A Guide to Conversatonal AI and Its Business Impact
You've probably heard of conversational AI, or the use of artificial intelligence to simulate human conversation. Chances are you've even interacted with a chatbot that uses conversational AI. But what is it, really? And how can it help your business? Keep reading this guide to conversational AI and its business impact.
What Is Conversational AI?
Conversational AI is a branch of artificial intelligence that deals with natural language processing and machine learning. In other words, it's a way of teaching computers to understand human language and respond in a way that simulates human conversation.
One of the most common examples of conversational AI is the chatbot. You've probably interacted with a chatbot at some point, even if you didn't know it. Chatbots are commonly used by businesses to provide customer support or lead generation.
Businesses are beginning to see the potential impact that chatbots can have on their bottom line. A recent study by Juniper Research found that 80% of businesses will be using chatbots by 2025. This suggests that chatbots are not going away anytime soon and that businesses need to start taking them seriously as a tool for customer engagement.
How Does It Work?
Conversational AI relies on a few different technologies, the most important of which are machine learning and natural language processing. Machine learning is a method of teaching computers to recognize patterns. This is how a computer can learn to understand human speech. Natural language processing is a method of teaching computers to interpret and generate human language. This is how a computer can learn to carry on a conversation.
What Are the Benefits?
There are many benefits of using conversational AI for your Shopify brand. First, it can help you improve customer satisfaction by providing faster and more accurate resolutions to customer inquiries. Second, it can help you save money on customer support by automating routine tasks such as answering common questions and escalating complex issues to human agents. It can help you gather valuable data about your customers that can be used to improve your business. Finally, it can help you build relationships with your customers by providing them with personalized attention 24/7.
Conversational AI is changing the way businesses communicate with their customers and it’s having a profound impact on the bottom line. From increased engagement and conversions to lower costs and 24/7 support, there are many reasons why businesses should start using chatbots today. Time-saving automation is an added bonus that will only become more important as we move into the future!
If you're not using conversational AI in your business yet, you're missing out on a lot of benefits. Conversational AI can help you save time and money, gather valuable data about your customers, and build relationships with your customers. So what are you waiting for?
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