Conversational AI trends and innovations, powered by Generative AI Development Services, have made it possible for users to avail of conveniences that even a decade ago were thought of as a distant and possibly fictitious future. These AI development services utilize Natural Language Processing (NLP) and Machine Learning (ML) for real interactive conversations with machines that comprehend what you are saying and create responses accordingly.
If you are an imaginative person, just from reading the above paragraph, dozens of potential ways to use this feature might have crossed your mind. Generative AI Development Services provide you with the unprecedented ability to use smart interactions and automation personalized to your specific needs.
Although the commercial applications of conversational AI solutions are still in their infancy, the impact they can have on your Business as Usual is nothing short of revolutionary. This article briefly discusses the future innovations expected in the domain and also the industry leaders who are working with the technology right now.
Future Applications of Conversational AI in Business
According to a report from Gartner, the global conversational AI and virtual assistant market is expected to see a 24% growth in 2024. The report estimates that approximately 14% of interactions in 2027 will be satisfactorily handled using AI.
Below are the three most impactful applications of conversational AI solutions we can expect to see very soon –
1. Customer Service
The 24×7 availability of AI-powered chatbots eliminates many problems faced by customers in trying to find help and support. Conversational AI services can help you do away with long waiting queues and inconsistent responses and actions.
NLP makes features like voice messaging support and video relay services providing real-time subtitles to audio content, increasing the ease of accessibility for persons with disability.
AI can help raise your business to a global scale. Conversational AI solutions support a massive array of languages from all around the world and can help your customers interact with the business in the language they are most comfortable with from anywhere in the world.
2. Metaverse
Metaverse is a virtual universe made using a blend of various technologies like VR, AR, Blockchain, and AI. It is a 3D representation of the internet which you can experience using certain devices like headsets, glasses, etc.
AI is the foundation of the technology and is what allows the other components to function intuitively. It is only through AI that the colossal amount of data from each of the massive number of users can be managed, processed, and responded to.
Conversational AI services, then, would provide the ability for the virtual characters to interact realistically and create an immersive experience. Although what we know of its communicative capabilities is only the tip of the iceberg, its use in creating Non-Player Characters (NPC) in games has already shown us that it can create sophisticated, naturally interacting digital characters.
3. Human Resources
A much-anticipated impact of AI automation is in the human resources and recruitment domain. Managing human resources and recruiting new suitable talent is an indispensable activity in every organization. At the same time, the effectiveness of these processes is also critical in minimizing attrition, retaining talent, and motivating the workforce.
AI development services provide companies with the ability to parse through massive amounts of job applications and resumes based on the position requirements. Once the selection process is complete, AI chatbots can be used to collect and verify documentation and sort out joining details.
Conversational AI services can also be used to address common issues faced by employees and provide immediate responses, especially in cases concerning benefits, insurance, etc.
This lets your human resources team occupy a supervisory role addressing only what requires real human interaction. This saves an incredible amount of time and effort while also decreasing the potential for mistakes.
Companies Leading Innovations in Conversational AI
Using an AI development company lets you boost your everyday business operations and customer-facing activities. AI-powered automation and tools drastically improve the experience of both employees and customers.
These five companies are working on conversational AI trends that can be rolled out for commercial use right now.
#1 Q3 Technologies
An industry leader in integrating conversational AI services into business operations, Q3 Technologies has been delivering top-quality technological solutions for over 25 years.
Points to Consider –
- A very cost-efficient option providing excellent quality.
- Customer-centric development services and rapid delivery.
- Excellent support throughout and after the product development lifecycle.
- Highly customizable solutions that can be tailored to specific business needs.
#2 TCS
An AI development company that offers a variety of services including analytics, integration, and security. Founded in 1968, it is the oldest IT company in India and is a very popular choice for chatbot development.
Points to Consider –
- An extensive library of cases and solutions built from a long time of operating
- Provide a user-friendly interface for managing chatbots
- Excellent post-development support
- A comparatively pocket-friendly option considering the provided features
#3 IBM
The International Business Machines Corporation was founded in 1911 and is the first IT company ever in the world. It is impressive alone for a company to have survived so long, but what is more so is the constant innovations and tremendous quality they have been able to deliver over the years.
The company allows you to build and customize your chatbot using their Watsonx Assistant platform. It is ideal for non-technical staff.
Points to Consider –
- Leading expertise in conversational AI solutions
- Provide customizable development services
- Excellent customer service and support
- Creating Large Language Models (LLM) conversational AI platform with little to no coding
#4 Cognizant
The USA-based company has over 25 years of experience in providing IT solutions. Their company provides custom, as well as stock solutions in their suite of solutions called Neuro AI that accelerates the adoption curve of generative AI into the business.
Points to Consider –
- Reasonable pricing
- Easy-to-use interface and amazing user interface
- Easy to integrate solutions
- Can be integrated with other legacy applications
#5 Accenture
Accenture is an Irish-American company headquartered in Dublin that specialises in IT services and consulting but provides services for many business processes. The company offers prebuilt conversational AI services and models.
Points to Consider –
- Can be integrated with multiple channels.
- Launching AI Navigator to guide AI strategy throughout the business
- One size fits most approach allows for fast integration and low training time
- Data analytics though not as intuitive as custom ones, deliver all important insights
Conclusion
In a recent interview, Bill Gates, the founder and former CEO of Microsoft referred to AI as a “force of god”. When a person who has built his mountain of wealth by developing technology tells you this, you would best listen.
AI development services are not just the future, they are already here and are being actively leveraged to gain an edge in today’s fiercely competitive business environment.
The world has become smaller and with the communication and information technologies available today, any innovation can stay unique for only a very short time. As such, the quality of the AI development company you use could mean the difference between success and failure.
So, choose wisely and step into the incredible new world of the latest conversational AI trends.