The Rise of the AI Chatbot

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First Thing’s First. What’s An AI Chatbot? 

While it might sound like something made of metal and a monotoned voice box, an AI chatbot is the result of advanced computer programming that has been decades in the making. Short for Artificial Intelligence Chatterbot, an AI chatbot is a computer program that simulates authentic human interaction and conversation.  

While this may seem simple enough in theory, teams have spent decades trying to build a computer system capable of hosting an authentic, human-like conversation. The chatbots at our fingertips today are what Sci-Fi filmmakers of the past century could have only ever dreamt of. From Star Wars to the Matrix, AI movies of past decades are no longer exploring the future.  

That future is here. 

Ok, but how does it work? 

The secret lies in something called natural language processing (NLP) which works using voice commands, text chats, or a mixture of both. We will not get too deep into the science and tech-talk of it all, but just know that chatbots can understand not just the words they read or hear, but the intent behind them. And they only get more intelligent with time.  

AI is fast becoming an integral part of our day-to-day lives, which goes beyond asking Siri if we should pack an umbrella today. What if you could transform your business in the same way, leveraging the incredible power of AI empowered chatbot technology to elevate your operations? 

Now, you can. 

The Chatbot Maturity Scale

From Mere Chatbot to Interactive Virtual Assistant 

It is important to note that not all chatbots are created equal, and the one you will need for your business heavily depends on how you want to use it. In that sense, there is a significant difference between a rule-based chatbot and an AI-based chatbot. The prior uses specific keywords to respond using a pre-determined set of follow-up questions and answers.  

Let us say you are trying to access department-specific information from your chatbot. If you ask for the “Supplier Contact List”, for example, that is an easy one for a rule-based chatbot, because there is no room for interpretation (or misinterpretation…) on the bot’s side.  

That is If there are not any typos or data duplication, that is. 

For example, your bot will not know how to answer, “last week’s stat sheet,” or “what time is the delivery”. Your business needs every staff member to be able to access accurate answers – fast – and bots must be able to cut through cryptic spelling errors and still give an answer. What is more, given that answers are pre-set, interaction with such a chatbot often feels robotic and less like a conversation, which can make your organization seem less relatable, accessible, and most importantly – human.  

For example, if you need to ask the bot to “show me my category volume for the last 2 weeks in drug channel”, then not only will it know to interpret MY category (user specific), but it will calculate the period of the last two weeks from today. Content becomes dynamic and will depend on the user’s query, whereas with a rule-based bot, content is always static. 

The AI-Based Chatbot Difference 

In contrast, an AI-based chatbot tries to understand and interpret what its conversation partner genuinely wants. These kinds of chatbots are always learning, and the more they interact with people, the more they learn – and the better they can respond. Think of an AI-based chatbot as your most ambitious and eager employee, one that needs no caffeine or sleep to keep the conversation going with your customers around the clock.  

Again, that’s where NLP comes in, paving the way for an intuitive NLP-based chatbot that adapts to each individual user’s requirements, speech patterns, and habits. An AI chatbot speaks more naturally and makes the entire interaction more human-like. 

The advanced technology that is self-learning AI has paved the way for intelligent chatbots that function as AI virtual assistants like Siri, Bixby, Google Assistant, and Cortana. Household names like these have cemented their presence in mainstream society, so much so that many people cannot function without them. Dare we say there is a sense of “Her” companionship in the mix, Joaquin Phoenix? 

From 10 minutes to 60 Seconds 

How Our AI-Chatbot Can Save Time, Effort, and Sanity 

At Revenue AI, we are obsessed with innovation and the potential of NLP-based chatbot technology. By combining machine learning algorithms with AI-powered solutions, we believe that we can elevate revenue managers’ productivity and efficiency – for the better – forever. But this is more than your average virtual assistant – it is a powerful enterprise chatbot solution that can (and will) transform the revenue growth management world forever. 

In fact, it already has.  

Why Revenue AI? 

Stay In-The-Know: Revenue AI has the unique ability to monitor your and your competitor’s data in real-time and then alert and provide all relevant team members with actionable intelligence. This type of understanding would otherwise require years on the job! 

Farewell, Human Error: With people, the chain of workflow is often held up by human error and the need for person-to-person handover and information exchanges. In contrast, the learning nature of Revenue AI minimizes the impact of workflow turnover by passing on skills and experience to any future employees. Focus on the important parts of your job that only you can perform, and confidently leave the more routine day-to-day tasks in the (artificial) hands of your AI assistant. But even so, you are still in control. 

Compatibility: Our Intelligent Assistant works across multiple platforms, from desktops to mobile devices, so you can access information that is up to date at any time.  

Using our AI assistant can speed up business functions and information access by up to ten times. The ability to understand business requests and provide fast access to information truly sets Revenue AI’s Intelligent Assistant apart from any other. 

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The Future Is Now, And It is Ready to Chat

Step Into the Future with Revenue AI 

An NLP-based chatbot can be just the thing to tip the scales in your business’s favor. If you hold efficiency and productivity in high regard, then Revenue AI is just what you need to add value to your business. Fast access to real-time data and reports will help you stay one step ahead of the competition with ease, perform mundane tasks, digitalize customer service interactions, and enhance your product and service offering to boot. Put your time and efforts where they need to be – strategic thinking and innovation – and allow Revenue AI’s Intelligent Assistant to do the rest. 

‘70s Sci-Fi filmmakers would be so proud. 

 

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