This Is How Conversational AI Is Helping Businesses

Conversational AI enables AI technologies such as chatbots to interact with users in a human-like manner. By linking the rift between human and computer speech, it creates communication between the two simple and realistic
This Is How Conversational AI Is Helping Businesses
Image credit: Entrepreneur India

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Content Provider
Freelance writer
3 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The world is getting dependent on artificial intelligence (AI) at a rapid pace than ever before. The surge in AI advancements is exponential. One such advancement is conversational AI. Conversational AI enables AI technologies such as chatbots to interact with users in a human-like manner. By linking the rift between human and computer speech, it creates communication between the two simple and realistic.

Chatbots: The front end AI

Entrepreneur India discussed the rise of conversational AI with experts from the space. The speakers were

All end users need a quick query fixing period and they have the facility to converse in their preferred language. Many sectors such as banks, airlines and travel companies seek assistance. For example, most of the firms which approached Observe.ai wanted a solution to deal with a large number of customers using the help of conversational AI. The demand has surged since the lockdown. Akash Singh, co-Founder and chief technology officer, Observe.ai explained how user experience has become better with the help of chatbots.

Will AI steal you of your job?

According to Singh, due to the work from home, call centre assistance could not be monitored by anyone. He said that with the advent of AI, the quality of work will increase for humans as the mundane work will be done by AI. In this process, the normal candidate will have to upskill himself to get the job.

The buildup that bots would evolve to be the next great thing can be associated literally to app weariness. Customers nowadays expend the utmost of their time using apps built by Apple, Google and Facebook. However, maximum smartphone owners don’t sell any apps each month. Bots illustrated a new path for firms to adopt newborn natural speech technologies to generate commerce, usage and attention—the buzzwords of the app economy. Ignited by unrestricted platforms such as Facebook’s Wit.ai accession and others, creators and groups alike sprinted to leap on the post-app-fatigue bandwagon.

Now, less than two years later, 100,000 bots litter the Facebook messenger terrain. While the effort gave rise to concentrate and media glow, it’s comfortable to say the chatbot uprising did not go well. As maximum of these chatbots has been considered unnecessary, the time has come to segregate the wheat from the chaff.

The Future Of Conversational AI.

Despite the bursting of the “consumer chat bubble” in 2017, technology is striding forward with tremendous steps in the enterprise.

Intelligent conversational interfaces are the simplest way for businesses to interact with equipment, assistance, consumers, suppliers and workers everywhere. There are tons of corporations that furnish AI-driven chattering programs specifically focused on high effect use cases, encompassing IBM’s Watson, KAI etc

Creative assistants manufactured on these conversational AI platforms can be educated and proceed to understand every day. Significant applications of conversational AI are already quietly up and running, and as tax advantages resume to amass, the trend will expedite in the forthcoming future.

Is your private data in safe hands?

According to Sourabh Gupta, CEO and Co-founder, Vernacular.ai, his company does not use any person's data of the user and also educates his clients about their data.

Singh added that he knows that Apple's voice assistant Siri has two kinds of models and it only sends data that is necessary to their servers and nothing more than that. He says that more and more people should know about this.

Latest on Entrepreneur