Conversational AI

Exploring the power of all new Intelligent Conversational AI and how Generative AI and Conversational AI can enhance your Digital Channel customer and employee experience

Unlocking the Potential of Conversational AI for Business Transformation

Conversational AI is one of the most revolutionary technologies in today’s rapidly evolving digital landscape. It has the potential to revolutionize customer interactions across various industries, from e-commerce and customer support to healthcare and education- bringing about significant cost savings and improved customer experiences. According to Gartner’s predictions, conversational AI will be crucial in reducing contact centre agent labour costs by a staggering $80 billion by 2026. As a company committed to driving Customer Success through innovation, Version 1 is actively exploring the transformative capabilities of Conversational AI.

One of the key advantages of Conversational AI is its ability to provide instant and round-the-clock support. Moreover, Conversational AI can handle multiple conversations simultaneously, making it scalable and cost-effective for businesses. It allows companies to reduce the need for large customer support teams while efficiently managing customer inquiries during peak times. As a result, organizations can optimize their resources and allocate human agents to more complex and high-value tasks.

As a company committed to driving Customer Success through innovation, Version 1 is actively exploring the transformative capabilities of Conversational AI. In close collaboration with our clients, the AI Labs actively identifies opportunities to integrate Conversational technology into their operational processes. One of our initial successes in this endeavour was the development of the Smart FAQ Bot. Building on this achievement, we have harnessed the synergy between Conversational AI and Generative AI to create advanced virtual assistants capable of answering questions using vast and diverse datasets.

What is Conversational AI ?

Conversational AI is Artificial Intelligence (AI) software which is scripted to simulate conversations with users. Conversational AI are typically designed to simulate a human as a conversational partner and are often used online and in messaging applications. Communication can be through a range of methods, such as text, audio and graphical interfaces. Advanced Conversational AI can be integrated with Natural Language Processing, but the majority of Conversational AI currently scan for keywords and pull for results based on the initial query. Conversational AI are able to bring a range of business benefits to organisations – find out how Conversational AI can help your organisation below.

Benefits of Conversational AI

Increase Productivity
Don't keep employees, users or customers waiting unnecessarily and provide fast, automated responses to users.
24/7 Customer Service
Having customer service available at all times of the day can have a positive impact on customer satisfaction.
Lower Running Costs
Implementing Conversational AI is cost-effective, with the ability to scale to organisational needs.
Increased Customer Engagement
Conversational AI can engage and interact directly with potential customers.
Gain New Insights
Conversational AI can track purchasing patterns and gain insights into consumer behaviour through data analysis.
Reduce Workload
Reduce your organisational workload with Conversational AI able to handle multiple queries simultaneously.
Higher degrees of personalisation in your digital channels through demographic, style, language and tone that reacts to changing situations and sentiment e.g. contact centres and chatbots
Enhanced Resilience
Enhancing Digital Channels with next generation engagement bots either externally or internally enhancing 24/7 answers and the removal of single points of failure in your organisation
Deliver solutions that tune and leverage language suitable for different situations which may be more suitable for neuro-diverse individuals or for people with other specific accessibility needs

Find out how Smart FAQ Bot can impact your business

Download this datasheet to find out more about Version 1’s Smart FAQ Bot, including its use cases, benefits and key features.

Download Datasheet

Use Cases for Conversational AI

Interested in Conversational AI? Talk to the Innovation Labs