Self-learning chatbot for business

The emergence and development of artificial intelligence technology has opened up a new way for businesses to communicate with customers – through intelligent chatbots. They are able to recognize natural human speech, identify the needs and even emotions of the user, which increases the effectiveness of messaging.

According to the latest statistics, more than a third of all Internet users prefer to interact with such chatbots rather than live operators, as this allows them to get an answer to their query faster.

This means that the majority of your customers want to receive help in real time, which means this audience need needs to be taken into account when forming a business development strategy.

We talk about the possibilities, advantages and stages of developing an individually oriented chatbot based on AI in this material. The article will help you understand why your company needs this tool and what specific steps should be taken to implement it in your business.

The chatbot market is already quite large, and by 2026 it promises to grow to $10.08 billion. In addition, bots have proven themselves to be an indispensable element in the field of automating communication with clients. Hence the “gold rush” to introduce such a tool in companies from a variety of industries.

We have identified three main reasons why businesses should consider creating their own chatbot:

• The ability to make the brand available 24/7. Obviously, the chatbot can work without restrictions or interruptions, which means your company will be available to customers around the world around the clock. He will guide the potential buyer through all stages of the sales funnel and lead to the conclusion of the transaction or answer any of his questions – it all depends on the request received. In addition, unlike a live operator, the bot is able to process thousands of applications simultaneously, without slowing down and without making mistakes.

• Collection of client data. The bot not only stores received client data on the server, but is also able to analyze it in order to personalize service. For example, it can easily select the user a suitable product from an assortment of thousands or provide comprehensive information about the selected product.
• Optimization of server operations. A chatbot can be used not only to automate work with clients, but also to optimize internal work processes in the company. For example, the American conglomerate JPMorgan saved 360,000 hours of lawyers’ time spent on reviewing loan agreements, and reduced it to a few seconds, by introducing an AI-based bot to process agreements.

The important thing is that the chatbot with artificial intelligence has the ability to self-learn. After completing each process, it “adjusts” its algorithms, and next time it copes with a similar task much more efficiently.

If you plan to use the bot’s capabilities for marketing or customer service, 100% automation is not possible. This must be taken for granted, because the capabilities of AI have not yet reached the level to completely replace humans. A wiser decision would be to find the right balance between live chat and chatbot.

Combining these communication channels will provide customers with a seamless brand experience.

Thus, it is better to make a chatbot the first point of contact with the user – it will instantly respond to new messages and easily solve most standard questions. At the same time, difficult conversations that require additional support are best redirected to live chat operators. Considering that more than 80% of client requests for statistics are of a typical nature, even with this combined approach, the bot will significantly relieve the support team and allow them to devote more time to really important issues.

Implementing an artificial intelligence chatbot into business processes requires careful planning, discussion and high-quality technical execution. Regardless of the industry and company characteristics, the steps along this path remain the same. Let’s look at them in more detail:

• Step 1: Determine your business goals. The first step is to determine the benefits your business will receive from using a chatbot. In this case, it is worth taking into account the company’s development strategy, its internal processes and the needs of the target audience.
• Step 2. Selecting the target scenario for using the bot. Next, you need to conduct research to understand and segment your target audience. This will largely determine the scope, design and implementation of the chatbot strategy, and will also increase the chances of project success. The important thing to understand here is that every business has its own unique needs when it comes to using bots, so a cookie-cutter approach won’t work.
• Step 3. Select a platform. A chatbot can be integrated into a company website, into a messenger, or into a separate bot platform. To choose the best option, you need to analyze through which channel customers interact with your company most often.

• Step 4: Create a customer journey map. An important step in user experience management, which allows the bot to produce better and more relevant results based on behavioral patterns. As a result, you can improve customer interaction with your brand, increase their satisfaction and loyalty.
• Step 5. Technical implementation. Next, based on the information received, the developers create a neural network that will manage the dialogues in the chatbot. For technical implementation, several basic algorithms are used: NLP – translates human speech into vectors (corresponding numerical values) that are understandable by a computer, NLU or Natural-language understanding – when translating speech into “machine” language, it takes into account various errors and typos made by the user , as well as ML or machine learning – allows the bot to learn itself as it works. At the initial stage, stories of existing dialogues with clients can be used to train the bot.
• Step 6. Testing. Before putting into operation, the bot is thoroughly tested and configured, which eliminates most errors in its operation.

By introducing a chatbot into your business, you will be able to automate communication with customers, improve the quality of service and save resources on maintaining a support service. As a result, your company’s profitability and competitiveness in the market will increase significantly.

AVADA MEDIA will help you design and develop an effective AI-powered hour bot that will fully align with your company’s individual business strategy and meet the needs of its customers. Contact us via the feedback form and let’s make your project a reality together.