Above & Beyond — Pinch of AI (ChatBot Meal)

The Stock Broking Industry is growing fast with an annual growth of ~8% in India . Thanks to the pandemic (and of course WFH :P ) millions of millennials are trying to participate in the growing capital market. I too am part of this new revolution but at the other side of the table.

AngelOne, one of India’s oldest in the industry, is achieving newer heights and breaking all records everyday.

Today marks the 25th Anniversary of AngelOne (Previously Angel Broking) and it couldn’t be better to be part of such a dynamic team, launching the new experience for the new age millennials.

But what really it takes to achieve above & beyond — Pinch of AI , an essential ingredient not just a seasoning?

Last year, there was a sudden spike of call volume, queries along with increased customer base.It was a goliath task to maintain the standard which AngelOne is known for --- Rome is not built in a day so was scaling up the infrastructure. Here, AI comes in rescue (Main Ingredient)

Orchestrating (Pre-planning)

Till now I have used AI for modelling, clustering, offers, campaigns etc.This was the first time we were talking about in-house “AI Contextual Bot”

Started our journey — we failed for the first time ??

But Like We say —- “If You can dream it you can do it”?(Walt Disney)

Followed up with an Agile strategy — reassessed everything and re-aligned our approach.

Re-launched “AI Contextual Bot” successfully on WhatsApp Platform with top 10 intents in Jan 2021.

Today, “AI Contextual Bot” is able to customise experience for users that qualify for self-service.

Since launch it has helped in?

reducing the call ratio by providing the right direction to the client in less than ~5s of time.

~80% of the conversation can be fully resolved by the AI bot, without transferring to another channel.

Call abandonment rate is nearly negligible.

The Secret Recipe

It works on a simple rule where a client can start the conversation with an intent that matches a topic the AI Assistant can handle.?Explored, learnt and enabled the “AI Assistant” to handle slots, entities, rules and hundreds of intents.

This is built fully in-house using Rasa for NLU and dialogue management, allowing us to own and customise every aspect of the AI Assistant. Rasa is flexible and is a fully machine learning based approach.?

With every conversation; it learns and improves by providing greater accuracy over time.

The Plating (Fallback)?

AI bot is enabled with Live Agent Chat option to handle complex queries and in case AI Contextual bot fails to understand the intent or fails to resolve the queries.

It really helped us in improving the customer satisfaction; at the same time relieving the burden from the human agent from simple queries.

We have just started our Journey— there is a long way to go —- exciting use cases and cool features are coming soon.

AI Contextual Bot is live on AngelOne WhatsApp platform— Request you to use it and provide us the valuable feedback?

Let’s Learn and Grow Together :)?