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Advantages of Machine Learning and AI Chatbot

May 01, 2020

Chatbots are raging in the communication channels of the market industry. They have replaced the old age calling system where sales representatives have to call the customers, and customers would most probably ignore the calls and put it on to not disturb registration. It, of course, bridges the gap between customers and marketers.

Consumers now find it much more relaxed and comfortable to interact with brands via chatbots. Although there are several different engaging mediums for the interaction and chatbots are one of the customer's most favorite mediums. We will learn the reasons for it in the blog later on!

What is a chatbot?

Chatbots are the newly designed tool that has simplified the interaction between a human and computers. Let's see the exact definition of a chatbot: It is an AI-driven software to nudge a conversation with a customer in a natural language through the medium channels such as mobile applications, websites, and message apps.

  • Importance of chatbots :

Chatbot not only enhances customer experience but gives you ample opportunities to continuously improve the customer engagement process. It reduces the overall costs you might be spending on customer service otherwise.

Although AI software applications drive chatbots, human intervention is still crucial to it in configuring, monitoring, and optimizing the chatbot system.

  • Facing the ultimate challenge: Speed 

The challenge for marketers is to provide quick responses to your customers. If you keep a customer waiting in loops, you would surely miss a chance at retaining customers. That's where the chatbot applications come in handy. They enable you to provide the split-second reactions to your customers.

BENEFITS OF CHATBOTS :

Chatbots hold the keys to the potential success of your business. They help in retaining the customers and how :

  • Serve your customers: Chatbots help in solving the day-to-day queries of the customers. They help in simplifying the user decision process. It lets the human assistants focus on other complex tasks.
  • Quick responses: Chats provide fast answers to customers. It resolves their queries immediately. Suppose a customer comes to your site, looks for a product, and faces a problem while searching for it. In such a scenario, incorporating a chatbot on your landing page will work wonders for you as it will dissolve the customer's dilemma immediately.
  • Cost-effective: Implementing chatbots is quite profitable and helps you in saving up a lot of costs.
  • Round the hour availability: Chatbots, unlike the human agents provide round the clock services. They hear and solve customer’s queries anytime, 

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The apt chatbot application:

You can create a chatbot with the help of various tools and technologies. Everything depends upon the way you want to engage with customers and achieve your goals.

For now, You can use the potentialities of various AI forms, i.e., Machine learning, Natural language processing, and semantic understanding.

Artificial Intelligence and Machine learning chatbots 

Chatbots are the replacement for virtual assistants. We have already heard of Google assistant and Facebook messenger as the popular chatbot platforms. 

Chatbot technologies are continually changing and evolving. Machine learning chatbot is one such evolutionary algorithm that you can use typically based on the uniqueness of every conversation.

Why are we using AI and machine learning chatbots?

  • Machine learning chatbots: The systems are already becoming complex to handle, and in such a situation, you must make the software work all by itself. Automation is the more apt word for it. Automations are helping us out in giving us solutions even in the rapidly changing times. 

Let's take an example - Devices such as Alexa and google home are already using machine learning. They gather millions and trillions of data and give output with the assumptions of an accurate answer. Such intent-based algorithms and AI tools are already building after every six months. Currently, machine learning is focusing on gathering insights from the data.

Shortly, maybe industries will adopt intelligent agents as far as the future of software is concerned- the reason being machine learning and artificial intelligence, which will take hold of our digital lives completely.

Al chatbots :

 Unlike the rule-based chatbots, which creates its foundation on predefined rules and approaches. These rules are not flexible, and chatbots will only provide solutions to the queries which are fed into it, whereas AI chatbots have more potential in comparison to the rule-based chatbots.

See some of its features :

  •  Solve complicated queries: chatbots develop their answers or responses to the complicated questions. Why? Because they use natural language processes and machine learning. These chatbots learn better when you train and employ them more. The more you train them, the better they will operate with the users.
  • Give relevant answers: API integrations are the backbone of AI chatbots. They continuously feed the chatbots with resources that help them in giving more relevant solutions and queries.

How do AI and machine learning chatbots work :

As discussed above, AI chatbots understand language and not merely commands. Also, they have the ability to learn more and respond accordingly as they encounter new situations. They receive the data, analyze it and determine the appropriate reactions.

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Al chatbots work on the basis of two components: machine learning and natural language processing. So, that means machine learning is not a separate form of a chatbot. But it is itself a part of AI Chatbot.

How does machine learning chatbot work?

  • Learning process: As the name implies, machine learning refers to continually learning from the encountered situations and experiences without any interruption by humans. 
  • Technology evolution: You can still experiment by giving instructions to the systems, but till the time, it will take those instructions. Technology will change, which further requires new programming.
  • Not based on rules: The system learns according to the experience it encounters rather than the feeding process.
  • It employs an algorithm: It depicts the instructions based on which computers function. Whenever a chatbot receives an input, it merely analyzes it, forms the context, and gives you accurate results.

On the other hand, natural -language processing simply uses the analytics, statistics, and other data modeling methods to produce results instead of depending on the individual instructions. It enables a chatbot to copy the styles of human interactions. But somehow it lacks the sentimental analysis.

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WHAT ARE THE ADVANTAGES OF AI AND MACHINE LEARNING CHATBOTS :

The most prominent benefit of AI chatbots is they are continuously resolving customer complaints and services. They never go out of their duty. Now let's see some other benefits as well :

  1. They find the most efficient solutions: AI chatbots simplify and handle the customer's service quite correctly. They can analyze vast amounts of data, finding and giving you the right answer. 

 You can quickly achieve any desired goals with it. They are the perfect problem resolvers for customers. It helps you to turn a lead into conversions by automating the required processes. AI can quickly identify the demographic factors of the visitors in a conversation. It can identify a customer's past histories as well, enabling you to reach your desired goal. i.e. conversion goals. The more it encounters a situation or interaction, the better it learns, and the better it opens the pathways to achieve goals.

  1. It collects and analyzes data quickly :

  Al chatbot can quickly gather and analyze data while its constant interaction with the customers or leads. Chatbots immediately recollect the past conversation when an old customer revisits the website. AI chatbots can quickly grasp all the likes, interests of such customers and engage them easily till they reach the final destination, i.e. conversion goals.

AI and customer service continually improve with updated data and machine learning.

 You can use the collected data in building a good customer base and creating strategies using marketing automation software.

  1. It creates a distinct personality: The traditional chatbots would only give responses to a simple question. Even if a customer has asked a question several times, he would only get the same answer every time. But with the evolved technology, AI chatbots give users a feeling as if they are talking to humans. If a customer is asking a query several times, it will respond differently to provide users the ultimate satisfaction until they find the perfect answer.

Taking all the advantages of AI and machine learning chatbots into consideration. It's up to you to consider the necessities of chatbots in your business. Implement it if your business demands a lot of interactions with the leads and customers.

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