Author: Ori

  • Top 15 Ways Conversational AI Is Transforming the Future of BFSI Industry

    Top 15 Ways Conversational AI Is Transforming the Future of BFSI Industry

    Humans have been fascinated by the use of Artificial Intelligence as a digital medium to every problem at hand, and the BFSI industry is no different.

    Let’s take a deeper look at how conversational AI and virtual assistants positively impact the Banking and Financial Services industry.

    1. Reduce Customer Effort:

    An AI chatbot serves customers effortlessly by transferring contextual information across digital touchpoints through intent identification and omnichannel presence. This allows better control over the customer experience online.

    2. Ease of Use:

    Conversational AI and Virtual assistants enable more automation and are easier to use than traditional banking apps and websites. There is no download required as it can be deployed on popular messaging channels and apps, making it easier to deliver support.

    Several companies in the BFSI sector are currently working on projects to tap into social platforms like Facebook, WhatsApp, Instagram, etc., to stay in touch with their customers.

    Over the last few years, social platforms are an increasingly popular medium for customers to interact. Therefore, it is also convenient for companies to have a healthy relationship with their consumers.

    3. Personalized Interaction:

    Customers nowadays want a personalized yet quick response to their concerns and inquiries. As a result, conversational AI has established a vital position in the BFSI industry.

    Banks can provide adequate services to their customers with chatbots and virtual assistants without investing a lot of time, money, or man hours.

    With Conversational AI tools, companies can understand customer behavior patterns, life events, and important moments so that customized offers and tailored products can be offered for any time in a customer’s life.

    4. Smart Advisor:

    AI chatbots can analyze the customer’s data and deliver insights to improve their financial management. Based on this information, virtual assistants can offer individualized financial advice. From purchase patterns, spending behavior, ideal insurance plans, and credit information to budget planning and cost savings, AI-enabled virtual assistants are fully equipped to be personal money managers.

    5. Lead Nurturing & Sales:

    Conversational AI has proved its mettle for being one of the most reliable techniques to generate warm leads. Unlike a human sales force, a chatbot has access to various customers across the omnichannel buyer journey. Moreover, chatbots are armed with a repository of customer insights that can be processed at lightning speeds. This makes them uniquely suited to filtering large potential customers through the sales funnel. An AI-powered chatbot for BFSI also helps automate lead prioritization in real-time, based on its conversations and data collected from prospective customers.

    6. 24/7 Customer Support:

    A virtual assistant can engage with customers, solving their problems and escalating their more complex demands. The service offers a real-time filtering system that can significantly reduce the workload on your customer support staff. AI-powered virtual assistants can resolve up to 80% of customer queries, saving time and resources.

    7. Omni-Channel Digital Experience:

    With an AI chatbot, it is possible to seamlessly enable organic customer communication across all channels. Banks can even utilize analytics to understand better the routes customers take to reach banking & finance services. It will help ensure prospective and existing clients receive an efficient, engaging, productive, and relevant digital experience.

    8. Lower Operational Costs:

    A virtual assistant must be trained and has a one-time development expense before managing thousands of customers across multiple channels. Moreover, building a virtual assistant that functions across customer touchpoints are less expensive than developing a customized application, primarily when operating on a cloud-based framework. The organizations of the BFSI industry should expect a significant decrease in the cost of collecting, nurturing, and managing customers, with an AI-enabled virtual assistant being at the forefront of the digital customer experience.

    9. Tackling CoVID-19 lockdown restrictions:

    Customer service operations have the most difficulty adapting to remote work due to the compulsory work-from-home culture. In contrast, the customers struggle to receive support in the form of required information promptly, which results in a massive backlog of requests for help, delayed answers to customer questions, and inundation of unanswered calls and emails for the companies.

    10. Feedback Management:

    For any business, customer feedback is essential. The same is true in the BFSI industry, as virtual assistants can provide valuable feedback via numerous online surveys and questionnaires. In this way, banks can acquire the feedback data they need without conducting physical surveys.

    11. New Accounts:

    Customers can open new accounts for respective banks with virtual assistants because of their explanation powers. A comprehensive automation system like the bot can persuade them that banks offer the best services and convenience.

    12. Insurance Sales:

    The insurance sector is one of the most profitable financial products of the banking industry. It provides capital to banks that can be invested into assets that keep these institutions afloat in times of economic hardship. For insurance sales, banks frequently rely on physical human representatives who persuade customers one on one about the benefits of a good insurance plan. This can drastically change with AI-enabled banking virtual assistants who can utilize important, financial, and personal customer history to offer insurance plans best suited for the customer and offer recommendations.

    13. Locator Services:

    With the help of virtual agents, customers can find the nearest ATM or branch to conduct important transactions and receive assistance. Though most banking services are expected to go digital in the coming years, some essential banking operations can remain physical. Bots can help find the branch customers can visit in close areas.

    14. Bot-Agent Joint Operations:

    After the initial questionnaire, conversational AI tools like chatbots can handle live agents’ cases or queries. Sales pitches can then be developed based on this information. Such an ecosystem can ensure growth for banking institutions and maintain human integrity and employment.

    15. Fraud Prevention:

    AI can examine the patterns of payments in a given account. It can validate any resemblance to the indicators that point to fraud. It is where Conversational AI chatbots may be used for fraud protection and to connect with consumers for transaction confirmation. AI chatbots can identify fraud at any time of day. It implies that if there’s any unusual activity in the bank account, the system is programmed to temporarily stop it and notify the user.

      Gen-AI Financial Assistant: The Next Generation of BFSI Industry

      Historically, banks have given instruction or planning templates to assist with budgeting and general financial wellbeing. That isn’t good enough anymore. Millennials prefer financial applications that “do it for me” or have AI assistance. 

      This is because millennials and subsequent generations are accustomed to digital services that provide rapid and meaningful data-driven insights. As banks compete with fintech giants to create more and better insights, pairing these insights with ORI’s Convert powered by Conversational AI will genuinely transform the engagement model.

      Ori in the form of a Gen-AI-powered Agent, serves as a financial coach in your customer’s pocket. When a flexible Virtual Assistant delivers insights in natural language, customers can interact with, increasing engagement and the potential for positive outcomes.

      These assistants can take loyalty to the higher levels in banking. When customers get an alert or text that a bill is due, they do not want to make a mental note or click on a link only to navigate a few menus. The expectation is to have a virtual assistant follow-up with a question of what date to set up the payment for, then complete the setup right there in the chat or voice session.

      As customers leverage the Conversational AI tools and its enhanced engagement method for routine tasks, they will derive a better service and outcome and explore similar solutions. Each open to exploring Convert represents higher engagement, better service, and lower cost-to-service for the companies.

      As new features get added with the evolution of tools, the customer data gathered becomes a feedback loop to guide better product offerings and more personalized insights. Conversational AI also help banks cross-sell. Using virtual assistants as 24/7 financial coaches will increase customer loyalty and produce better economic outcomes, which are essential for companies in the BFSI sector.

      The Bottom Line:

      The automation platforms of today are more intelligent, combining cognitive learning technologies with machine learning. This is clear evidence of AI’s unique value proposition for the BFSI sector.

      By scaling up conversational AI investments, the business models in the BFSI sector will inevitably change, mandating enterprises to reinvent processes and create a productive ecosystem. Cost efficiencies and adapting to customer needs and niche offerings will shape businesses.

      However, the roadmap to conversational AI adoption is not without obstacles. Amongst various challenges, access to skilled talent, the right vendor, choosing suitable models, and effective training practices – need to be addressed.

      If you are facing any of these issues, and looking for a partner who can help you eliminate these problems while driving effective adoption, schedule a demo with our experts today.

    1. The Best Open-Source Chatbot Platforms of 2025

      The Best Open-Source Chatbot Platforms of 2025

      Wondering where to find the best open source chatbot platforms?

      No worries we’ve listed the best among those for you here! Let’s dive right in.

      Let’s first have a look at what open source software is, it’s basically a software code that can be seen, modified, and distributed by anyone. In simple terms, it is something that is publicly accessible.

      Open-source software has given us some real jewels over the years. Mozilla Firefox, Linux, WordPress, VLC, Apache, LaTex, and Ubuntu are just a few standouts.

      Chatbots have been a revolutionary invention, one of a kind that has changed how we view communication. Before diving deep into the best open-source chatbot platforms let’s quickly go through what open-source chatbots exactly are?

      What are Open-Source Chatbots?

      This is how you define a chatbot: ‘a computer program designed to simulate conversation with human users, especially over the internet.’

      We have knowingly or unknowingly interacted with a chatbot at least once, maybe while ordering food, shopping online, booking a train ticket, and many more. These are the chatbots deployed by the companies to assist their customers Ex. Amazon has a chatbot on their website that assists customers throughout the process of shopping which we popularly call Alexa.

      There is however another way lying underneath which we call open-source chatbots. They are just like modern web applications. They live on the interweb, use databases and APIs to send and receive messages, read and write files, and perform regular tasks.

      Here are some of the best open-source chatbot platforms:

      1. RASA:

      RASA is a set of open-source machine learning tools. These tools can be used by developers to create chatbots and assistants. The two major components of Rasa Stack are ‘core’ and NLU. It’s quite simple.

      The NLU understands the user message and Core decides the next move. Rasa is an Independent service which means that it doesn’t have to go through API (Application programming interface). It can be deployed on a cloud even if it’s private. 

      2. Bot Press:

      It’s a self-proclaimed WordPress of chatbots (Open source bot-building platform) It’s built using a modular blueprint. You can snap pieces off and add new bits to an existing code frame. It is based on a 3 step installation process.

      After the developers build the bot they deploy it on the preferred platform and give them access to manage the respected person. The best thing about botpress is that it is developer friendly, comes with an intuitive dashboard, and is powered by flexible technology. It gives you full control over what comes in and out.

      Ana’s SDKs ensure that you can integrate Ana into your app in a matter of minutes.  

      3. Open Dialog:

      It’s undoubtedly the most popular among the open-source chatbot platforms. It helps to design. Integrate and deploy chatbot effortlessly.

      OpenDialog flaunts the ability to perform real-time STT processes while still using relatively low memory. It can work as a server unit as well as deliver the N-best/word graph output.

      The USP of this product is that it allows you to build full-fledged conversational agents without having any coding experience.

      4. Tock:

      Tock is another brilliant platform for chatbot development and deployment. The best thing is that it requires no third-party API and can work independently. Integration becomes easier when you are using a platform like Tock. 

      5. Deep Pavlov:

      It’s a popular chatbot development platform based on TensorFlow, Keras, and PyTorch that gives developers flexible tools to build powerful conversational agents that are multi-skilled assistants.

      The best thing about this one is that it’s compatible with NLP (Natural Language processing). The fact that makes it stand out is that it is easily deployable.

      6. Botfront:

      It is an enterprise open-source platform for Rasa teams. It helps you design and implement your conversations at once. It is a collaborative platform built on Rasa. The best thing is you can create complex conversational forms using this open-source chatbot with ease.

      One more benefit is that it helps you create multilingual assistants hence the language barrier is removed. It is a good tool to analyze your conversations at a scale. 

      7. Pandorabots:

      What makes it unique is that it is built for developers as well as CX designers. This multilingual bot offers a wide range of solutions. It would be wise to call it a smart bot as it is always context-aware. It is compatible with speech to text and text to speech. It is flexible and extensible as it contains RESTful APIs to integrate with apps and systems. 

      8. ClaudiaJs:

      Claudia makes it easy to deploy Node.js projects to AWS Lambda and API Gateway. AWS Lambda and API Gateway are incredibly flexible, but they can be tedious to set up, especially for simple scenarios. Running Node.js functions requires you to iron out quite a few quirks that aren’t exactly well documented. Claudia automates all those steps for you.

      It can be deployed and updated using a single command. It comes with multiple versions which are easy to manage.

        The best thing about Claudia is that it’s easy to use and compatible with different versions. You should definitely try this unique platform.

        To Conclude:

        So here we end our list of the best open source chatbot platforms in terms of specific measures like customizability, 24/7 availability, NLP engine, and most importantly data privacy. However this is not the end here we selected the best ones among many available on the web, you can go and check them yourself.

        Also, schedule a demo with our experts if you need help in selecting a Gen-AI solution that suits best for your operational and customer needs.

      1. AI With Intelligent Automation (IA) is the Secret Sauce to Conversational Results

        AI With Intelligent Automation (IA) is the Secret Sauce to Conversational Results

        Customer experience is now at the center of modern business strategies. Such a customer-centric approach is growing in our times due to massive competition and options available to consumers. But how do brands create a competitive edge and offer an exceptional customer experience?

        AI allows us to hit that sweet spot and deliver impeccable sales as well as customer service. It enables consumers to get a hyper-personalized experience that is quick and efficient.

        When you consider it from a customer’s perspective, creating a better experience is all about simplification. Conversational AI can help simplify the entire consumer experience from product understanding to purchase and from post-sales services to customer claims.

        But in order to simplify the process, we also need to look at the pre-existing data and make the best use of it.

        Behind Every Great AI is a Lot of Data

        The more data that’s available, the more training it will have and the better it will perform. There’s a clear correlation between the amount of data that is used to bootstrap an AI’s knowledge base and its accuracy in carrying on conversations with your customers correctly.

        To be accurate, data is the building block behind Conversation AI. Through the help of available data and patterns, AI defines the understanding of a customer’s message and looks for the desired information.

        Let’s take an example here: Imagine that you’re creating a virtual agent, and the virtual agent sits on a website or landing page.

        The website is going to be connected to a tech stack such as a CRM, Marketing automation tool, etc. Systems that will give you insight into historical data, historical and real time actions of a customer.

        To know more on how you can use messaging platforms to capture first party customer data – view our blog piece here.

        Maybe the user is on the returns page. Or they have added a product to the cart, or have just logged in – at each instance, they would want to talk about a different problem and have a different conversation. Several common scenarios may include:

        • I recently purchased a shirt but I received the wrong colour.
        • When will I get my package? I ordered a product from your site a few days ago!
        • I tried to purchase a subscription for your platform. The amount is deducted but I still don’t have access. Help!

        Now, they may connect with your sales assistants, who in return can recognize their phone number, understand what their previous interaction with the company was, and whether this conversation is likely to be relevant to a previous conversation.

        If you smartly use the data that you already have on your customers, their data from their conversations, data on their preferences, based on previous customer interactions, or contextual, based on the actions that the customer has taken, then you’re able to provide truly personalized, truly contextual AI assistance that is going to create a superior customer experience.

        Why You Should Be Concerned With The Quality Of Data?

        While the quantity and availability of data is a necessity to train a Machine Learning model, it is equally important to have accurate, precise, and useful data.

        Data that is inaccurately collected or extracted would make Conversational AI inefficient. As such poorly collected data can actually defeat the purpose of quick, efficient, and automated sales as well as customer support.

        Therefore any solution that we build with Machine Learning has to use a verified and accurate set of data in order to be useful and improvised over time.

        Quality Data In Conversational AI Can Lead to Numerous Performance Advantages:

        • Good quality data can allow Conversational AI to fulfill any customer requests or questions accurately, creating a better experience for them. In turn, it helps brands gain customer loyalty. A win-win situation, right?
        • Accurate data can allow you to be safe against false promises and inaccurate customer expectations.
        • Efficient Conversational AI solutions can provide you with an idea of consumer interest and frequent concerns. This can help businesses to gain feedback on where and how they can improvise. Lending results beyond the solution itself.
        • Machine Learning models can improve over time if it is fed the right data. Much like a positive feedback loop, such a Conversational AI solution would get better over time.
        • Only high-quality data can give expected outcomes. Without a verified Conversational AI solution, there’s constant room for error and such a Machine Learning system must be supervised throughout the implementation.

        In the End, It’s All About the Right Dataset

        Gen-AI carries great potential to transform your customer experience. However, it is essential to understand that such a solution can only be beneficial to you if it is built upon the right dataset.

        Schedule a demo with our experts today to know how we can help you with effective deployment of Gen-AI into your business.

      2. How MoEngage X Convert by ORI Partnership Changes the Sales Automation Landscape

        How MoEngage X Convert by ORI Partnership Changes the Sales Automation Landscape

        Convert by ORI, voted by Google as the #1 B2C conversational revenue acceleration platform, has partnered with MoEngage, one of the fastest-growing customer engagement platforms, to bring the power of 2-way sales conversations to WhatsApp. It can do this in over 100 global languages and their regional dialects (Indian, SEA, GCC languages), such as Bahasa, Singlish, Hinglish, Tamil, Bengali, Arabic, etc.

        With a focus on improving conversions across WhatsApp and conversational channels, Convert by ORI has delivered impressive results across Customer Value Management journeys, including Lead Generation, Sales Conversion, and Customer winbacks.

        MoEngage is an intelligent customer engagement platform, with AI-powered customer journey orchestration, that helps brands personalize notifications and offers at scale.

        The MoEngage and Convert partnership helps Marketing and Product teams run two-way conversational campaigns on WhatsApp (and 40+ other communication channels) from within MoEngage.

        This partnership further strengthens the MoEngage platform offering brands conversational sales capabilities that can be leveraged through WhatsApp (and other leading communication channels).

        With today’s customers looking for instant and personalized experiences – this partnership enables brands to deliver context-rich, instant, and hyper-personalized experiences to their customers on the channels they prefer.

        This partnership further strengthens the conversion and customer value management capability within the MoEngage platform.

        The two-way communications feature is open to MoEngage customers across regions. 

        Maaz Ansari, Co-founder of ORI says, “ Through this partnership, the MoEngage and Convert solution helps marketers and product owners shape beautiful customer communications across Whatsapp and other channels (40+) to enable relevant, context-rich, instant, and hyper-personalized conversations that drive real value.”

        Anurag Jain, Co-founder at Convert by ORI says, “Brands are realizing the high potential of Conversational channels to amplify engagement, improve revenue generation, and increase CLTV. Meta allowing promotional messages on WhatsApp is a big move in this direction. With the MoEngage partnership, we are taking a step further in helping brands be more connected with their customers.”

        Seema Bhandari, Partnerships lead at MoEngage says, “We are always looking to bolster our platform and create seamless integrations that can add value to our existing and new customers. Partnering with a Google Awarded Conversational Sales platform like Convert by ORI will help us create immense value that further helps our customers while also helping us build a robust tech ecosystem.”

        About MoEngage:

        MoEngage is an intelligent customer engagement platform, built for the user-obsessed marketer. With AI-powered customer journey orchestration and personalization capabilities, MoEngage enables hyper-personalization at scale across mobile, email, web, SMS, and messaging channels.

        About Convert by Ori:

        Convert by ORI supercharges conversions through instant, relevant, and persistent, humanized AI conversations across messaging, voice & advertising channels (70+ channels).

        Through human-like automated conversational experiences – Convert enables an automated immediate, personal, responsive, and context-rich online-assisted sales experience that enables a lift in bottom-funnel metrics.

        Schedule a demo with our experts to know more.

      3. Why Marketers Don’t Need Landing Pages to Personalize Post-Click Experiences?

        Why Marketers Don’t Need Landing Pages to Personalize Post-Click Experiences?

        Search ads use keywords to find products that match the user’s needs. When customers search for something and find a match, they might have questions that reduce dissonance and move them toward conversion. Moreover, the data from all those could help your business or client in the future too.

        Landing Pages:

        As a digital marketer, you might have read and implemented thousands of tactics to get your clients the conversion they want. One specific part of advertising – search ads – is a lot trickier than any type of social media ad. When working on a search engine ad and its copy, you need to focus on the landing page structure, the content, as well as the users, search intent vis-à-vis your product offering, or your ad will never perform.

        After tons of practical layouts and strategies to optimize the post-click experience on landing pages, there is still a loophole. A majority of search ads do not convert, and customers often click and bounce.

        If you are using the age-old techniques of copy alternatives or graphical representation, you may be losing out on personalized experiences. Today’s customers are expecting personalized, immersive, and context-rich experiences.

        Post-Click Automation:

        96% of paid Google Ads don’t convert. While most marketers use automation services, a flaw focuses on the pre-click phase. To move with the personalization towards the post-click phase, a smarter way is post-click automation (PCA).

        What is Post Click Automation?

        Marketing funnels have a post-click stage where automation is done through marketing technology, which is known as post-click automation. It is a technology through which marketers leverage advertisement conversions by providing one-to-one personalized experiences. It fills the gap between the pre-click segmentation and post-click reaction phases by combining elements like AI, Ad Mapping, Machine Learning, etc.

        How Does It Impact the Post-Click Experience?

        PCA combines all elements of post-click expertise like A/B testing, page creation, etc., to provide a comprehensive solution in a single place. Ad mapping, scalable creation, personalization, and optimization techniques are combined to create experiences for every stage of the advertising funnel for finding the search ad performance.

        But even with post-click automation that claims to resolve the issues of bounce rates and low conversion via search campaigns and PPC, a complete solution is yet to be found.

        What are the Customers Expecting?

        If a customer searches for something online, they are looking ahead to find multiple options that fit their consideration set. With thousands of similar products and services, brands cannot rely simply on creating a landing page per ad. Customers have a wide range of options, which further lengthens their decision-making process, leading to their indecisiveness.

        If you are relying on basic search and tactics, your CAC will take a toll. So, what is the way out?

        Improve Post-Click Experiences Through Personalization Using AI & Conversations

        Every customer wishes to engage with the brand they are likely to purchase from. While there are certain informative points mentioned, the customer might still be skeptical. The best way to approach the increasing bounce rates is to aid them with a technological product that converses with them at their time and convenience.

        1. According to Salesforce, 69% of consumers prefer using chat interfaces as they deliver real-time answers and personalization. 
        2. According to Business 2 Community, 82% of consumers claim that instant responses to their questions play a significant role in the buying process when contacting brands.

        Engagement:

        Considering how chatbots are impacting businesses, Adster aids your search ad with a conversational layer on the ad. Users can directly click on the Search Ad, and they will be redirected to the chat section where they can have a conversation.

        The virtual sales agent answers their questions, thereby directly sharing an option of Buy Now and Payment thereafter. In this way, within a short period, you build brand value, recognition, aid product discovery, and drive revenue.

        All that you have heard about the Zero Moment of Truth is finally here.

        Forget building landing pages with content, graphics, and videos with CTA’s. With Conversational Search Ads – Adster, there is no need to collect data manually.

        The customer engages with the brand directly without multiple touchpoints. It builds a virtual environment with immersive and personalized experiences without having to click on the landing page – in turn reducing landing page bounce rates.

        The technology of Adster is patented, which allows it to dive into the user’s search intent and drive conversation accordingly. With this AI-driven mechanism, users can have a rich post-click experience without going through the hassle of reading landing page content.

        Moreover, Conversational Search Ads help advertisers connect with customers at their time and capture the zero moments of truth. Finally, it also collects the PII, shares rich media for conversation, and collects payment on their behalf with end-to-end encryption and data privacy.

        Re-Engagement in a Cookie-less World

        Adster’s conversational Search Ads offer marketers and brand owners the ability to re-engage and win back customers via cookieless device-based re-engagement.

        Through a well-crafted, context-relevant drip campaign, curated and personalized nudges can re-engage the user back into the buyer journey.

        For brands looking to improve lifetime value, these re-engagement nudges can create seamless and memorable post-purchase experiences, accelerating top-of-mind and loyalty.

        Video Synthesis Tech + Conversational AI = A Winning Formula

        Post-click experiences and personalization can further be amplified using Video Synthesis technology. Using Video Synthesis technologies, brands can communicate with their customers, using videos offering an immersive and personalized experience. 

        With Conversational AI and Video Synthesis, the buyers’ post-click experience can transform into a customized post-click journey.

        Imagine this: A user searches for a product – clicks on a search ad – interacts with a Virtual Sales Agent (Adster) and is delivered a personalized brand video using Video Synthesis technology.

        Through combining AdSter’s conversational search ads and re-engagement and Video synthesis – your brand re-engagement and retention can skyrocket to a whole new level.

        Depending on the user’s stage in the sales funnel, a personalized video delivered via a cookieless re-engagement can effectively fast-track a user along the funnel to closure, directly impacting your brand’s bottom funnel and conversion metrics.

        A recent example of this is the recently conducted #notjustacadbury ad campaign by Mondelez with Bollywood star Shahrukh Khan.

        Using Video Synthesis tech, Mondelez is enabling customers to create advertisements for their local stores. Using AI, Machine learning, and Video Synthesis, users can create a personalized video with SRK by giving details about their store and category and SRK recreates the personalized ad by repurposing this information.

        Transforming Sales Funnel

        Conversational Search Ads bring a dynamic change in the sales funnel as instead of multiple touchpoints, you reduce it to a bare minimum of one or two. The entire length of your sales funnel shortens, which results in quicker action and faster revenue generation. Sourcing emails and sharing multiple emailers to convert? The Conversational AI bot will do all of that and more – through seamless API integrations with your MarTech stack.

        To Conclude:

        Landing pages are beneficial for search ads, but if you are looking to deliver real-time personalized and immersive experiences, adding conversational search ads to your marketing arsenal will accelerate your conversion metrics and fast-track your sales funnel.

        Reduced bounce rates, lower customer acquisition costs, and cookieless personalized re-engagement are what you get with Adster Conversational Search Ads. Book a free demo with our experts to experience it yourself.

      4. Transformation in the BFSI Industry: Conversational AI Leading the Way

        Transformation in the BFSI Industry: Conversational AI Leading the Way

        The BFSI industry has always been a frontrunner in embracing the latest technology. However, just implementing Internet banking and fast transaction apps is not sufficient to create a lasting customer experience.

        Banks, Insurance, and fintech organizations are yet to provide top-notch instant solutions, and personalized and relevant experiences to enhance their customer-centricity. 

        Traditional banking procedures have swiftly become obsolete because of new governing laws, increased security threats due to fraud, and incremental pressure from consumers for better digital customer experiences.

        The implementation of Conversational AI in banking and finance can transform an operationally intensive service delivery model into an innovative and scalable model and help build self-service and hyper-personalized solutions for customers.

        The Importance of Conversational AI in the BFSI Industry

        A Conversational Banking platform combines chatbot technology with live in-app messaging technology, creating a dynamic self-service channel for customers to leverage when in need of assistance.

        This customer service strategy limits several touchpoints a customer must complete and bridges the gap between convenience and personalized customer service.

        With conversational banking, customers have access to 24/7 support, multilingual options, and more helpful answers to their questions. An effective conversational banking platform also connects multiple channels, systems, and CDPs to create a unified customer portal that helps financial institutions understand their customers better.

        Banks and Insurance players that have implemented successful conversational AI systems, report higher customer engagement metrics and more productive employees.

        BFSI companies may collect crucial data about customer objectives, intents, financial behavior, and wants as they grow and expand their conversational banking operation while informing the customers about tailored services and offerings.

        Banks can act strategically and enhance employee productivity by efficiently utilizing conversational interfaces. Conversational banking incorporates a hybrid approach to customer service, allowing representatives to focus more time on other business areas to make a more significant impact.

        Another critical benefit that conversational interfaces provide to financial and banking institutions is a significant decrease in customer churn rates. Most queries are resolved in less than two minutes using conversational AI. Thus, making customers happy and eliminating bottle-necked processes.

        The Changing Consumer Behavior in the Banking Industry

        The global banking industry has witnessed significant and considerable changes over the last few years. Due to the growing use of mobile devices and intensive development of IT, customer habits and preferences have shifted to digital channels. In reality, the presence of offline branches is no longer as significant a factor as it once was.

        Large banks highlight the development of RB (remote banking services) as one of the key priorities, meanwhile, several fully digital players have emerged. Consumers are diverting to mobile apps with the increased availability of mobile devices and remote banking.

        Some major BFSI organizations provide services that indicate a greater demand for personalization of services. Consumer expectations for service level, speed, flexibility, and personalization have increased. In today’s contemporary and technologically advanced world, customers expect BFSI companies to offer personalization and convenience just like they get from Amazon and Netflix.

        Multiple banks, fintech players, and financial institutions have successfully implemented Gen AI Agents to level up customer experiences, drive new acquisitions, and retain existing customers. Schedule a free demo with our experts if you want know how it can benefit your Banking business.

      5. Top 6 AI & Machine Learning Trends to look out for in 2025

        Top 6 AI & Machine Learning Trends to look out for in 2025

        AI and Machine Learning have been the hottest buzzwords in the decade that has gone by. According to a study, 77% of devices that we use in our day-to-day lives are now powered by AI and ML. From platforms like Netflix and Facebook to products like Amazon’s Alexa and Google Home, AI has become the core of nearly every product and service that we come across.

        In 2025, the enterprise world has also added to the capabilities of AI Agents, as they help build strong customer relationships and smooth business operations. No wonder Conversational AI has become a fascination of global businesses and SMEs alike.

        The AI-ML Industry is growing rapidly and unlocking new avenues for enterprises aiming to bring vital changes to the ecosystem. According to a Gartner study, around 37% of all companies reviewed were found utilizing some type of ML in their business.

        The Global Artificial Intelligence Hardware Market was valued at approximately USD 9.8 billion in 2019 and is pegged to grow with a healthy CAGR of more than 37.5% over the forecast period 2020-2027.

        So, as we begin a promising decade in the New Normal, it becomes important to know about the trends of AI-ML that might follow.

        Robotic Process Automation + Artificial Intelligence = Hyper-Automation

        Hyper-automation was identified by Gartner, as one of the best technology trends to be used in an organization for automation.

        The pandemic has stepped up the adoption of the concept that all the company’s operations should be automated including legacy business processes. AI and ML are the significant drivers of hyper-automation. If Robotic Process Automation (RPA), Machine Learning (ML), and Artificial Intelligence (AI) work in harmony to automate complex business processes, then hyper-automation is a means for real digital transformation.

        Power of Machine Learning (ML) + Internet of Things (IoT)

        Kevin Ashton is considered the father of IoT, which comprises a smart infrastructure connected via the internet to the cloud. The Internet of Things became a rapidly emerging segment in the last decade.

        Economic analyst Transforma Insights has forecasted that the worldwide IoT market will comprise 24.1 billion devices by 2030, producing $1.5 trillion in income.

        Arthur Samuel is the inventor of Machine Learning who defined this term in 1959. The utilization of Machine Learning is progressively interlaced with IoT. Machine Learning, Artificial Intelligence, and Deep Learning, for instance, are now being used to make IoT devices and services smarter and more secure.

        Augmented Reality in Chatbots

        Artificial Intelligence together with Augmented Reality (AR) is considered one of the main enablers of the Internet of Senses (IoS), a megatrend from 2021 toward 2030.

        Augmented Reality is quite a unique technology that actually takes customer engagement to a whole new level. AR and chatbots are two of the most promising e-commerce opportunities. Both solutions offer a wide range of applications that could help organizations become more successful while also keeping customers happy.

        Customers are already accustomed to conversing with chatbots about their questions whether in a store or on a website, so adding augmented reality would take things to the next level. When these two technologies are coupled, they open up a world of previously unexplored possibilities.

        Innovation in this regard is an app or website for the users where a smart cognitive chatbot leverages augmented reality to facilitate the purchase decision, prompting customers with relevant recommendations and new experiences.

        Uniqueness, personalized content, better and memorable customer experience are a few ways that chatbots and augmented reality can be used to make the customer’s purchasing experience more enjoyable and satisfying. For example, if you want to see how trousers would fit you, you can use AR technology to determine the correct size for you by simply uploading a picture of yourself.

        Reinforcement Learning

        Reinforcement Learning is the area of machine learning that can be used by companies in the future for deep learning, thereby improving the effectiveness of gathered data.

        An ideal illustration of reinforcement learning is a cognitive virtual assistant that addresses simple user queries like greetings, order bookings, and consultation calls and through reinforcement learning builds and improves on these interactions giving it the ability to address more complex user queries such as product demos and human-like conversations.

        Use of AI & ML in Business Forecasting & Analysis

        This technology is already being used by experts to screen a set of data over a period of time which then is examined and utilized for making smart decisions. With changing strategies, the ML networks can give conjectures with accuracy as high as 95%.

        We will soon see organizations blending recurrent neural networks for high fidelity forecasting.

        We are already witnessing the use of AI and ML to make smarter marketing and product decisions by capturing real-time insights into customer conversations.

        Increased adoption of hyper-personalized and contextual communication.

        We have all heard of the saying that Content is King. However, 2025 will bring in a change where we hear “Context is King”.

        With the adoption of AI & ML tools and methods – we will see brands and organizations increasingly adopt a more personalized and context-driven approach to communication.

        Augmented reality and chatbots, when correctly merged and deployed, might be extremely beneficial to many organizations, particularly in the retail industry. Proper implementation will result in a positive client experience on your online store, resulting in increased income for the company.

        Schedule a demo with our experts to know more about how you can achieve the same for your retail business.

      6. Top 10 Books to Read If You Want to Understand the World of Artificial Intelligence

        Top 10 Books to Read If You Want to Understand the World of Artificial Intelligence

        We are living in the golden age of Artificial Intelligence and Machine Learning and are seeing a multitude of applications in our everyday lives that have been touched by AI.

        This invariably gets us thinking – how does AI work? How can I understand the nuances of AI?

        Well, we put together a list of the top 10 books that you could read to improve your understanding of AI.

        Many works have been published in the last two years that provide in-depth knowledge of the underlying concepts, technological methods, and applications of artificial intelligence. This list features books written by well-known computer scientists and practitioners who work in the AI field.

        Whether you’re an AI/ML researcher, engineer, or business professional, you’re sure to discover a few fascinating books to add to your reading list this year.

        1. Driven: The Race to Create the Autonomous Car – by Alex Davies

        According to the “great man” theory, history is mostly shaped by heroes—big, brawny, brainy males (always dudes) who use brute power and intellect to create the future. Alex Davies, a WIRED graduate, has written a new book that debunks that old assumption. Davies delves into the history of self-driving cars and the zany, energetic ensemble of characters (still mainly males) who are attempting to bring the technology to fruition in Driven. As Davies explains, the dream can only be realized with the help of others. Until it doesn’t, that is. Then the lawsuits—and, in the instance of one engineer, handcuffs—fly.

        Robot cars may one day transform how we live in the modern world. By 2050, autonomous vehicles might be worth $7 trillion, and multibillion-dollar corporations like Alphabet, GM, Ford, and Tesla are racing to iron out the wrinkles. AVs, on the other hand, were a scholarly curiosity around the turn of the century.

        Then, in 2001, an obscure language in a financing bill directed government funds to the development of robot technology.

        (A tip: keep an eye out for the native tortoises, who will pee on you if you try to relocate them when racing a robot across the desert.) This is a book for anyone who is tired with hero stories and wants to discover how the business of producing world-shaking robots really works.

        2. If Then: How the Simulmatics Corporation Invented the Future – by Jill Lepore

        Quick Quiz: Who was the first presidential contender to win a contested election by using computational modeling of the American electorate? You’re 56 years late if you said, Donald Trump.

        The year was 1960, and John F. Kennedy had hired a little-known company named the Simulmatics Corporation to survey American voters, forecast their behavior, and provide campaign counsel using its groundbreaking “people machine.” Jill Lepore examines the early days of algorithmic behavior modeling and its eventual influence on politics and society in her history of Simulmatics (“the A-bomb of the social sciences,” a “Cold War Cambridge Analytica”).

        Her portrayal of the 1960s acts as a mirror for 2020: America is in the midst of a racial justice revolt, a technical weapons race with its geopolitical adversary, and an election molded by technological influence. If one replaced “Simulmatics” with “Facebook” on any given page, the storyline would almost make sense. If Then tells the narrative of technology’s forefathers, whose work gave rise to the “people predictors” that shaped contemporary democracy and paved the way for today’s Silicon Valley behemoths.

        3. Rebooting AI (2019) – by Gary Marcus and Ernest Davis

        New York University professors Gary Marcus and Ernest Davis illustrate the technological and theoretical differences between successful AI that is confined by a set of rules (or a defined environment) and successful AI that can effectively engage with the complexity and nuances of an open world. This book is for researchers and businesspeople who wish to make concrete forecasts about AI’s near-term future. Ernest Davis is a Professor of Computer Science and Gary Marcus is a Professor of Psychology and Neural Science and the CEO of Robust.AI. This book, according to Noam Chomsky, is “lucid and highly knowledgeable, from a critical but sympathetic standpoint.

        4. Applied Artificial Intelligence: A Handbook for Business Leaders – by Mariya Yao, Adelyn Zhou, Marlene Jia

        For many, the commercial application of AI remains a baffling concept; however, Mariya, Adelyn, and Marlene lay down both the technical and business aspects of AI for individuals working in the field as well as those with a passing interest. This book is not an overabundance of technical material that many people will struggle to comprehend, but rather a step-by-step guide to identifying opportunities, assembling a diverse team, and conducting strategic experiments in the field, with all the information you’ll need.

        5. Prediction Machines: The Simple Economics of Artificial Intelligence – by Ajay Agrawal, Joshua Gans & Avi Goldfarb

        This 250-page primer on AI and Machines tackles the most common questions a newcomer to the business could have. Prediction Machines is an easy-to-understand book that checks all the boxes when it comes to demystifying the nature of AI and how it affects the economy today. Prediction Machines’ applicability and adoption at many levels of the economy will only improve as they become more common and inexpensive. If you want to understand how the employment market will change in the coming months and what management skills you should have to deal with the disruptions, this AI book could be a must-read for C-suite executives. The assessment is based on the present AI owners’ and users’ decision-making abilities.

        6. The Fourth Age: Smart Robots, Conscious Computers, and the Future of Humanity- by Byron Reese

        The three key discoveries that eternally transformed civilization are fire, agriculture, and the wheel. Setting this theory in action, author Byron Reese compares AI to the Industrial Revolution, citing numerous examples of AI’s involvement in changing the curve. Byron is the founder and CEO of Gigaom.

        In this fascinating, essential, and accessible exploration of the coming advances in robotics, computing, and related technologies from the publisher, of one of the world’s most popular technology news websites, Gigaom.com, learn about the next stage of humanity’s evolution—the age of artificial intelligence.

        Byron Reese, says we’re developing robots that can perform human-like tasks. We’re working on creating computers that might be able to think for themselves. We’re probably on the verge of developing a new life form: a conscious computer to which we could delegate our thinking minds, together with a companion robot to execute our bodily functions. Reese tackles the impending technological revolution and its species-changing repercussions in enthralling and accessible language.

        He aids us in comprehending both the practical and existential implications of this brave new world, resulting in a full description of what it means to be human.

        7. Life 3.0 Being Human in the Age of Artificial Intelligence – by Max Tegmark

        We are at the start of a new age, as Max predicted three years ago. Science Fiction, which was formerly just considered fiction, is rapidly becoming a reality. Over nearly 400 pages of information, the MIT professor, whose work has aided mainstream study on how to keep AI positive, separates myths from facts, utopias from dystopias, to investigate the next chapter of our lives. Are artificial intelligence systems safe? How can we expand it without robbing people of their sense of purpose? Should we be concerned about an autonomous weapons arms race? All of this and more is covered by Max.

        8.Machine Learning Yearning – by Andrew Ng

        Andrew Ng’s free e-book will show you how to best structure your Machine Learning projects. Andrew covers everything from ML system issue diagnosis to mismatched training sets, end-to-end learning, and transfer learning. For years, it has been suggested that the best way to make strategic decisions in Machine Learning is to enroll in a program/course where you will have direct contact with a mentor; however, this e-book eliminates the middleman in assisting you on your journey to becoming an educated individual in all things Machine Learning.

        9. AI Superpowers: China, Silicon Valley, and the New World Order – by Kai-Fu Lee

        This AI book was written by Kaifu Lee. AI Superpowers, a best-seller in the American market, naturally brings up the Chinese and AI white-collar sectors.

        “PricewaterhouseCoopers believes that AI implementation will boost global GDP by $15.7 trillion by 2030. China is expected to take home $7 trillion of the total, roughly double the $3.7 trillion gained by North America.”: Kai-Fu Lee

        Kai-Fu Lee, a former Google China CEO, and AI entrepreneur, has extensive first-hand knowledge of the Chinese AI movement. The book on AI covers the four waves of AI and the ongoing struggle for AI supremacy as well as the future of workplace automation:

        • Internet AI
        • Enterprise/Business AI
        • Perception AI
        • Autonomous AI

        10. Data Mining: Practical Machine Learning Tools and Techniques – by Ian Witten, Eibe Frank, Mark Hall, and Christopher Pal

        This book meets every expectation that you may have from a book on AI.

        Data Mining: Practical Machine Learning Tools and Techniques is a handy book on data mining and analytics whether you’re taking a course in Python, Big Data Analytics, or SAS Analytics. It describes how Machine Learning algorithms operate for data mining and performance enhancement workflow. This book is presently accessible in English, as well as Chinese, German, and Korean translations. Based on customer feedback, we believe the writers are true experts in the field of Data Mining and Machine Learning, and that they have successfully communicated their expertise to readers by including authoritative presentations of modern data mining techniques.

        These books will be valuable to anyone who has developed a career around AI and ML for progressing through the field and grasping some of the most sophisticated, practical, and pressing concerns that the field faces. These books are excellent resources for anyone looking to improve their technical abilities, productivity, or knowledge of the subject. Every week, a slew of new books on comparable subjects are produced and released.

      7. Top Five Ways to Fast Track Sales Cycles Using Instant &; Relevant Conversations

        Top Five Ways to Fast Track Sales Cycles Using Instant &; Relevant Conversations

        Companies have varied sales cycles depending upon their target market and audience base. Every business team out there has one common intention of closing deals faster and one of the best ways to fast-track this is by implementing Conversational AI for your sales cycle.

        CX automation entails employing tools that replicate human cognition capability such as problem-solving and logical reasoning, to reduce manual labor in support processes. It involves identifying repetitive tasks across customer engagement cycles and automating them with the help of tools such as AI-powered chatbots, voice bots, and live chat.

        There’s a difference between conversational AI and mere chatbots. Conversational AI is designed in such a way that it can actually recognize the conversation flow as well as human cognition. It optimizes the entire process of lead generation and helps you better understand your existing and potential customers.

        What is the Relationship Between the Sales Cycle & Conversational AI?

        The sales cycle refers to a repeatable and tactical process followed by the sales teams to convert leads into customers and minimizing time-consuming repetitions falls right in the domain of automation. Conversational AI helps you acquire more customers in a shorter period of time. It substantially helps convert the leads into actual sales. 

        Here are the top five ways to fast-track the sales cycle using conversation:

        We’ve listed how conversational AI boosts the sales cycle and facilitates B2B and B2C communication.

        1. Lead Generation:

        Lead generation is a key task every business has to perform. That is the reason lead generation is highly significant when it comes to businesses. Lead generation can be done in a better way using conversational AI. Manually generating the leads involves a lengthy process ranging from cold phone calls to online forms and despite all the efforts, it doesn’t guarantee that substantial leads will be generated.

        Whereas, using conversational AI lead generation is quicker, easier, and precise. A Conversational AI system communicates with customers via human-like conversations, smoothly asks them about their preferences, and allows users to self-serve contact information along with these preferences. The data is recorded in real-time and is sent to the CRM segregated.

        2. Automatic Lead Scoring & Qualification:

        Spending time on leads that are not interested or relevant leads is a sure shot way of slow sales cycles.

        It becomes crucial that leads are scored on the basis of relevance, interest levels, product fit, demographics, budget, and other product-specific factors.

        Conversational AI facilitates the automated scoring of leads as per relevance and multiple conversational triggers such as depth of conversation, sentiment, and intent.

        Once the leads are qualified, conversational AI can also move them further down the sales funnel by answering any questions they may have about the product and sending them hyper-personalized offers.

        In the case of high-value sales, qualified leads are handed over to sales reps with complete context – helping them close the sale.

        3. Behavioural & Preference-based Retargeting:

        Conversational AI uses NLP, machine learning, and AI-trained models to interact with customers and potential clients. This includes observing and learning from the behavioral and conversational patterns of customers.

        This enables chatbots to retarget and nudge prospective customers who are stuck in the middle of the purchasing funnel, resulting in the creation of new opportunities without extra human effort.

        Conversational AI re-engages with customers, provides context-relevant information, and guides them to closure in the most optimal manner – automated.

        This saves your sales time and effort – helping them focus on the most warm leads by jumping into the conversation at the perfect time.

        4. Response Time Optimization:

        No customer or prospect likes to wait. As per the latest research trends – 35-50% of sales go to brands that respond first. Web leads are 9 times more likely to convert if you follow up within 5 minutes.

        Conversational AI allows your brand to create instant and immediate experiences for your prospects. You can stay in touch with the audience 24/7.

        Conversational AI also has the ability to handle multiple customers simultaneously through even some of the most complex use cases. This helps you be there for the audience when they need you most and when the purchase intent is at its highest.

        5. Conversational Commerce:

        The popularity of social media and messaging channels is increasing each passing day. This highlights the need for businesses to be readily available on their customers’ most preferred platforms. That’s where conversational AI comes into the picture.

        Conversational commerce is the process of conducting business over messaging apps like WhatsApp, Facebook Messenger, Instagram, and more. It enables companies to meet customers where they are and drive up to four times more conversions by creating relevant conversational experiences.

        To Conclude:

        The world of customer communications is evolving at a faster pace than ever before. Your business needs to be accessible to your customers at the most relevant points in their purchase journey.

        A well-integrated conversational sales augmentation system like Convert AI can fast-track your sales cycle with intuitive human-like conversations and empathy. Schedule a free demo with our experts to experience it yourself.

        1. How Consumer Durable Brands are Driving Increased Sales Using Conversational Channels

          How Consumer Durable Brands are Driving Increased Sales Using Conversational Channels

          The arrival of conversational AI to the consumer products industry opens new possibilities for the final consumers. Today, the consumer durables industry thrives because of three major innovations: advanced analytics with insights to support the decision-making process; autonomous business processes, eliminating manual processes to achieve faster time to market; and AI-powered immersive, conversational, and continuous interfaces that help deliver a ‘wow’ experience and gain more involvement from the user. 

          Conversational AI focuses on three fundamental pillars to help the consumer durables industry: employees, companies, and final customers. Conversational AI solutions create direct dialogs through convenient channels without friction, at an affordable cost, with a 24×7 service.

          Consumers’ constantly demand for better, personalized experiences has led to innovation across various products. Apart from being affordable and solving day-to-day problems, Conversational AI can capture the users’ attention and provide a delightful experience.

          Consumer Durables Industry in Revolutionizing

          The modern-day buyers’ unique decision journeys and preferences sort into distinct consumer segments, with different characteristics of each segment. Brands must use Conversational AI as they plan marketing spending, messaging, and positioning. Conversational AI helps brands grasp online behavioral nuances of each segment’s buying patterns and the information and influencers it relies on to target segments through relevant channels and messages.

          Brands need to grasp what motivates consumers to consider a purchase since the trigger point determines whether a brand makes it to the initial consideration stage. Using Conversational AI and conversational analytics to understand the preferences and sentiments of multiple demographics helps a brand position itself appropriately in the consumer’s mind.

          With loyalty not guaranteed in today’s market. Consumers tended to shop around rather than automatically choosing the same brand from one purchase to another. This suggests that marketers need to fine-tune their understanding of consumers in each segment, and what triggers them to shop by employing innovative tools like Conversational AI.

          It is also, during the post-purchase experience, that marketers must continue to highlight quality and service or offer rewards to the most loyal customers. It is easier to lose customers than to add new ones in today’s environment. Hence, spending disproportionate marketing money on loyalty can prove risky. Usually, the persuasive information in the durable consumer business includes brands, price, warranty, product features, after-sales service, offers or special promotions, availability, and user reviews.

          Marketing in the Shopping-driven World

          Before the digital era, every communication with customers included a variable media cost that usually surpassed the fixed expenses of creatives. Thus, management began focussing on ‘working media spend’, which is part of the marketing budget to what today is known as paid media. Today, marketers must also consider “owned media”-the channels they control, such as websites and “earned media,” created by customers such as communities of brand enthusiasts.

          During the functional evaluation, consumer behavior is greatly influenced by past experience with the product or service. Conversational AI can boost consumer awareness of their brand’s products and services through significant media or social channels, motivating consumers to learn more about them. Conversational AI can provide creative interactions that convey a fuller picture of the brand’s value and is an excellent approach to moving beyond simple awareness to real brand consideration.

          In the consumer-durables sector, buyers tend to purchase a brand in their initial consideration set. But marketers who understand customer motivation can use Conversational AI along the entire consumer decision journey to influence final purchase decisions.

          6 Ways Conversational AI Can Influence the Buyer Journey

          Brands increasingly focus on becoming more customer-centric and elevating customer experience to improve customer satisfaction, loyalty, and lifetime value. Companies that supply high-value and complex consumer durables face unique challenges.

          Ease of access to relevant knowledge:

          Conversational AI offers easy access to an integrated knowledge base with support that will help reduce the cost of information delivery and help customers find faster, and more relevant products and answers round the clock.

          Modern-day customers want seamless and unified integration, rather than being passed off to different departments. Centralized access to all knowledge sources, including registrations, product configuration, service plan entitlements, support queries, inspections, warranty & warranty claims, service orders, and service campaigns, will help customers solve their issues in no time. It will help reduce the cost of support systems and provide a complete picture of all customer support needs. It will also leverage enterprise-wide resources to provide a consistent and seamless customer service experience.

          In instances where the customer demand is too complex for the Conversational AI to solve. In that case, it can escalate the issue to human agents with complete context of previous conversations – who can resolve the issue and add a new technical solution to the knowledge library, making it an invaluable asset over time.

          Go Omnichannel & Digital:

          Calling to wait in line and navigate the maze of multiple IVR options. In today’s world, brands must provide consistent support and service across multiple channels, including the web, mobile, messaging channels, and email.

          Conversational AI lowers the overall costs for companies to create an omnichannel digital experience and is preferred by most customers because of ease of access, time savings, and convenience.

          Use of Conversational AI to Improve Online Sales Performance

          Conversational AI can help by analyzing customer support data to improve product quality and operational performance. 

          Through customer conversations, brands can gain a deep insight into softer customer aspects such as color preferences, evaluation criteria, other brands etc and reposition and realign their product offerings in real time. These insights are called conversational analytics – and you can view more about these here.  

          Further – brands can use insights gained from support data to improve their products and services by helping to fix the problems at the source. Repeat issues can be prevented by using support data to identify emerging quality concerns early and implement necessary actions. 

          The study of customer complaints and their feedback also helps identify and fix operational performance issues within the company or channel partners.

          Boost Customer Engagement:

          Brands can leverage Conversational AI for push notifications across multiple popular consumer-facing channels to provide proactive alerts, announcements, and timely information.

          Conversational AI can be made available on multiple channels, such as mobile phones, web, IVR, smart speakers, or even smartwatches, making it device/technology-agnostic. This will keep your customers engaged and improve their perceptions of responsiveness.

          Additional revenue generation options can be generated by maintaining customer contact information accurately, registering their products, and offering related services, accessories, and other complementary products.

          Customer loyalty, referrals, and advocacy arise from engaged customers.

          Enable Self-Service for Customers:

          Conversational AI enables customers to find answers to support inquiries fast and anytime by providing accessible and intuitive self-service options on various channels. As most customers prefer self-service, companies have the opportunity to minimize their call volume.

          As mobile devices have become the primary communication channel, having a Conversational AI-powered mobile application or a mobile-friendly responsive website allows your customers to access the information they require on any device quickly, with the help of an intuitive conversational experience.

          Convert Conversations into Revenue:

          The Conversational AI interface uses a machine-learning algorithm and Natural language processing to make sense of buyer queries.

          It then uses metas and API calls to pull up the right product that suits the customer, helping turn automated chats into new revenue. A revenue acceleration sales agent like Convert AI, constantly nudges the customer towards purchase by proactively prompting and guiding the user on the most optimal path along the buyer journey.

          The Bottom Line:

          Incorporating Conversational AI with consumer goods enables simpler and more direct shopping for producers and consumers. This allows consumers to spend more time doing (and finding) what they want, as they want.

          Companies can leverage these innovations to contend with increasingly value-conscious and tech-savvy consumers. As increasing numbers of consumers depend on using digital and mobile devices to shop, many consumer goods companies invest in existing and emerging technologies to better understand, connect, and engage with consumers.

          Schedule a demo with our experts to know how we can help you leverage Gen-AI, offering you a competitive advantage in this crowded market.