In today’s digital era, businesses are increasingly leveraging AI technology in order to improve the quality of their products and services. Startups and large corporations are trying to reap the benefits of this promising technology before their competitors get a share of the pie. This comes to no surprise when we look at artificial intelligence market forecasts. In fact, according to Tractica, the use of AI software is estimated to grow to $36.8 billion by 2025 with a projected compound annual growth rate (CAGR) of 56.8%.
A conversational AI platform is a tool that automates human-machine interaction and workflows. Developers can use it to build custom chatbots or virtual assistants and integrate them within their website/portal, social media platforms, messaging channels (Facebook messenger, Slack, etc.) and more.
Advanced AI conversational platforms such as Botpress’ use natural language processing (NLP), natural language understanding (NLU) as well as deep learning to allow humans to interact with websites and applications via text or voice. Thanks to deep learning, this technology constantly learns and improves itself.
Throughout history, communication has either been verbal, written, or visual. This allowed us to participate in conversations and learn more about ourselves and the world around us. Conversations, in particular, require two different elements. Multiple people and a means of communication.
Fortunately, throughout the years, with technology advances, we’ve discovered new innovative means of communication. We have now unlocked new ways to communicate directly with our technology in a conversational environment using chatbots.
Having natural conversations with robots is now possible. Not only that, but they make our personal and professional lives easier. Indeed, today we can go on vacation and ask for a device to lower the blinds at home as if we were there, to turn on the air conditioning when we are about to arrive, to tell us how to say thank you
Conversational Artificial Intelligence can be defined as the element responsible for the logic behind robots exchanges, it is the brain and soul of the chatbot. Conversational AI helps the robot lead the users to a specific goal. It allows for human-like conversations between machine and humans.
Conversational AI is powered by Natural Language Processing (NLP). NLP focuses on interpreting human language, while developers present the basic framework for how a conversation can unfold. Simply put, conversational AI and humans work together to create a virtual conversational experience in real-time through chatbots or conversational platforms. It is the evolution of artificial intelligence, which has learned to speak and listen.
Conversational AI uses the following technologies in order to understand, react and learn from interactions:
How it works is that the application receives data input from a human, which can be in the form of written or spoken words. If the information is spoken then Automatic Speech Recognition (ASR) is used transcribe the spoken words into text.
The application then uses Natural Language Understanding (NLU), which is part of NLP, to determine the meaning of the text and the intent behind it.
The system then uses dialog management in order to form a response based on its understanding of the text’s meaning. It could also use Natural Language Generation (NLG), the other element of NLP, in order to convert its response in a format that will be understood by humans.
Following this step, the application sends its response to the user (either through text or speech synthesis).
Finally, machine learning allows the application to learn and improve over time. Deep learning makes the machine more intelligent through each interaction.
Now that you know what it is, how does it benefit you? Well, in many ways:
There are various conversational AI applications:
If you’re using a chatbot, which is a conversational AI application that is less advanced, you’ve probably faced at least one of the following challenges:
When you’re dealing with sensitive data and personal information, Conversational AI applications have to be designed in very secure ways to make sure that privacy is respected.
A lot of factors can influence the conversation between a machine and a human such as language, sarcasm, slang, etc. Conversational AI systems have to adapt to constant changes in communication to be able to keep up with human conversations.
Conversational AI applications are becoming easier to use but there are still people that are not 100% comfortable with using this technology, mostly because they have little knowledge about it. Educating your customers about it can help the technology be better received for people who are not familiar with it.
Conversational AI will drastically change our interaction with commerce online. It will affect all aspects of when, where and how you interact and communicate with your clients. With conversation based on Artificial Intelligence, you will hold seamless, synchronous conversations with your clients across any platforms they decide to choose to be using, no matter where they are located and the medium they are using. Conversational AI is the future of enterprise and customers interactions.
Conversational AI platforms rely on data, context and intent to interact with users and manage dialogues. AI chatbots communicate with users in either written or oral language. They are designed to hold conversations with humans to provide them the information they need and perform the required tasks. Their use is unlimited: they can direct website visitors to the appropriate services, give customers detailed information about products, improve customer support, provide immediate resources to employees, schedule appointments, etc.
Chatbot platforms facilitate the communication between businesses and their stakeholders. The language that is used by AI platforms even takes into account emotional inputs in order to understand the real meaning behind messages. In fact, they are used in the healthcare industry to offer emotional support to patients. AI conversational technology can be leveraged by all types of businesses and institutions (government, airlines, hotels, etc.) within a range of different sectors: gaming industry, retail, real estate, education, etc.
AI solutions are highly scalable. They are available in various languages and on multiple channels.
AI platforms collect valuable data and insights, which can help businesses improve their service and products. They can also navigate huge databases quickly and find the requested information much faster than a human.
Chatbots are operational 24 hours a day, 365 days a year. This improves your customers’ experience and satisfaction. You don't miss a single opportunity!
With task automation, employees are more productive and spend less time on pointless tasks. Plus, customers can find the information they are looking for faster.
They save companies a lot of money in the medium and long term by automating tasks and increasing operational efficiency.
AI platforms lean and become smarter and more flexible after each conversation they have with users.
Chatbots can record data, trends, and metrics in order to monitor interactions and improve their processes and responses accordingly.
Conversational AI platforms can easily be integrated within social networks and messaging apps (WhatsApp, Messenger, etc.) to carry out all kinds of procedures without having to change the channel, through mobile apps downloaded on mobile devices.
Artificial intelligence is one of the top emerging technologies. People are rapidly seeing its potential and value but businesses still need to grasp and understand the different uses of AI chatbots (ex: employee chatbots). The competition is fierce in this market but solutions still need to be fine-tuned.
Here are the main market trends surrounding conversational AI:
Businesses are making good use of conversational data and analyzing it in order to get into the minds of their customers and better understand their needs. This helps them improve the quality of their AI chatbot, services and products.
Most businesses initially implement chatbot platforms in order to improve the customer experience and later realize that they can be leveraged for internal use. Conversational interfaces are very useful for employees as they can provide immediate and useful information and perform automated tasks. This helps companies in a range of different fields improve productivity and efficiency.
Chatbots are gradually becoming a thing of the past, and with reason. Bots are tools that are built to perform automated tasks and map out conversations while AI powered chatbots use machine learning to understand intent and context to provide the most appropriate answers. Plus, over time and through experience, they learn and improve the conversational experience.
AI platforms are more powerful because they can hold conversations with users and provide a personalized experience. Businesses and institutions are switching from bots to AI platforms because they are looking for more intelligent solutions.
We are increasingly seeing the emergence of open-source conversational AI platforms. Thanks to these platforms, collaboration is made possible so that developers and experts can work hand in hand to provide advanced solutions. This enables infrastructure optimization, task automation, knowledge sharing and constant advancements for AI conversational platforms.
Business owners that have heavily invested in technology have seen their projects fail due to lack of customization. They are now looking for flexible solutions that adapt to their changing needs. They want AI platforms that generate positive ROI and that are customizable.
If you are looking for a flexible, open-source AI conversational platform, Botpress is the best solution for your business. Don’t hesitate to contact us if you want to have more information regarding our services.
Disclaimer: We encourage our blog authors to give their personal opinions. The opinions expressed in this blog are therefore those of the authors. They do not necessarily reflect the opinions or views of Botpress as a company.
Chatbots are increasingly being incorporated into businesses and fast becoming the future of the Internet...