction costs can be costprohibitive with licenses and implementation costs for most businesses outsidethe Fortune 500.
Theglobal conversational AI market size, including chatbots and intelligentvirtual assistants, is expected to grow to at a CAGR of 30.2% to $22.6 billionby 2024.’
MarketOpportunity for Conversational AI Support
Conversational AI is a criticalenabling technology for conversational commerce and enables customers or clientsto interact with a business through messaging or voice assistants, just likeinteracting with a human assistant. Conversational AI is upending thetraditional Voice IVRs, contact centres, IT service management and salesautomation. The best example of conversational AI is ChatGPT which is a verylarge language model and can evaluate enormous data sets and offer timelyinsights. It can respond human-like text or images and videos generated by theAI. Most of these services today operate with a web-based chat, and very feware OMNI channel (voice, SMS, email, rich messaging, web chat.).
‘44%of companies who weren't planning to implement Conversational AI said that themain reason was due to a lack of skilled developers, not for a lack ofinterest.’
SourceAccenture Digital Chatbot Report.
The‘AI’ Problem for Enterprises Today
Most business leaders would like tointroduce conversational AI given the purported benefits, but introducing thistechnology can be daunting with existing enterprise systems, licensing costsand the development efforts. As an example, sales automation tools (e.g.,Salesforce) and IT service management systems (e.g., Service Now) each havemodules for the introduction of OMNI channel messaging and conversational AI.Most enterprises cannot introduce these capabilities as the enterprise wouldneed to buy new licenses, free up (or hire) developers to implement servicesand integrations to their enterprise systems.
This is because most servicesprovide an API and expect the enterprise to implement the solution. For largerenterprises with big budgets, they can justify the expenses. But for mostbusinesses, they do not have the teams or budgets in place makingconversational AI introduction exceedingly difficult. Even for businesses withthe budget, these businesses often operate a waterfall approach to new projectswith many stakeholders which consume a lot of time. Providing a businessoutcome approach can allow mid to large enterprises with an agile way to seethe benefits of OMNI channel conversational AI, and then expand to more usecases.
Howcan Payemoji help with Conversational AI?
OMNI channel messaging and WhatsApp businessplatform has transformed the way businesses engage with their customers and arestreamlining various aspects of their operations.
‘In2022, 1 billion users engaged on WhatsApp Business and Facebook Messenger in2022, an increase of 50% year over year growth.’
SourceMeta Conversations May 2022.
Engaging customers on their preferredchannel for personalized customer support to reminders, order placements, andeducational resources, our Payemoji platform empowers businesses to deliver personal,interactive, and safe communication. In summary, we provide any customerjourney in OMNI Channel messaging such as WhatsApp business, Facebookmessenger, Instagram, Google business messages etc. With our developer APIs wecan integrate into Enterprise IT systems and into Enterprise AI services, socustomers can be handed off to an AI agent where needed.
Sounds Interesting – Get in touch now.
We would love tochat with you about how your business could benefit from Conversational AI and OMNIchannel messaging and WhatsApp business platform. Get in touch with us at firstname.lastname@example.org and we will schedule acall.
So go ahead andjoin the conversation by taking advantage of the 23 hours that consumers spendper week on their Messaging Apps and use that to grow your Business.