Conversational AI and its Applications in Different Sectors

The way we exist and operate today can be completely transformed through automation and artificial intelligence (AI). The surge of technology is affecting everyone from CEOs and commercial banks to fashion brands and even miners. Experts believe that half of the jobs that we see today will be automated by 2055.

But how can automation and AI influence your business operations? Where do companies use these tools to automate human resource management, customer support, or employee enabling? 'Conversational AI' is the key.

What is Conversational AI?

Conversational AI is an interactive software solution designed to engage smartly with your consumers through voice, text, or graphical interventions. To execute bi-directional communication, it may use any channel such as virtual agents (chatbots or voice bots), applications, websites, social media and/or messaging media. The objective of communication can be to obtain knowledge, resolve a query, verification, conclude tasks, or perform transactions.

AI Applications In Different Sectors

Here are some of the most significant AI applications revolutionizing the major industries across the globe.

Healthcare

AI is currently being deployed to fulfill a number of healthcare requirements, including data gathering for pattern recognition, carrying out accurate medical condition detection and treatment, diagnostic imaging, drug management, and even robotic surgical procedures.

One such use-case involves the utilization of AI for Drug discovery that leverages the features of big data and artificial intelligence to identify the link between ailments and medications at the system's level, thus simplifying and automating the whole procedure eradicating the need for human involvement significantly besides cutting down on the response time.

Retail and E-commerce

Shopping and e-com platforms are probably the only domains where the role of artificial intelligence is the most discernible to the majority of consumers. It is the most decisive space where companies often search for robust strategies to identify trends in customer behaviour, thereby matching their maneuvering to outdo their competitors.

One of the most identifiable use-cases is the ‘product recommendations’ that a visitor is presented with after smartly capturing his/her interest on the basis of browsing history. The smart chatbot solutions designed by Surbo and backed by Conversational AI are frequently used by the majority of shopping portals offering instant and 24x7 resolution to the queries of clients online. Quick solutions and all-time availability help generate consumer confidence and trust in your brand.

Banking & Financial Sector

AI is impacting every industry at the moment— Banking and Finance are no exception. In fact, the use-cases in this sector are exceptionally high, finding implementation in several reputable corporations across the globe.

Smart chatbotshave managed to replace humans in several roles. For instance, the complex operation, such as loan applications, are now being handled fully through AI bots. Not only the human role has been side-lined, but the shift has brought the processing time to mere fractions of seconds leveraging productivity.

Similarly, Robo-financial consultants can filter through multiple data levels to suggest the right investment decisions for your clients after analyzing their social media activity, emails and other personal information to identify the sectors and companies best aligned to meet long-term needs and financial objectives— all this and more, within a split of seconds.

Besides the above, real-estate, entertainment, and food sector are some of the other industries leveraging features of conversational AI to their best advantage by generating hot leads, cutting costs, and increasing productivity.

Surbo— a sister concern of Value First and a reputable chatbot platform is a pioneer in the field of Business Automation offering Enterprise-level live agent Chat solutions implementing AI, and NLP enabled bots. We have the right expertise, tools, and techniques to revolutionize your digital engagements and make them future-ready. To know more, visit us now at https://surbo.io.

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