Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Redefining Customer Interactions With Voice AI In The New Reality

Human language is a complex area, since the style of communication differs from one person to another, filled with nuances, pre-set beliefs, cultural and societal differences, leaving room for ambiguity and misinterpretations.

Photo Credit :

1588319167_Cp7vRv_Artificial_Intelligence.png

Enterprises both large and medium are in pursuit of new ways to integrate AI into their business operations. Among AI’s many use cases, the most revolutionary aspect is that it has the ability to minimize human dependency through autonomous systems. These have been designed to accomplish goals with the help of its machine learning capabilities, requiring minimal manual intervention.

During the evolution of AI, its potential and possibilities were mapped to establish its understanding of the depth of human speech. Human language is a complex area, since the style of communication differs from one person to another, filled with nuances, pre-set beliefs, cultural and societal differences, leaving room for ambiguity and misinterpretations.

Today, artificial intelligence has been deployed to simplify tasks and make daily life convenient from multiple facets. It is penetrating all types of sectors in different ways, and one of them is voice. After witnessing the worldwide success of virtual assistants, conversational AI has emerged to become one of the top priorities for business excellence. Voice-enabled bots have redefined the way customers interact on platforms, offering human-like dialogue backed with intelligent responses to streamline man-machine conversations.

Plugging in Voice AI

Artificial Intelligence – Now a way of life

Technological disruptions come with changing consumer behavior, preference and user demands. As more and more individuals seek higher levels of comfort and convenience, organisations upgrade and reinvent to stay in the game.

From targeted ads to GPS, artificial intelligence has now become part of everyday lives. This mass adoption of AI is also driving focus towards voice automation in transforming customer conversations. Many experts have predicted, nearly every application will integrate voice in some capacity within the next few years. Voice AI technology is equipped with the capabilities of providing comfort and quick resolutions combined with optimized speed, efficiency and the humane element, in-sync with the ever-evolving needs of a digital world.

Prioritizing automation

Recently, there has been a surge in the adoption rate of voice AI, across diverse sectors, including banking, finance & insurance, DTH, among others. Since the pandemic manifested, operations have been taken remote, accelerating the demand for AI-enabled solutions to help automate processes. Businesses are rushing to remodel and gear up to cater to the evolving requirements of a new world. What could have taken years to replace legacy set-ups, is now penetrating the market in a rush, making itself an indispensable unit of core operational efficiency.

The evolution of natural language understanding

Individualized experiences

As the world pivots to a new reality, generic engagement models and rigid systems become obsolete. Evolving market movements and demands have propelled businesses to switch to models based on delivering individual experiences. The hyper-personalization pattern creates a profile, inferring not only contextual data, including the individual’s gender, age, location but also taking into consideration other real time factors, such as language preferences, speech nuances, intel on user history and behavioral indicators.

Hyperpersonalization recognizes the concept of diversity, customizing unique experiences for each customer. Deployed across marketing, healthcare, finance industries, this particular pattern also curates recommendations and displays content basis consumer interests.

Comprehensive interactions - Sentiment, Mood, Intent

Conversational AI’s knowledge and area of expertise extends beyond mere surface evaluation. These intelligent voice interfaces have been designed to read between the lines and decipher the user’s actual intent and context through speech. Voicebots have been upgraded to solve more complex queries now, from analyzing customer sentiment to concluding the individual’s intent. Now machines can communicate in a comprehensive fashion as humans do, localizing accents, languages and narrative, basis customer preference and ease.

Helping businesses scale growth and multiply profits

Given the current market scenario, it has become imperative for enterprises to take a chunk of their operations remote. Voice AI has now been leveraged to help enterprises automate up to 80% of their contact centre operations - saving the business capital and time, while ensuring customer concerns are taken care of. Automation helps reduce agents’ average call handling time by 30 per cent, allowing time to handle more value-oriented tasks. Additionally, individualized interactions translate into enhanced customer loyalty, helping organizations cover up losses on integration, while scaling growth and driving profits organically.

Needless to say, with the next wave of transformation, all sectors will be seen deploying voice in some form or the other. Advancements in the space will bring AI to the point where it becomes impossible to differentiate between a human agent and a voice bot, making this technology even more appealing, and a prerequisite to creating the future of experiences for consumers.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Sourabh Gupta

CEO and Co-founder, Vernacular.ai

More From The Author >>