Articles

Conversational AI Platform- Transforming Industries

July, 2019

Conversational AI is changing the way customers interact with business, resulting in enhanced customer experience and increased competitive advantage. Almost every industry realizes the potential of conversational AI to engage digital customers.

Impact of conversational AI on the following industries:


  1. BFSI: Chatbots and Intelligent virtual assistants in BFSI is delivering personalized product, services and offers based on the customer profile and life events. BFSI industry to eliminate the bottlenecks and identify the areas of improvement is adopting conversational AI platform.

  2. Retail and E-commerce: Conversational AI platform in retail and e-commerce industry by sensing the customer intent opens new channel for online product sales, by offering relevant recommendations to the customers.

  3. Travel and Hospitality: Conversational AI platform is helping the travel and hospitality industry in making each customer to feel special by sending personalized emails based on their recent stays and travel. Based on the previous destination, behavior, and persona, travel and hospitality industry are providing top notch experiences to its customers across various channels.

  4. Telecom & ITES: For telecom and ITES customers, personal and consistent level of service matters a lot during their entire journey, and if they are not satisfied with the experience they will switch to a competitor. For solving these challenges, this industry is adopting conversational AI platform market.

  5. Healthcare and Life Sciences: Healthcare industry for increasing the quality of care and streamlining their operations are focusing towards conversational AI. Conversational AI can help the healthcare companies in enhancing the patient care quality and safety.

  6. Media and Entertainment: Conversational AI have also disrupted the media and entertainment industry which includes OTT media, gaming, films and music. From advertising to promotion and product discovery, conversational AI is rapidly evolving in this space.


Conclusion:

More and more companies across verticals are integrating conversational AI assistants with their channels to automate the communication with customers. Conversational chatbots and virtual assistants by understanding the context and sentiment during the conversation, enhances customer engagement, and increases the customer satisfaction rate.

– Sonam Chawla
ICT – Research Analyst
Infoholic Research