Potentials of conversational AI for businesses
Tags: ai, nlp, machinelearning
Published: 2022-07-14 20:15:30

This article was originally published on the [Neurotech](https://blog.neurotech.africa/potentials-about-conversational-ai-for-businesses/) blog post.

Speaking about the evolution of technology you can't skip mentioning artificial intelligence simply because in our day-to-day activities we do interact with the technology mostly even without knowing that we do. If you own a smartphone, laptop, smartwatches, desktop, and so many devices yes you do interact with artificial intelligence or use it to accomplish some of your tasks such as google search, Camera, meeting platforms like zoom, Google spreadsheets, Microsoft Cortana, Apple Siri, Google Assistant, Google map, Apple map, Google lens, social media interaction, etc. The scope of artificial intelligence has expanded and evolved over time. So, it is time to think about how you can leverage this technology to improve the revenue of your business in this article I will highlight the potential of conversational artificial intelligence for businesses.

### **About conversational AI**

Conversational AI involves three concepts artificial intelligence, human language, and automation. We can define it as the type of artificial intelligence that enables consumers to interact with computer applications the way they would with other humans. Conversational AI has primarily taken the form of advanced chatbots that contrast with conventional chatbots and combines natural language processing with traditional software, voice assistants, or an interactive voice recognition system to help customers through either a spoken or typed conversation interface.

![conversational chatbot](https://cdn.appmaster.io/api/_files/ooRtJGmcZqEaSfTL468d8U/download/)

### **How does conversational AI work?**

Conversational AI involves three main key components which are:-

- Natural language processing
- Algorithm Training and Machine Learning
- Sentiment Analysis

Through the conversational interface, a user provides inputs either through voice or text. For text-based inputs requires [NLU](https://en.wikipedia.org/wiki/Natural-language_understanding) to understand the contexture meaning of the inputs and the case of speech-based inputs requires [ASR](https://usabilitygeek.com/automatic-speech-recognition-asr-software-an-introduction/)  to parse audio into language tokens that can be analyzed. After that best option is answered to a user response this depends on how trained and programmed to perform tasks.

### **Use cases of conversational AI:**

- **Customer service:** conversational AI has been extreme in this industry through the automation of customer support activities to improve access and reduce costs. Activities such as travel booking, FAQs, supporting customers to bill something, and handling complaints. Also, conversational AI is interesting to handle surveys with your customer to understand what they feel about what you provide or even if there is a new product.
- **Retail industry:** speaking of lead generation, lead qualification, and lead nurturing to 24/7 concierge service, faster order fulfillment, amplifying marketing messages, and more can be with conversational AI. In the retail field, things can go more advanced with the recommendation of products to customers, and multichannel integrations to follow your customer to the platform they love to use like WhatsApp, Facebook, Instagram, and Tiktok. But last is being able to serve your customer anytime they want service.
- **Finance and Banking industry:** Conversational AI has greatly helped banking and financial services reduce operating costs, automate functions, and improve the overall customer experience. In accessing and analyzing users’ spending patterns or bank accounts to help them decide how to spend their money, resolve customer queries by automating repetitive processes that typically take a human agent much longer, and through AI bot help in checking balances and detecting fraudulent transactions, etc.
- **Health industry:** In the case of handling schedules in hospital appointments conversational AI is being used for automating this process across the health industry which helps patients to manage their appointments and paperwork. The experience of Cognitive Behavioral Therapy, using conversational AI creates an immersive way to manage anxiety and other mental health issues.
- **Sales and Marketing industry:** most consumers do prefer self-service technology for shopping experiences instead of human sales agents. Conversational AI generates and nurtures leads, optimizes the sales cycle, and gets and updates data instantly while maintaining accuracy with conversational automation.

Use cases of conversational AI are more than the few I just mentioned, these are just some of them you can explore more use cases from [here](https://www.chatcompose.com/conversationalai.html).

### **What are the impacts of conversational AI on your business?**

- Customer retention
- Customer personalization
- Get customer feedback in a seamless manner

All of this help to boost an increase in revenue and reduce costs with more accurate and timely marketing efforts while ensuring a seamless and pleasant experience for your customers. It is not enough to have chatbots on your website as a solution for customer support. Businesses need to have intelligent chatbots with natural language processing and understanding for the best customer support experience.

### **How Neurotech’s conversational ai solutions are best for your businesses?**

Okay, [Neurotech](https://www.neurotech.africa/) we are an AI company that builds [solutions](https://www.neurotech.africa/#services) for businesses currently we do develop conversational AI for business needs which are controlled by our internal engine and go by the name [Sarufi](https://sarufi.io/#_). We offer custom solutions to fit various business needs.

**Why it is useful?**

Our conversational ai solutions are developed in such a way that can understand the contextual meaning of the interaction or conversation with targeted audiences, Our custom chatbots can be deployed on social media platforms like Whatsapp, Facebook, Instagram, and Telegram. This depends on what our customers need. Currently, our solutions can work in two languages only Swahili and English, it can help out your business with customer support, increase revenue and build opportunities with every customer interaction note that 😊.

### **Final Thoughts**

Now think of your business, it is time to get more close to your customers using conversational AI not too late, by automating workflows for FAQs, and repetitive tasks that staff has to go after with conversational artificial intelligence. The worth truth is conversational AI continues to evolve, making itself absolutely necessary to various industries such as finance, online marketing, healthcare, real estate, customer support, retail, and more. But don't worry we have [Sarufi](https://sarufi.io/#_) for your business needs, if you may be interested to have a discussion with [Neurotech](https://www.neurotech.africa/#contact) don't hesitate to reach out we do consult depending on what would be best for your business challenges.

![thank you](https://t3.ftcdn.net/jpg/04/48/13/40/240_F_448134055_3ygLHIrGKhm176wZnoRvDaY1iqljzVdZ.jpg)