5 Industries Being Changed by Conversational AI
Conversational AI is a growing industry. It encompasses solutions including chatbots and voice-activated smart assistants to aid users in getting answers to their questions.
Even though conversational AI is a relatively new technology, some industries have capitalized on it early and have noticed impressive gains. Here are some of them.
1. Travel
The internet substantially changed the travel industry by empowering people to research and book their trips from the comfort of home. Conversational AI increased the opportunities for individuals to do things themselves.
Various airlines operate chatbots that let people get answers to common questions without waiting for a representative to pick up the phone. AirAsia even made the controversial decision to close its traditional call centers to go all-in with a chatbot called Ava. That bot can answer hundreds of questions and help people learn what they need to know about their flights.
Also, people traveling on the SunExpress airline can book and pay for their flights via an Alexa skill. Similarly, TripIt allows people to import information about numerous upcoming journeys, then use smart speaker voice queries to find out pertinent information. For example, they can find out about a flight’s departure time or ask what the weather’s like at a destination.
These offerings let people get information about their travels in a matter of seconds. As a result, industry representatives don’t have to spend as much time answering repetitive questions. Plus, consumers don’t feel as frustrated because there’s no need to wait as long to get the required information.
2. Health Care
There are compelling ways to implement conversational AI in the health care sector, too. One of them is to reduce no-show rates. Those are particularly problematic for providers because they could cause unwanted gaps in their schedules, meaning some people who need prompt care miss out on chances for treatment.
Northwell Health started using a chatbot to assist people with booking colonoscopies. Research indicates that as many as 40% of the people who schedule appointments don’t show up for them or cancel their procedures. The problem is even higher in disadvantaged or vulnerable populations.
The Northwell Health chatbot aims to reduce some of the factors that could cause people to balk regarding this procedure. For example, it tells them what to expect from this colon cancer screening process and how it could save their life. The chatbot gives date- and time-based appointment reminders, too.
Asparia is a technology provider offering a chatbot that integrates with electronic health records (EHR). Besides decreasing instances where people don’t show up for their appointments, the chatbot reduces the manual tasks providers typically must handle during substantial portions of their days.
3. E-Commerce
In the e-commerce sector, people could delay their purchases if they don’t have immediate access to the required information. The best time for a company to start using conversational AI is when they have strategic reasons for making that decision. Voice-activated technology, for example, could eliminate the repetitive clicks or taps that could cause a person to get fed up and decide not to buy something.
However, conversational AI for e-commerce doesn’t always mean moving forward with a hard sell. For example, Petco teamed up with Alpine AI, a company that has more than 3,700 conversational applications for brands using Amazon Alexa and Google Assistant. It wanted a product that would showcase Petco as a trustworthy provider of all information concerning animal family members.
The idea is that, as people see that Petco’s conversational AI app gives them reliable content, they can depend on the brand for top-quality pet products.
Also, chatbots used in e-commerce can set expectations. SallyBot is an e-commerce chatbot that integrates with numerous existing platforms. It checks on an order status twice a day, and when the delay probability is greater than 90%, it automatically sends an apology message to the buyer. Conversely, people can use the bot to get an idea of when to expect their items. Knowing that information helps increase satisfaction.
4. Finance
Money management can be challenging for even the most committed people. Chatbots aim to make it easier. For example, Cleo is a chatbot that connects to a person’s bank account and assists the individual with sticking to a budget. It can inform a person if they can stay within the bounds of a financial framework and still afford to go out for dinner on Friday night. Since the platform also helps people save for certain goals, it could be exceptionally beneficial for someone who wants to save for a home loan or a new car.
Banks are also cautiously venturing into voice-activated technologies, but some security concerns remain. For example, a user may not want their roommate to hear an automated voice announcing the person only has $20 in their account.
NatWest recently trialed voice banking for customers in the United Kingdom. People can only do basic things like check their latest transactions or balances for now. However, the bank said it might eventually allow people to perform instant money transfers or pay bills. If those things happen, customers could find it’s easier to stay financially fit and avoid catastrophes.
5. Dining
Managers who work in the restaurant sector need impeccable forecasting skills to keep things running smoothly. For example, they must predict how much factors like holiday and weather patterns could affect business, then staff the location accordingly. Conversational AI could make that daunting task much more achievable by taking reservations from customers. Then, a restaurant only needs to figure out metrics for walk-up traffic.
For example, an Israeli restaurant chatbot startup called Order.Chat lets people book tables in Hebrew or English in less than a minute. Statistics indicate that doing the same thing over the phone takes 5.5 minutes. Also, the chatbot makes recommendations for other suitable places to eat if the preferred restaurant does not have any open tables.
In addition to making things simpler for diners who want to plan hassle-free meals out, this system lets restaurant managers look at the reservation system and see which periods are most in demand. They can then react by calling in extra workers or sending some home.
Conversational AI does not only apply to sit-down meals and fancy establishments. Chipotle was so impressed with the outcomes of a voice-recognition ordering service that it planned to use it at all its locations. The intelligent bot listens to what a person says, then confirms the order. It also attempts to up-sell by asking if a person wants to buy a side or a drink.
Such an application frees up workers to do other things, such as serving in-person customers. Chipotle’s voice-recognition bot works over the phone so humans don’t have to answer calls from hungry customers.
An Exciting Future for Conversational AI
The examples here indicate that the possibilities are virtually endless for industries to harness the power and potential of conversational AI. As things progress, people can expect similar developments in these industries and others.
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