Artificial intelligence (AI) is a rapidly advancing field that has the potential to transform many aspects of our lives.
In 2023, Conversational AI is expected to become even more prevalent in businesses, as the technology continues to mature and is applied to an increasingly diverse range of fields and functions.
Here are some ways in which Conversational AI will be important to your organization in 2023:
1. Customer service
AI Powered Chatbots and Intelligent Virtual Assistants are already being used by many businesses to improve customer experience and to reduce the workload of human agents. Conversational AI allows for self-service, 24/7 customer support that in turn reduces the level of human interaction required, taking pressure off the customer service teams, increasing efficiency and reducing costs.
2. Personal assistants
Intelligent Virtual Assistants, such as Apple’s Siri or Amazon’s Alexa, are becoming more common in homes and businesses. The global Intelligent Virtual Assistant market has increased significantly over the years and is expected to reach $32.10 billion in 2026 at a CAGR of 35.23% . Along with its market growth, the abilities of their intelligent technology has also expanded to performing tasks such as setting reminders, answering questions, and controlling smart devices. This means optimizing productivity and faster solutions for complex tasks within businesses.
Conversational AI can be used to create interactive learning experiences that are personalized to the needs and interests of your business. Conversational AI can help to establish what an employee does and doesn’t know and generate a tailored training plan, creating a more personalized experience. This can help to make training more engaging and effective, while enabling employees to better understand the business faster.
4. Virtual events
As more events and meetings have moved online due to the COVID-19 pandemic, Conversational AI can facilitate virtual events and meetings. For example, AI Powered Chatbots and Intelligent Virtual Assistants can assist with the scheduling, registration, and Q&A sessions. AI can be a valuable tool for improving the experience of virtual events and making them more efficient and effective for both attendees and event organizers.
5. Mental health
Conversational AI can be used to provide mental health support to employees who may not have access to in-person therapy. AI algorithms can be used to deliver therapy or counseling to individuals in the form of AI Powered Chatbots or Intelligent Virtual Assistants. These systems can provide support, guidance, and resources to help individuals manage their mental health.
Overall, Conversational AI has the potential to revolutionize the way we interact with machines and to improve the efficiency and effectiveness of many different industries and services. Conversational AI is expected to become increasingly important in 2023 and beyond as CEOs and CIOs believe one-fifth of their total revenue could come from “machine customers” by 2030 .
Conversational AI with OpenDialog
Our AI Powered Chatbots and Intelligent Virtual Assistants make it easier to automate, scale and manage complex business processes without losing a human-like touch. With the ability to complete 80% of work without human intervention, v the industry average of 30%, our Conversational AI platform enables businesses to deliver hyper-personalized and engaging interactions for your customers, improves service experience and increases ROI.