As AI floods the market, which chatbots deliver the best ROI for enterprises?

A recent report shows that AI and chatbots can bring a huge ROI (return on investment) for the enterprise. But which solution should you choose?
Written by Eileen Brown, Contributor

The current discussion on chatbots is at a crescendo. Industries from retail to healthcare all plan to include chatbots in 2017. But does adding AI to your service delivery workflow deliver a positive ROI?

Inbenta, a Foster City, Calif.-based natural language chatbot and search platform company, released a report showing proof that leveraging AI and NLP (Natural Language Processing) solutions such as chatbots in enterprise organizations add significant value to the organisation.

It commissioned Forrester to interview Inbenta customers that had implemented Enterprise Search, the InbentaBot, and Support Ticketing solutions. It then performed subsequent financial analysis on their organizations.

The study showed that a composite organization based on all the customers interviewed would experience benefits of $7.1 million over three years compared to costs of $1.4 million. It calculated a net present value (NPV) of $5.6 million with a ROI of 390 percent.

It showed that by implementing its solution, 60 percent of customer service support issues could now be solved by self-service chatbots.

Unfortunately, the current chatbot technology is lacking. It not only lacks personalization, but also the intelligence to be a useful tool for brands.

Some brands use partners to make it easier to launch and enhance Messenger-based chatbots.

Other companies are trying to improve their customer experience by using chatbots to answer simple repetitive questions. Intelligent chatbots can speed up enterprise workflow.

Data gathered from the chatbots -- such as customer preferences and habits -- can help deliver product recommendations from the chatbot.

Messenger chatbots are already replacing human insurance agents. This leaves human agents more time to focus on more complex issues instead of spending time on addressing simple questions and concerns.

AI chatbots appear to be taking over, but will robots ever really become part of our daily lives? They already are ubiquitous across many industries. In fact two out of three consumers do not realize they're using artificial intelligence. Chatbots are already delivering improved ROI -- but by how much?

Unfortunately chatbots often use a one-for-all approach when asked a question. They do not utilize information about the user's context (demographics, order history, on-site search history, etc) to make the customer interaction better.

Machine learning has to be used to improve chatbot answers over time. Although our use of chatbots is rising, we still say that we prefer talking to humans .

ZineOne's chatbots use a contextual layer between user and chatbot to personalize its chatbot interactions with customers. It can encourage customers to buy -- in real-time.

Chatbots can be personalised to answer each question specific to the individual asking the question. They can see the user's onsite activity, profile information, and if there are any reward points.

There has been significant enhancements in AI and NLP. Solutions are being delivered by enterprises who build intelligent chatbots with sentiment analysis and learn a language using virtual reality bots , as well as bots that help to solve day-to-day problems in Africa .

We already use voice control as we move toward the office of the future. But if you want to build your own voice-activated system, you can try the development kit from voice technology solutions provider Conexant.

It recently announced that it is collaborating with Chinese language internet search provider Baidu to release development kits and reference designs so that device makers can develop far-field voice-enabled AI devices running on Baidu's DuerOS platform.

DuerOS is a conversation-based AI system that supports access to a voice-activated digital assistant for mobile phones, TVs, speakers, and other devices.

Chatbots are forging ahead and are a key part of our daily lives. Although bots get the buzz in terms of finance, apps still get the lion's share of funding. It is up to you which solution you pay for whether bespoke, off the shelf, or self-built.


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