Artificial Intelligence & The Disruptive Chatbot

Chatbot Technology has always been a game changer whether it’s content, data or e-commerce - businesses underwent change to survive due to the changing consumer perception, business value and convenience.

- Vishal Sinha

Furthermore, the need of digital transformation forced all businesses to go digital and offer to the consumer a bag of increased customer engagement, value through personalization, seamless customer service, brand building for such technology-driven products which has helped business exchange details, authenticate and conduct transactions seamlessly making Information available to intelligent non-human support and a platform designed to understand, learn and converse like a human to answer adhoc queries in real time.

Chabot’s in Retail: Lending & financial services

The reason most of the banks or fintech and retail businesses are collaborating and investing in chatbot is moving into a forward looking approach to deliver ‘contextual insights’ to the right person at the right time and through a preferred channel.

The non-human chatbot will help transitioning into ‘conversational business with a virtual chatbot assistant in a new age self-sufficient contact center with center agents, minimizing TAT, costs and improvising customer journey. The focus should be on augmentation of human decision making to predict faster than humans with enhanced interactions, else the greater benefit of personalization and differentiation will be lost with automation only.