“Innovation in AI can boost growth and achieves better vision for both business and economy”
Live Intelligent computer program designed to simulate intelligent conversation with humans is what AI Chatbot is. It was talk of the town among data scientist in the late 2015. Some chat bots use artificial intelligence to respond to input (text or speech) or some finds matching keywords to generate response from the database. Even though one may spring up the thought of chat being done with machine but intelligent chatbot brings human touch or one may feel communicating with real humans. People are always captivated towards easier life with the implementation of technology. Considering service sector where customer satisfaction and confinement is utmost priority, AI chatbot is serving as a boon. It not only increases sales but also provides 24×7 hours service which brings more customers to business.
Types of Chatbot:
- Structured Chatbot: It is less complex and based on hardcoded questions and answers. Explaining this with an example, suppose chatbot is trained with Deodorant and you ask which Deodorant is best for you. It will certainly respond with the right answer. But if you ask them about socks, it is not trained with such and have no answers to it. So it will reply sorry I don’t have any answer for it.
- AI harnessed Chatbot: They gets more and more intelligent as more and more user interacts with them. For the same question asked to a structured chatbot, AI chatbot will understand the question and provide some answer to it. It is a learning brain.
How AI chatbot with deep learning works (Intelligent Chatbot)
Today deep learning has achieved many magical and unbelievable results that shifted the level of AI. Working with deep nets and layers gives an impression of working with human brain cells and neurons. Suppose word hello is given to layers of deep neural network. Different layers will have different work. Suppose layer 1 will look at each character of the word being provided as input while layer 2 will see when the message is received. Layer 3 will look for message received beforehand and each layer will produce weights as output and will transfer it to the next layer. Final layer will get the summing of these weights. GRU’S or LSTM are frequently used for building such AI driven chatbots but GRU are more preferred as it is more efficient than LSTM for controlling data flow and contains only 2 gates (update and reset) while LSTM contains three gates. Dynamic memory networks are state of art in building AI driven chatbot which uses both semantic and episodic memory.
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How AI chatbot can help in growing business
According to an article, “Bad customers service costs business billions of dollars” companies loses $62 billion per year due to poor customer experience, This figure is nightmare for business, market and financial analysts. Knowing customer and their demand is the true reflection of market. An optimist customer experience builds trust towards any company. Chatbots are self service tools which can connect with customers 24×7. So it can fill the gap in the weekend while customer will get what they want in such time. Handling multiple customers at one time is another salient feature of it which makes it special and saves money. To elaborate more, unlike people single chatbot can interact with thousands of users at a time which makes it cost effective when compared with manpower. Chatbots are used at the call centers and customer support department of many companies. Conversica is a company which offers a chatbot for email conversation which analyze the emails from clients which further helps salespeople for boosting sales.
In a nutshell, conclusion drawn from above reading states that business is boosted with the aid of intelligent chatbots. Structured chatbots are replaced with AI driven chatbots as they are more flexible and learns from conversational logs. Features such as providing 24×7 service, analyzing emails and handling multiple customers at single time is both cost effective and building better business.
It is matter of deep pleasure that we have created our own AI chatbot which is working in our parent company aisangam. You can visit there and starts conversation with it. Hope you will enjoy a lot. I am attaching here the screenshot for better visualization.
We have also made many videos explained the chat bot for AI Sangam. I am sharing all the links, Please go through these and learn about chat bot more. Feel free to ask the questions that strikes your mind. Self awareness hub is the child branch of aisangam which is our parent branch.
Along with this blog, we have our parent blog where there is detailed description about Types of chatbot || Contextual chatbot || Virtual Assistance || Chatbot.
Good thing about this article is that you can see a lot of images and visualization which enables you to learn the things in more simplified version.
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