Conversational AI- How to bring growth?

We all know that the year 2020 has not treated us so well. The world has been facing a global challenge. But no doubt that if there is one sector that is smiling bright, which is Digital Transformation. Digital transformation is no longer an “option” in 2020 and the upcoming future. It is now the “essential” component for the world of business, irrespective of size and industry.  

In past years digitization has shown certain dazzling transformations, especially during the year 2020, because of the pandemic that has happened. May by forcedness or by motivation, many businesses have taken significant measures to enhance digitization globally.  

With the advancement of digitalization, the golden age of conversational artificial intelligence is also here. Chatbots – conversational assistants are transforming business communications in a more personalized way. Brands using chatbots are making more personal connections and getting higher engagement with their prospects, customers, and audience.  

Businesses are using chatbots for many different use cases. Hence, they are divided into many categories like Virtual Assistants to assist users with products and services, customer support chatbots to answer customer’s queries, transactional bots, etc. Sectors like government, healthcare institutions, real estate, e-commerce and retail, manufacturing enterprises, and more are taking the initiative towards investing in AI and chatbots. 

 Here are some chatbot trends we may witness in 2021 – 

1. Chatbots will soon accept your Payments securely 

Soon chatbots will be able to bring revenue directly into your accounts. It will become super easy for your users to make a payment using simple commands and buttons like “Pay phone bill,” “Checkout and Pay,” etc. The conversation led the user to the final step of payment without any complications and errors. Soon you’ll be able to connect your payment gateways like PayPal, digital wallets, and other gateways. Customers can pay without even leaving the messenger platform. 

2. Chatbots will bring more human touch. 

As the technologies bring innovation day by day, instead of using flow-based bots, the business will prefer more NLP-based bots to analyze customer’s sentiments. NLP based bots are good at personalized recommendations, understanding user’s context, and predictive analytics to intelligently handle the conversations and the queries. But at this stage of technological advancement, there are still some challenges to implementing the best understanding bot successfully. 

Are you using the right technology for your chatbot? Check out our Checklist to Determine Best NLP Chatbot to evaluate your current solution.

3. Smart IVRs are going to cover the customer service market. 

Conversational IVRs enables human-like interactions with brands. It allows customers to interact with the system naturally in their own words, without going manually through the complicated menu trees. With the advancement of Natural language understanding and processing, we can expect wide adoption of conversational IVRs in 2021. The smart IVRs will be able to understand customer phrases and will provide insights into specific issues. If a caller says things that the IVR does not understand or cannot answer, a live agent can seamlessly intervene and take over. 

4. Voice will take over the industry. 

Due to the high adoption of Google Home and Alexa, people are started enjoying connections with their brand via smart speakers, which led to the popularity of voice bots. With time, businesses have already begun adopting chatbot. But as per the public opinion, they are enjoying voice bots more to ask opening hours, make bookings, and purchasing products. Because of the competition and demands, voice bots will be heroes in 2021. 

Dive deeper into the comparison of voice-enabled bots and traditional chatbots in Voice-Enabled Bot vs Chatbot: Which Is Better Fit for Your Business.

Since bot and Artificial intelligence is evolving these days, Kevit.io keeping its finger on the pulse of how bots will shape the future of a variety of industries. By Converting your targeted audience to your customers in no time with our expertise. Tour our services at Kevit.io or mail us at coffee@kevit.io to get the best engagement tool for increasing your revenue