Connect with us

Artificial Intelligence (AI)

Chatbots: The Rise of Conversational Chatbots, They Don’t Just Say Hi; They Are Engaging

The Rise of Conversational Chatbots. National Geographic made this possible by introducing a conversational chatbots that speaks like Einstein to promote their program, Genius.

mm

Published

on

The Rise of Conversational Chatbots

Many of us, especially those interested in sciences, have dreamed about a real-life conversation with Einstein. National Geographic made this possible by introducing a conversational chatbots that speaks like Einstein to promote their program, Genius. The Facebook Messenger chatbots proved to be an instant hit – and resulted in many interesting conversations, ranging from the ridiculous to the intelligent, and interspersed with smart usage of GIFs.

Chatbots Conversational

Image Source

1. Chatbots are Engaging

With the upgrade in natural language processing (NLP), conversational chatbots can process words and phrases intelligently to give natural, human-like, responses – leading to the increased popularity of conversational bots in customer service.

According to research by Accenture, “CIOs and CTOs around the world believe conversational bots will play a critical role in the enterprise architecture of the future—and have the potential to make a huge impact on a company’s operations.”

In the survey, on which the preceding statement is based, 56% of global CIOs and CTOs agreed that conversational bots are driving disruption in their respective industries. About the same percentage also agreed that conversational bots deliver a significant return on investment for minimal effort.

Not surprisingly, 80% of businesses are expected to use chatbots in one way or the other in 2020. The reason for this mass adoption is two-fold – that is, cost savings and better customer service.

Conversational Chatbots

In another study, it has been found that up to 29% of customer service positions can be automated with chatbots, leading to savings of over $23 billion for U.S. businesses. Using chatbots for customer support can help companies save almost 30% of their costs – while ensuring better customer experience through minimal wait time and 24/7 support.

That’s great for businesses. But what about users? How do they feel about conversing with chatbots?

By comparing several statistics from around the world, we can positively assert that a large population views chatbots positively. According to Business Insider, globally, only 11% of consumers have a negative perception of chatbots.

2. The Science Behind Chatbots and Customer Engagement

Deloitte reports that chatbots deliver a more luxurious customer experience, as they are scalable and data-driven. Key benefits of chatbots, as viewed by Deloitte, are reproduced in the image below:

Key benefits of chatbots

Image Source: Deloitte Digital – Adopting the Power of Conversational UX

As you can see, user engagement is a significant benefit of introducing chatbots in your customer support. Also, conversational chatbots, based on artificial intelligence and natural language processing capabilities, can be used to optimize various processes in almost every field. Besides customer service, conversation bots can be used for automated marketing, data mining, lead qualification, and more.

In case you are wondering how this is possible – the answer is AI.

Artificially intelligent chatbots based on NLP understand the questions posed to them contextually and provide meaningful solutions in most cases. AI-based chatbots also learn from every interaction and expand their knowledge with usage. So much so that advanced natural language processing capabilities can identify spelling or grammatical errors, enabling chatbots to interpret the intended message correctly, despite any mistakes in the text.

Thanks to the contextual understanding of queries, chatbots can lead users to logical answers, in the form of FAQs or connecting them to human agents, depending on the nature of the question, which is beneficial for both ends of the spectrum. No wonder, chatbots are increasingly being employed for a variety of functions, such as those listed below:

  • Chatbots can be used to provide 24/7 live chat support on your essential touchpoints while also boosting customer experience by sharing customized offers and discounts with visitors based on their browsing history.
  • Chatbots are great for personalization. Nobody wants to be treated like a stat; and, by integrating your chatbot with social media, you can enable highly personalized conversations with users based on their interests.
  • Chatbots lead to higher engagement by sharing targeted content with your visitors based on the content they have previously interacted with. For example, if a visitor views a video on digital marketing on your website, your chatbot can send an automated message at the end of the video, directing them to similar content that will establish your position as a leader in the field.
  • Chatbots can collect invaluable data for your business from customers who are hesitant to fill out surveys. For example, if a visitor is leaving your site without taking any action, your chatbot can send an automated message to learn more about their experience – which can give you crucial insights into how visitors interact with your website.
  • As mentioned in the previous point, chatbots can be used for collecting feedback as well as for analyzing feedback according to predetermined tags to understand the general opinion about your brand.
  • You can also use chatbots for deliveries. For example, Dominos chatbot can be used for placing an order, as well as tracking the delivery of your pizza.

3. How Chatbots Are Revolutionizing Various Industry Sectors

Chatbots have not only turned around customer support on its head but also found applications in other processes. Almost every industry sector has benefitted from chatbot adoption, including finance, tourism, healthcare, etc. Chatbots are being increasingly used in both B2B and B2C domains for customer support, personalized marketing, data mining, and more.

Besides automating customer support, intelligent bots are also being used in industries such as finance (COIN by JP Morgan Chase for analyzing complex contracts and Bank of America’s Erica for general queries), healthcare (Florence, that reminds patients to take their pills), law (Ailira, which generates legal documents in a jiffy), and more.

4. Chatbots, Customer Satisfaction, and Sales

According to Statista, 34% of customers preferred to communicate with an AI-bot in online retail in 2017. The reason – fast and reliable service. In 2019, the number of customers that used chatbots rose to 67%. Another interesting fact is that 40% of users don’t care whether a human or bot helps them – as long as they are getting the help they need.

This indicates not only the acceptance of bots in commerce but also the blurring line between human and bot support – owing to the conversational nature of AI-bots that can be trained for engaging conversations and even make use of smileys and GIFs, like Einstein (As mentioned previously in the article).

Conversational bots have moved beyond their usage as tools for greeting customers – and that’s a fact!

Today, bots can handle a significant chunk of customer queries and automate various time and labor-intensive tasks. According to data, chatbots can handle up to 80% of customer inquiries with high accuracy, without the need for human involvement.

This not only frees up your client-facing teams from handling repetitive queries but also leads to higher customer satisfaction due to zero wait time and consistent service.

As chatbots are machines, they don’t get tired or frustrated when customers ask odd or repetitive questions, ensuring polite and pleasant interactions at all times. Once plugged in with your CRM, you can also use your chatbot to create a pool of continually updating customer data on the one hand and highly personalized conversations on the other.

A win-win situation for everyone – isn’t it?

We are an Instructor, Modern Full Stack Web Application Developers, Freelancers, Tech Bloggers, and Technical SEO Experts. We deliver a rich set of software applications for your business needs.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Artificial Intelligence (AI)

WORM-Compliant Storage: Exploring Write Once Read Many (WORM) Functionality

This is sometimes referred to as write once, read many, or WORM, compatible storage. With a name like that, it’s hardly surprising that many need help understanding it.

mm

Published

on

How does WORM storage work

Organizations generate an immense quantity of data, yet sometimes they need or want to preserve it in an unalterable format.

For legal reasons, a non-profit organization may desire to keep its financial information in this format regularly. An institution may desire to save graduation records in this manner in case the actual records are lost in an accident. Businesses may desire unalterable records to avoid tampering, which might cover up fraud.

This is sometimes referred to as write once, read many, or WORM, compatible storage. With a name like that, it’s hardly surprising that many need help understanding it.

We’re here to help you get a grasp on things. Let’s go!

1. What Exactly Is Write Once, Read Many?

The simplest explanation is that it is immutable storage. You may write data to the storage device or medium just once. Following that, no one may legally alter the data in any manner.

CD-R discs are a basic kind of WORM storage. You may add data to the blank disk, but it will remain in that state indefinitely. You may damage or destroy the disk to prevent someone from accessing it, but you cannot modify the data contained in it.

WORM storage allows for repeated reads of the data. Assuming the disk or drive isn’t destroyed, there’s no practical limit to how often you can access the data.

2. How does WORM storage work?

There are two options for implementing WORM storage in your business. The first technique is hardware, which uses tape or a similar form of media that permanently stores data, making physical destruction of the WORM storage device the sole way to delete it.

Nonetheless, with many solutions migrating to cloud and SaaS services, selecting particular hardware might be challenging. However, many of these service providers now provide software-defined WORM solutions, which combine the flexibility of software with the strictness, security, and indelibility of hardware-based WORM.

Whether you utilize software or hardware to achieve your compliance objectives, the idea is the same. When someone writes data to a WORM disk, it remains there eternally. The assumption that you cannot alter the data on a WORM drive only refers to anything that has already been saved there; the ability to add new data is always available as long as there is adequate storage space on the drive.

Do you need WORM-compliant storage

3. Do you need WORM-compliant storage?

Unless your company works in the securities or healthcare industries, which are subject to SEC or HIPAA laws, there is likely no legal need to adopt write-once, read-many (WORM) compliant storage solutions. However, legal requirements are only one motivator for using WORM storage systems.

WORM compliant storage provides a key role in addition to regulatory compliance. For example, if you want to keep a safe archive of historically important documents, WORM storage is a wise solution. This guarantees that once data is written, it cannot be changed or erased, protecting the integrity and validity of critical documents over time.

Furthermore, in situations where internal workers may tamper with corporate documents, WORM storage adds an extra degree of protection. Creating immutable copies of papers makes it easy to check the correctness and validity of records, reducing worries about possible manipulation.

Likewise, WORM storage may serve as a protection for proof of trade secrets or intellectual property, providing a snapshot of data at a given point in time and preserving valuable assets from illegal changes or access. In conclusion, although WORM-compliant storage is not legally required for all enterprises, it provides essential advantages for data integrity, security, and crucial information preservation.

4. What are the primary advantages of WORM storage?

WORM technology protects businesses against many of the usual difficulties associated with data corruption and loss. The primary advantages of deploying WORM storage include:

Compliance With Industry Regulations

Using WORM storage helps firms comply with recordkeeping rules and laws. More than simply archiving data is required. Businesses must store their data in the right, unalterable format to comply with regulatory requirements and avoid significant fines and penalties.

Risk Mitigation for Poorly Archived Data

Companies must have a robust procedure for archiving all data. If information is needed as part of an audit or lawsuit and the required data is lost or damaged, difficulties (and penalties) will arise.

Better Information Security

WORM Storage secures precious and sensitive data and, more critically, prevents it from being doctored or changed. It guards against occurrences such as data being accidentally or purposefully manipulated.

Better Data Governance

WORM storage contributes to the present business-wide practice of rigorous and well-planned data governance. It also enables you to better adhere to the Electronic Discovery Reference paradigm (EDRM), a paradigm that describes the steps of the eDiscovery process throughout an inquiry.

5. Use Cases of WORM Storage

Professional content distribution includes financial records, police investigations, court testimony, computerized voting, and other applications in which data files must be safeguarded against manipulation or deletion, particularly when material is accessed, relocated, or transferred. Organizations transfer all data given over to the data investigation business onto WORM disks, ensuring that nothing changes beyond that point.

Transferring a read-only file across a network using encryption and passwords does not ensure that the file is original or untouched. Furthermore, it is usually preferable to enforce something in hardware rather than software since when the program is not operating, the data may be tampered with.

  • Corporate records
  • Financial and Insurance
  • Intelligence collection
  • Law enforcement
  • Electronic Voting
  • Court Proceedings
  • Medical Records and Devices
  • Public Records
  • Artificial Intelligence
  • Cyber-attack protection
  • IT security and log files

Conclusion

Write once read many compliant storage enables enterprises to safeguard information in a method that no one can tamper with. This may occur with something as basic as a CD-R or with software-based cloud storage.

The size of the data typically influences the medium used. You can keep a few papers on physical media without issue. Petabytes of data need a strong in-house storage ecosystem or a cloud storage provider.

If you decide to use a cloud storage provider, be sure to inquire about the retention term choices and redundancies.

Continue Reading
Advertisement
Advertisement
Artificial Intelligence (AI)3 days ago

WORM-Compliant Storage: Exploring Write Once Read Many (WORM) Functionality

Gadgets6 days ago

Trail Cam Tactics: Using Technology to Scout Hunting Spots

Internet2 weeks ago

Mastering the Art of Task Automation in the Modern Office

Health & Fitness2 weeks ago

5 Innovative Ways Point-of-Care Diagnostic Devices Revolutionize Healthcare Efficiency

Technology3 weeks ago

Leveraging Technology In Portable Office Setups For Enhanced Productivity

Instagram1 month ago

How to Buy Instagram Followers (Guide)

Business2 months ago

Transforming Goals into Actionable Results

Technology2 months ago

The Benefits of Using Professional Presentation Design Services

Software2 months ago

Common Pitfalls to Avoid During the Proof of Concept (POC) Development Process

Internet2 months ago

Keep It Simple: What to Include and What to Leave Out on Your Personal Site

Advertisement
Advertisement

Trending