Conversational AI Examples: Exploring Cutting-edge Applications
Chatting with our devices has never been easier—we have conversations with them just like we would with fellow humans instead of getting plain search results. That’s how conversational AI works and changes our interaction with computers. Have you ever thought about how virtual assistants always seem to know what you need or how customer service chatbots can instantly troubleshoot any problem all the time? These are some conversational AI examples that show its transformative power.
They use Natural Language Processing (NLP), Machine Learning (ML), and Speech Recognition technologies to understand human language. Over time, they become more proficient in talking, making it smoother and more spontaneous.
Think back to the last time you used a chatbot for help or a voice assistant for reminders, music, or controlling your smart home. These tools aren’t merely convenient; they are reshaping our day-to-day experiences.
In this blog post, we will discuss various types of conversational AI, their benefits and challenges, analyze real-life examples of conversational AI, and discuss future trends. Let’s see how Conversational AI is changing everything around us.
What is Conversational AI?
Conversational artificial intelligence refers to computer programs that converse with humans like real people.
A comparison of traditional chatbots vs conversational AI shows that conversational AI chatbots are capable of answering a wide range of questions, resolving problems, and even initiating small conversations. Interactions with conversational AI are intended to take place through audio, video, and text channels instead of just one.
A static chatbot that can only conduct textual conversations on a company’s website. “Conversational AI” refers to the use of artificial intelligence by chatbots and voice assistants. The technology is still relatively new, but it is rapidly improving and expanding.
Types of conversational AI
There are three types of conversational AI technology. These are:
- Chatbots
- Using artificial intelligence, chatbots simulate human-like communications with customers. You can integrate them into social media, messaging applications, websites, and branded mobile apps, among others. There are numerous conversational AI chatbot examples for straightforward tasks, such as delivering information or assisting users with administrative actions without navigating to another channel. Brands looking to improve customer service, engagement, and retention have found them to be excellent solutions.
- According to Gartner, the number of conversations handled by conversational agents has increased by 250% since the pandemic.
- Voice Bots
Voice bots are one of the primer conversational AI examples. AI voicebots can understand voice commands and complete tasks according to instructions. These features are usually found in operating systems, smart speakers, and other internet-connected devices. With voice assistants, customers can interact in their preferred language without needing a keypad.
- Interactive Voice Assistant Systems
IVAs (interactive voice assistants) are artificial intelligence systems capable of interpreting spoken instructions and questions using voice recognition technology and natural language processing. Since they allow hands-free operation, it is more natural and intuitive to get information and complete tasks using an IVA.
Some real-life examples of interactive voice assistants are:
- Amazon Alexa
- Apple Siri
- Google Assistant
- Microsoft Cortana
Conversational AI Examples and Applications in Various Businesses
Businesses reliant on human interaction are changing how they do business with conversational AI platforms. Conversational AI is already being used in our daily lives, but let’s take a look at a few industries that are being transformed by it.
1. Conversational AI Examples in Retail
A shopping experience is enhanced by interactive solutions that provide instant, personalized assistance. The use of Al by retailers streamlines customer service, collects valuable feedback, and reduces costs. As a result, 42% of merchandisers have integrated the technology, while 34% are exploring its possibilities. Due to this, generative AI services have emerged. Following are some examples of conversational AI being used in retail.
- AI analyzes customer preferences to suggest relevant products.
- AI allows customers to virtually try on fashion and beauty items.
- AI provides personalized style and preference advice.
- AI streamlines the process of returning and exchanging products.
- AI provides real-time updates on order status.
- AI handles customer inquiries and issues after purchase.
- AI manages loyalty programs and rewards for customers.
- AI enables voice-activated shopping assistance.
2. Conversational AI Examples in Financial Services
Since the pandemic, financial institutions have been embracing and implementing disruptive technologies in an effort to maintain their competitive advantages and prepare better for future challenges. To address their top-of-mind concerns, they dug deeper into fintech and discovered the potential of AI technology. Here are some conversational AI examples in fintech.
- AI chatbots provide instant assistance for banking queries and transactions.
- AI monitors transactions and alerts customers to suspicious activity.
- AI assists in loan applications and provides status updates.
- AI offers personalized investment advice based on market trends.
- Chatbots handle routine tasks like updating personal information.
3. Conversational AI Examples in Healthcare
Telehealth has emerged as the most reliable way to increase accessibility and provide medical assistance to as many people as possible without violating quarantine restrictions since the pandemic. Healthcare front offices can be completely automated with conversational AI. There is no need for patients to contact the hospital staff about transfer requests, discharge, and consultation requirements. Using AI-enabled virtual assistants, everything is processed and communicated.
One such example of a virtual assistant in healthcare is Ved AI. It’s a Smart AI Chatbot Healthcare Assistant that empowers patients’ health by answering all their healthcare-related questions. As an instance, here are some of the examples of conversational AI being utilized in healthcare.
- AI helps patients book appointments and manage cancellations.
- AI chatbots provide preliminary advice based on patient inputs.
- AI delivers information about medications and treatment plans.
- AI handles billing inquiries and patient record management.
- AI offers resources for mental health assistance.
4. Conversational AI Examples in Customer Service
A major benefit of conversational AI is that it gives your customers more ways to solve problems on their own and ultimately improves customer satisfaction. Measuring it in terms of metrics, these AI self-service tools like QuikBiz AI help businesses reduce customer wait times and resolve issues more quickly. More conversational AI examples in customer service include:
- AI chatbots provide round-the-clock assistance.
- AI handles complaints and escalates issues to human agents.
- AI offers real-time updates on order status.
- AI suggests products based on customer preferences.
- AI gathers customer feedback for service improvement.
5. Conversational AI Examples in Education
The digital student experience was neglected by many institutions for a long time prior to the pandemic. Across all levels of education, schools and universities are now trying to establish digital presences that can manage all aspects of a student’s journey.
Today, conversational AI changes the way students learn, simplifies administrative tasks, and provides personal assistance to students. Using online tools like DataBrain AI, students are able to transcribe, chat, and summarize lectures in an easy-to-understand format.
- AI customizes learning experiences based on individual student needs and progress.
- AI provides instant feedback on assignments and quizzes, helping students improve.
- AI chatbots answer questions about coursework, campus facilities, and student life.
- AI suggests courses based on student interests and academic goals.
- AI-powered language tutors offer interactive and immersive language learning experiences.
- AI helps students and researchers find relevant information and resources.
- AI offers personalized career advice and helps students explore job opportunities.
Benefits & Challenges of Conversational AI
The benefits of conversational AI are numerous, but they are also accompanied by challenges. Listed below are benefits and solutions to challenges you can apply.
Benefits of Conversational AI
Here are a few of the benefits conversational AI offers:
- Enhanced capabilities
Artificial intelligence can automate a wide range of customer service interactions, allowing it to adapt to a wide variety of situations more sophisticatedly than rule-based bots.
- An excellent user experience
Through the use of human-like conversations, the technology allows customers to express themselves in a complex, flexible, and natural way, improving customer satisfaction and the customer experience.
- 24/7 availability
It provides round-the-clock customer support, meeting modern customer expectations.
- Cost-efficiency
With its high ROI and ability to handle large volumes of interactions, it reduces operational costs.
Conversational AI Challenges and Solutions
Conversational AI examples are not without challenges. Businesses can ensure a seamless and successful implementation of conversational AI in their customer service strategies by identifying and addressing these challenges. You can also engage AI & ML development services to take a professional approach to resolving your business problems.
- The absence of emotional intelligence
A few ways to mitigate this challenge include creating chatbot personalities, using sentiment analysis, and ensuring seamless handoffs between chatbots and humans.
- Data & privacy issues
Adopting robust security measures, being transparent with customers, and carefully selecting AI providers can address the problem.
- AI delusions
By optimizing training data, implementing fallback mechanisms, and monitoring AI performance, it can be minimized.
- Viewpoints of customers
A simple solution is to educate customers on how AI can benefit them, make it easy for them to transfer their concerns to agents, and respond to their feedback.
Future of Conversational AI
In recent years, conversational AI has evolved to power chatbots, virtual assistants, and voice-activated devices. Our digital interactions are no longer a novelty but a fundamental part of our daily lives. The future of conversational AI will undoubtedly hold exciting trends and predictions that will shape our interaction with technology.
Conversational AI Trends and Prediction:
- The market size for Conversational AI is expected to reach USD 86.42 billion by 2032, according to a study conducted by Precedence Research.
- A new generation of chatbots, voice-activated assistants, and virtual assistants will be powered by conversational AI, creating a new way of communicating with technology.
- In the future, you will be able to ask your virtual assistant questions using text, voice, images, and gestures.
- Various industries, such as healthcare, finance, and e-commerce, are finding conversational AI applications.
- With conversational AI, we will be able to interact with the digital world in a more convenient, connected, and conversational way.
Conclusion
Conversational AI has become a transformative force across multiple industries, as efficiency, customer engagement, and data-driven decisions become more important. We have explored the examples of conversational AI and how intelligent systems can simplify processes, and deliver valuable insights. With conversational AI platforms, you can generate leads across channels, nurture them with personalized interactions, and help with transaction activities 24 hours a day.
The conversational AI examples explored here demonstrate the vast potential of the technology. Interested in enhancing your customer experience with cutting-edge conversational AI? You can rely on OpenXcell’s years of AI expertise for seamless integration and optimization. Contact us today to hire AI engineer and discover how we can transform your business operations and drive revenue growth.