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Artificial Intelligence

Conversational AI as Tool for Optimization

April 26, 2023
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It’s no secret that Conversational AI has become a familiar part of our everyday lives. With the rise of virtual assistants like Siri, Alexa, and Google Assistant, the way that we interact with technology has become more personalized than ever before. But the benefits of AI go far beyond simple voice commands and smart speakers; Conversational AI is a tool that can optimize efficiency in a wide variety of industries and contexts, from customer service to healthcare to education. 

Outcomes & Benefits From Business Process Perspective

Conversational AI systems, also known as chatbots or virtual assistants, are designed to provide personalized communication with users. For some, their first thought of AI might include Siri announcing the weather, or Alexa updating their shopping list. However, what many people don’t realize is that the capabilities of Conversation AI go much deeper and can be the key to optimizing business operations. AI can improve the efficiency, effectiveness, and personalization of communication with customers, employees, and stakeholders.

Industry Index

As AI technology continues to advance, businesses across a broad range of industries are discovering innovative ways to integrate it into their operations to enhance processes and productivity. As market offerings of AI continue to expand, almost every industry is finding new and unexpected ways to leverage new technologies. The capabilities of AI are limitless; here are just a few of the most unique and surprising real-world use cases of AI.

  • Real Estate: Online real estate platform Compass is using AI to create custom listing videos for clients in just a few clicks. Their AI-powered phrase recognition technology is able to pull out key listing attributes and pair them with the best suited images, generating a professional and personalized video for potential buyers. 
  • Construction: AI produces a multitude of benefits for construction and manufacturing companies. From increasing safety to optimizing work schedules, AI in the construction industry has proven its value. Buildots, a construction tech company, has created a wearable 360-degree camera that uses AI to monitor construction sites by detecting schedule deviations, incorrect installations, and unsafe conditions.
  • Financial: According to Insider Intelligence’s AI in Banking report, 80% of banks are aware of the benefits of Conversational AI in their industry. It enables frictionless, 24/7 customer interactions, lowers the possibility of human error, and increases customer satisfaction for a multitude of use cases, including but not limited to bank transfers, closing and opening accounts, card replacements, and password resets. Aside from these advantages, AI in financial settings can also identify variations in transaction patterns and other warning signs that could indicate fraud.
  • Media & Telecommunications: Businesses can leverage AI to monitor and analyze audio and video data to report findings in real time. Call centers, for example, can utilize AI-enabled solutions to transcribe and document phone conversations, which can then be analyzed to detect customer sentiment, identify key topics and issues, and mine discrepancies. Additionally, AI in customer care centers can help bolster real human interaction by managing mundane tasks and helping find a solution in a fraction of the time that it would take a real person. 
  • Healthcare: AI-powered chatbots can help patients schedule appointments, send reminders, and provide information about appointment logistics. Conversational AI tech can also provide patients with information on health conditions, treatment options, and self-care instructions.
  • Higher Education: By leveraging conversational AI, educational institutions can provide more personalized and efficient learning experiences, improve student outcomes, and reduce the workload on teachers and administrative staff. One way that AI can help to automate tasks for educators is by providing automated assessment and feedback on student assignments, while also identifying areas for improvement and recommending learning resources.

Power of Amelia AI

Amelia AI, Bluetext’s partner, and client of brand services, has established itself as an enterprise leader in Trusted AI by consistently providing reliable and secure AI solutions. Amelia uses a combination of natural language processing (NLP), machine learning, and cognitive reasoning to understand the intent of user requests and provide relevant responses. Unlike traditional chatbots, Amelia learns from every interaction, evolving and improving its understanding and responses over time in order to better all future interactions. 

One of the key advantages of Amelia is its ability to integrate with existing enterprise systems, enabling seamless communication across departments and workflows. Amelia can also be deployed across multiple channels, such as web, mobile, and voice, providing a consistent and personalized experience to end users. Amelia is able to optimize business efficiency across all types of industries by streamlining processes and elevating customer service and experience. For example, Amelia AI was hired to fill the role of Virtual Engineer for CGI clients, specifically handling incident resolution and ticket management. Through the engagement, Amelia helped CGI reduce client outages by 30 percent.

Amelia also paired up with Visionworks to transform their customer experience operations by operationalizing the process to schedule eye exam appointments, provide order status updates, answer store-related questions, and more. Amelia represents a significant step forward in the development of conversational AI, providing organizations with a powerful tool to improve customer engagement, reduce costs, and drive innovation.

The Future of AI Optimization

As natural language processing and machine learning algorithms improve, AI technology will become increasingly adept at understanding and responding to human speech in more complex and nuanced ways. Companies that have successfully incorporated AI into their business operations have proven that they can automate routine tasks, reduce operational costs, and enhance customer satisfaction and retention. Beyond improving processes, AI technology can lend valuable insights into customer behavior and preferences, ultimately improving and personalizing their experience. With the potential to transform nearly every aspect of business, it’s no wonder that AI is becoming an increasingly popular technology for companies to adopt.

Frequently Asked Questions (FAQ)

How is conversational AI used beyond simple voice assistants?

Conversational AI goes far beyond Siri or Alexa. It is used to optimize efficiency in industries like healthcare, education, and finance by handling tasks such as scheduling, providing customer support, or identifying fraud. These systems improve communication with customers, employees, and stakeholders by offering personalized, efficient, and reliable responses.

What are some surprising industry uses of conversational AI?

Industries like real estate, construction, and telecommunications have found innovative applications. For example, Compass uses AI to auto-generate listing videos, while Buildots employs AI-powered cameras to detect safety or scheduling issues on construction sites. Telecom companies also leverage AI to analyze customer sentiment in real-time.

How does conversational AI enhance the financial sector?

Banks utilize conversational AI to enable 24/7 customer interactions such as account management, transfers, and card replacements. These tools reduce human error and increase satisfaction while also detecting fraudulent patterns. This improves efficiency while safeguarding both the bank and its customers.

What makes Amelia AI stand out from traditional chatbots?

Amelia AI combines NLP, machine learning, and cognitive reasoning to learn from every interaction and improve over time. Unlike simple bots, Amelia integrates with enterprise systems, supports multiple channels, and delivers consistent, reliable user experiences. Case studies show Amelia significantly reduces outages and improves customer service operations.

How can conversational AI transform higher education?

Educational institutions are using conversational AI to personalize student learning experiences. Chatbots can provide real-time feedback, automate grading, and recommend resources. This reduces workload for teachers while improving student engagement and outcomes.

What is the future potential of conversational AI in business?

As natural language processing and machine learning evolve, conversational AI will understand more nuanced speech. Businesses adopting these tools will automate routine tasks, reduce costs, and personalize customer interactions. In turn, they will gain insights into customer behavior and enhance long-term loyalty.