Chatbots don't drink Tea!

Enhance your customer satisfaction index

How do we do more with less for business using autonomous technologies? This is a key question lingering in the minds of executives who try hard to solve the puzzle.

Let us first define and explain the term “Autonomous”.  A quick reference to Google reveals that generally, the difference between automatic (or automated) and autonomous is the degree of human intervention. 

An automated car does not have the level of intelligence or independence that an autonomous car has. “Autonomous” – a natural evolution of Digital Technologies further disrupts traditional business models. It goes without saying that we are witnessing an era of digital disruption, where existing business models are being challenged giving rise to new opportunities and channels – which actually contribute towards enhancing the “Customer Experience” – Mantra for survival and growth!

We are all familiar with the concept of Artificial Intelligence, which basically refers to intelligence demonstrated by machines on the basis of a combination of logic and information, fed in.

Let’s park these terms for a bit.

Turning towards the reality of today’s after-sales service delivery environment, we can already feel the pain of customer complaints regarding the quality and speed at which customers can have even the first conversation with a company’s tele-staff – for which the customer has paid and is legitimately expecting an acceptable service level. Business leaders are therefore challenged not only to keep customers satisfied, but also to absorb the cost of running these tele-services – services which exhibit various areas of improvement. E.g. Know Your Customer (KYC), availability of information, number of rings, waiting time, picking the right option on the interactive voice system. 

In emerging markets with limited factors for service differentiation, executives need to think more creatively. Since IT systems and communication lines are up 24/7, can we not have an “Intelligent Agent” which can answer service requests and deliver support services to customers 24/7, with no tea-coffee breaks? Truly 24/7 service!

Besides reducing pressure on the balance sheet, this “Intelligent Agent” will also help in enhancing the customer satisfaction levels. The agents are able to automatically read customer profiles, products purchased, timelines, earlier service requests and create an almost 360 degrees view of the customer (Note Garbage-In-Garbage-Out). Now, why do we then limit our thinking only to customer support arena, there are several other areas of any sector of the economy (online quotes – insurance, distribution, energy, booking appointments, availability of products, up-sell, cross-sell…) that can be addressed by such “Intelligent Agents”. 

Now let’s return to technology. This “Intelligent Agent” is born where Artificial Intelligence and Autonomous meet and is named “Chatbot”. And she/he does not drink milk, either! 

A chatbot(also known as a talkbot, chatterbot, Bot, IM bot, interactive agent, or Artificial Conversational Entity) is a computer programor an artificial intelligencewhich conducts a conversationvia auditory or textual methods. (Wikipedia)

Gartner predicts that by 2021, more than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development. There is clearly a shift in the way customers are and will be using mobile devices. Chatbots are predicted to dominate this eco system as it extends the platform for more innovation. No surprise to anyone that every company is either innovating, or wants to innovate. The real differentiator therefore is not whether companies are innovating or not, but the speed at which they are innovating. 

Chatbots allow you to quickly do more with less!

Dr. Avinash Ramtohul.