The CXO’s Guide to Conversational AI (Artificial Intelligence)

Here is our take on how CXOs should approach conversational AI (Artificial Intelligence).

Conversational Artificial Intelligence
Conversational Artificial Intelligence

In an industry where growth happens in a short span, CXOs can ill-afford to miss out on the innovations that can become a regular part of your organization. Conversational AI (Artificial Intelligence) has provided an altogether unique experience to SaaS (Software as a Service) businesses. As a CXO of an organization, you cannot sit on the laurel and think that the disruption that is happening around you can be delegated to your subordinates.  

Remember, conversational AI (Artificial Intelligence) is a pioneering technology, and so you need to be at the top of your game to ensure that it is applied strategically in your organization. 

With the help of conversational AI, you can create a digital customer journey from scratch, enhance the contact center agent’s experience, and not to forget its tremendous impact on CX.  

All these things showcase that conversational AI is essential for CXOs to help them take effective steps in facilitating an excellent customer experience

Things that make conversational AI wonderfully unique for CXOs 

Scrutinizing customer data from scratch 

Conversational AI platforms are equipped with tools that help analyze large stacks of unstructured data. You can identify key motivations and drivers of customers based on their engagement levels. With this, you can predict how they can improve their experience and get their loyalty. This data procured can be text messages, audio calls, webchats, social posts, or chatbot conversations. They understand small interactions and reduce workload by chalking out the data in a simple format.

Comprehending customer intent using sentiment analysis 

Conversational AI matches intent to outcomes. You can process raw data from NLU (Natural Language Understanding) engines to understand customer interactions. You can learn from every conversation and scale your business. Using sentiment analysis, you can understand customer intent. Noticing how they react to the company and its products will help alter the customer journey. In customer sentiment analysis, NLP (Natural Language Processing) or NLU (Natural Language Understanding) engines identify the emotional note behind the text, helping you understand how they have placed your product or idea in their head. So, using this conversational AI can guess if a user is feeling angry or frustrated. This will automatically transfer them to a human agent.

Omnichannel presence 

The changing nature of customers needs support to be present on all channels. If a user is active on chat, they would not like to enter the information again on a call. You need to use AI to create seamlessness between texts, social media, messaging apps, and mail accounts. This can lead to great conversations and intelligent automation for users and businesses. For example- You can access Siri on an Apple iPhone, watch, or iPad. The chatbot is intelligently tuned to adapt to all three devices making you feel connected.

Points to contemplate by CXOs before going ahead with conversational AI application for their organization 

CXOs are a major part of the corporate decision-maker ecosystem and thus need to provide an enhanced customer experience. Improved experiences can happen when the benefits of technology and AI are leveraged. Here are some critical aspects of being considered before adopting AI technology or conversational AI for the organization.

Possibility to integrate the conversation AI application with the existing systems of the organization 

A conversational AI application needs to integrate with existing systems to meet the enterprise’s goals. You must also check if you can continuously manage user experience by upgrading and learning the system. To ensure they serve a linear purpose, you can analyze and integrate chatbots, virtual personal assistants, and more. Every tool needs to be integrated with others to optimize and streamline operations.

Multiple iterations might be required, so plan meticulously with clear-cut choices 

Conversational AI models require going back and forth with what works. The process can be challenging since it needs different interaction models. A poorly executed AI application can hamper the brand’s presence, and a good one can support the brand’s success. A chatbot will not work with a single sitting. It feeds on multiple KPIs (Key Performance Indicators), and thus CXOs need to be okay with changes. Remember, it is better to nip a bad product in the bud and alter it as per the needs of users.

The ability of the conversational AI application to perform synchronously on multiple platforms or channels 

You need to note if conversational artificial intelligence can powerfully perform on multiple channels. The APIs (Application Programming Interface) need to be advanced to offer user-friendly and flexible services to businesses. This means democratizing the business to offer experiences on a bunch of touchpoints, from smart home devices to apps. You need to set the stage for AI to be ubiquitous with customer conversations.

Handling customer interaction when conversation application does not have the relevant answer 

With conversational AI chatbots, users can expect unparalleled customer support in a fast, uninterrupted fashion.  While AI tools have answers to a wide range of questions and interactions, you need to know that they might not have a relevant answer to some queries. In those cases, AI can direct the question to customer service experts who will respond to the question in the unique manner it deserves.

Once you have contemplated upon the pointers mentioned above, the next thing you should be concerned about is the ROI that conversational AI can help you deliver. 

Is there a guarantee to recover the invested amount from the conversational AI application implementation?  

The AI-powered conversational intelligence tools are set to revolutionize how customer interactions happen. AI chatbots can interact with lakhs of users in a day simultaneously. This comes down to hundreds of hours saved for customer success professionals. It offers amazing potential ROI by handling repetitive tasks, freeing up employees’ time, and maintaining business functions. CXOs must keep successful implementation relevant to KPIs (Key Performance Indicators). You need to boost ROI by realizing and meeting KPIs (Key Performance Indicators) designated. With AI, you can offer endless customer services. The AI device also helps implement new digital strategies, boost employee productivity, and cut costs.

How far are you willing to go with the conversational AI once implemented

CXOs need to understand that chatbot technology can be utilized in an interesting manner. However, in case it does not meet the objectives of the company, it is necessary to start again. You need to be able to pivot in case the bot formed is not as per expectations. Since it is the face of customer service in the company, you need to be ready to restart your operations in that regard. If it clicks, it will make the brand a unique one in the eyes of the customer.19

Final Words 

Conversational AI (Artificial Intelligence) has become a trendy buzzword that has blazed the SaaS (Software as a Service) industry. Think about how frequently you use Google Assistant or Alexa. This shows that conversational AI applications are the order of the day. As a CXO, now it is up to you to determine whether you want to leverage this ground-breaking technology in your organization and reap the dividends of the trends.  CXOs need to understand business requirements and identify healthy automation. For an enhanced customer experience, CXOs need to embrace conversational AI and adopt technology to get intelligent outcomes.

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