29 April 2020

How the business uses chatbot technology

About 10 years ago, we had to repeat our question to the voice assistant several times. Nowadays speech technology does its job no worse than people. And they do it very convincingly! In 97% of cases, those who are called by “intelligent” virtual operators do not understand that they are communicating with the bot.

Where are speech technologies used?
Voice systems already "speak" on behalf of various fields: healthcare, education, housing and communal services, energy, the banking sector, and many others. The areas of application of speech technologies can be listed for a long time. They are already changing our lives, and imagine how they will develop in 10 years!

Why do companies implement voice technology?
By 2030, artificial intelligence (AI) should increase global GDP by 14%. Nowadays 60% of business representatives consider the use of chatbots in business processes related to customer service. Especially actively it is used in call centers. Voice technologies are designed to control and improve the quality of service, streamline processes, and monitor compliance with corporate standards and increase sales. According to our data, speech technologies can increase sales from 16 to 25%, regardless of product or service.
Not only call centers of large companies are interested in developing speech recognition tools. For example, a global voice authentication request is being generated in financial institutions, healthcare institutions, and the public sector. For the largest UK banks, HSBC and Barclays, this helped reduce customer recognition time from 1.5 minutes to 10 seconds.
Smart voice bots are also gaining popularity. When automating incoming and outgoing calls, an “intelligent” bot almost completely replaces a person: adapts to emotions, context, and can conduct complex dialogs. The voice chatbot uses speech synthesis or pre-recorded text and speech responses. Sometimes he juggles them so skillfully that the average person is very difficult to recognize the robot.

Advantages of audio-bots technology
First of all, the call cost of such a bot is 2-3 times lower than in the case of a live operator. According to our and international experience of colleagues, bots can replace up to 30% of the daily routine operations of call center employees. The next thing is, that such systems operate hundreds of times faster than humans, but this speed depends on computing power. At the same time, speech technologies cost companies cheaper than human labor: 1 bot can replace 100 operators. Worth mentioning is the speed of deployment. If, in anticipation of an unplanned action, you need to call several thousand people in a week, and you have only a few employees. You will not be able to quickly hire and train such a number of people - a bot can take up the matter. Voice assistants makeup to 1 million calls per day and do not spend time for lunch or coffee, they are always on alert.

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