How AI and ML makes wondrous foundation for a good business chatbot?

20 September 2018 / By TE Author

Talking to a bot and getting a human-like response is not science fiction anymore. Bots and artificial intelligence is used widely for customer service today, and it is proved to improve the customer experience big time. Due to the rise in chatbot development services, chatbots have become very popular among businesses these days. The popularity of it forced the creators to make them smarter with technologies like AI and NLP.

Smart chatbots offer a seamless and interactive experience of communication like a human being. Technology experts had detailed researchers over the years, and they used natural language processing and deep learning that empowered the chatbots with intelligence and accuracy. With NLP and right chatbot development implementations, chatbots can analyze and understand the language inputs from the users and generate responses like a human being against those inputs.

From the trend, we can see that the total revenue of natural language processing has a sharp increase and it will continue to be so till 2015 and beyond. Therefore, businesses will use NLP for chatbots more and more in the nearest future.

What is NLP anyway?

Natural language processing is a technology based on deep learning and artificial intelligence, and it is used to manipulate and interpret human languages.

The technique of processing natural languages or better say, human languages is not new. Programmers used this technique 70 years ago to communicate well with the first batch of computers. Today an increased interest and necessity of advanced human-computer interaction and the availability of technologies like IoT, big data and the powerful advanced computing, made the use of AI and NLP in the businesses even more evident.

We can take the use case of the royal bank of Scotland who has used the NLP in their chatbots to improve their customer experiences and business communications. They used AI techniques like text analysis to analyze and interpret the trends from the feedback provided by the users.

Through AI, ML, and NLP, it becomes easier for businesses to serve their customers without much human intervention.

How can AI, NLP, and ML improve the business chatbots and help your business?

Over the years, many different types of chatbots have been created for different purposes – like FAQ chatbots, chatbots for customer service, virtual assistant chatbots and more. Each type of chatbot needs a different level of intelligence to process human languages. The customer service chatbots need NLP and AI the most as it has to face human beings most of the time. Chatbots without NLP and artificial intelligence have static pre-loaded phrases, and these chatbots are less intelligent yo handle human emotions, intentions, and human sentiments.

Let’s check out how the business chatbots should have the AI, and NLP enabled in them –

  1. AI overcomes the challenges of human language variations

    It is an undeniable reason. The chatbots which do not have AI and NLP, work with pre-fed phrases to interpret human language. The problem with this approach is human beings use many different ways and emotions to express one statement. Static chatbots cannot interpret an infinite number of variations of expressing emotions with the finite set of preloaded phrases.

  2. Through AI and NLP, chatbots can make connections between the human language incoming speech and a system-generated response against that. The response can be anything that the chatbots generate, starting from a simple text answer to a query to fetch any information from the system database in response to the customer query. AI-enabled chatbots are smart to understand the human language semantics, text structures, and phrases.

  3. The focus is shifted more to real business operations
    Any organization requires many departments and related human resources to run operations like HR, customer service, invoice processing, and catalog management properly. It is the case when organizations are not using AI-enabled chatbots. NLP, AI, and ML-enabled chatbots have reduced the need for so many roles in an organization dramatically.

    With NLP enabled bots, the employees can process invoices faster with instant information exactly when they need it. The skillset of the employees can be used in the tasks involved in real business instead of focusing on monotonous activities. Not only at the customer service desk, but NLP-enabled chatbots can also be used internally for fetching queries or FAQs from the system, communicate with each other. This increases employee efficiency organization wide.

  4. Profitability increment and cost reduction

    Costing is essential for a business to grow and increase profitability. AI-enabled chatbots to reduce the need for too much human intervention to perform a specific task like customer service. This reduces the cost of resources that were previously engaged in repetitive and monotonous tasks.

    NLP and AI-enabled bots can handle complex queries from the customers to a reasonable extent which even includes the sales pipeline touchpoint to general customer queries. The reduction in cost leads to higher profit and augmented efficiency.

  5. Efficiency leads to higher satisfaction

    In this age of digital explosion, customers want instant responses to their queries. This trend made the adoption of AI-enabled chatbots even faster. AI-enabled bots to analyze and understand human queries and respond to them faster than a human being. Faster response and self-help ability lead to higher customer satisfaction at multiple touchpoints.

  6. Easy to make effective business decisions using market analysis and research

    AI, ML, and NLP help the chatbots explore social listening and analyzing the market for you even better. Through AI, chatbots gather and interpret more unstructured content and information and draw meaning from the data. Businesses can use the chatbot analytics to understand the customer satisfaction level or trends from the reviews feedbacks and queries.

  7. AI-enabled chatbots to help enhance your business processes and workflows reducing the human efforts doing repetitive and unproductive tasks. It empowers enterprises with technological advantages through saving time, costs and efforts. It further helps the businesses stay competitive in the market and through omnichannel customer experience and increased engagements.

    Interested in our Chatbots development services? Talk to Techechelons now!