Conversational AI for Customer Support
Businesses and consumers are ever more reliant on digital platforms and services, and their expectations of them grow each year. Businesses are looking to conversational AI powered solutions to stay competitive, offer better client experiences, lower cost to serve, and increasing personalization. There is already proliferation of conversational AI platforms, as the market is growing and the costs and barriers to entry continue to decrease (example reference Forbes AI 2023). While there may be a plethora of conversational AI services, most enterprises and organizations have legacy IT systems e.g., IT service management systems, CRMs, Contact Centres etc., and these systems were never designed for conversational AI and for new communication channels outside of voice, SMS, and email. The leaders in these spaces are aware of the conversational AI opportunity, but the introduction costs can be cost prohibitive with licenses and implementation costs for most businesses outside the Fortune 500.
The global conversational AI market size, including chatbots and intelligent virtual assistants, is expected to grow to at a CAGR of 30.2% to $22.6 billion by 2024.’
Source Deloitte
Market Opportunity for Conversational AI Support
Conversational AI is a critical enabling technology for conversational commerce and enables customers or clients to interact with a business through messaging or voice assistants, just like interacting with a human assistant. Conversational AI is upending the traditional Voice IVRs, contact centres, IT service management and sales automation. The best example of conversational AI is ChatGPT which is a very large language model and can evaluate enormous data sets and offer timely insights. It can respond human-like text or images and videos generated by the AI. Most of these services today operate with a web-based chat, and very few are OMNI channel (voice, SMS, email, rich messaging, web chat.).
‘44% of companies who weren't planning to implement Conversational AI said that the main reason was due to a lack of skilled developers, not for a lack of interest.’
Source Accenture Digital Chatbot Report.
The ‘AI’ Problem for Enterprises Today
Most business leaders would like to introduce conversational AI given the purported benefits, but introducing this technology can be daunting with existing enterprise systems, licensing costs and the development efforts. As an example, sales automation tools (e.g., Salesforce) and IT service management systems (e.g., Service Now) each have modules for the introduction of OMNI channel messaging and conversational AI. Most enterprises cannot introduce these capabilities as the enterprise would need to buy new licenses, free up (or hire) developers to implement services and integrations to their enterprise systems.
This is because most services provide an API and expect the enterprise to implement the solution. For larger enterprises with big budgets, they can justify the expenses. But for most businesses, they do not have the teams or budgets in place making conversational AI introduction exceedingly difficult. Even for businesses with the budget, these businesses often operate a waterfall approach to new projects with many stakeholders which consume a lot of time. Providing a business outcome approach can allow mid to large enterprises with an agile way to see the benefits of OMNI channel conversational AI, and then expand to more use cases.
How can Payemoji help with Conversational AI?
OMNI channel messaging and WhatsApp business platform has transformed the way businesses engage with their customers and are streamlining various aspects of their operations.
‘In 2022, 1 billion users engaged on WhatsApp Business and Facebook Messenger in 2022, an increase of 50% year over year growth.’
Source Meta Conversations May 2022.
Engaging customers on their preferred channel for personalized customer support to reminders, order placements, and educational resources, our Payemoji platform empowers businesses to deliver personal, interactive, and safe communication. In summary, we provide any customer journey in OMNI Channel messaging such as WhatsApp business, Facebook messenger, Instagram, Google business messages etc. With our developer APIs we can integrate into Enterprise IT systems and into Enterprise AI services, so customers can be handed off to an AI agent where needed.
Sounds Interesting – Get in touch now.
We would love to chat with you about how your business could benefit from Conversational AI and OMNI channel messaging and WhatsApp business platform. Get in touch with us at sales@payemoji.com and we will schedule a call.
So go ahead and join the conversation by taking advantage of the 23 hours that consumers spend per week on their Messaging Apps and use that to grow your Business.
