Debunking myths about AI

Only 7% of companies don’t use AI, but are looking into it (SEMrush). 

This means that 93% of businesses utilize AI in one way or another to enable business growth. To adapt lucrative and sustainable strategies, AI has a critical role in not just critical decision-making processes but also in most routine activities. For example, with utilities like automated marketing tasks, real-time dashboards, and data warehousing, business intelligence has enhanced like never before.

AI is used in the business world to simulate human thinking and behaviour. Various expert systems such as virtual reality, neural networks, and intelligent agents are used to generate business value. However, one critical thing to notice is how many businesses are hesitant to adopt AI in their business processes. While only 7% of companies do not use AI, it is still a huge number, and worrying at that.

Some probable factors could be –

• Staff skills are insufficient
• Fear of the unknown is always a deterrent
• The starting point is rather unclear

Most of these challenges stop businesses from adopting the rather popular and successful digital transformational journey. But today, we are here to understand AI and bust popular myths that stop businesses from understanding the true potential.

What is Conversational AI?

Conversational Artificial intelligence (AI) refers to the simulation of human intelligence in machines programmed to think like humans and mimic their actions. By exhibiting the traits associated with a human mind, AI empowers machines to learn, make conversations, predict, and problem-solve. By rationalizing and taking actions, conversational AI helps humans reach their business goals with efficiency and effectiveness. Subsets of AI include machine learning (computers can learn and adapt without human intervention) and deep learning (automatic learning via absorption of vast unstructured data in any form or format).

Five myths of AI and the truth

While it is an accepted fact that conversational AI can only help businesses grow, many businesses are still hesitant to embrace this journey with open arms. Understanding the myths and debunking them with the correct information will help businesses welcome AI with the right mindset.

Myth: AI is optional

Reality: AI is a must

Logic: In a world where Artificial Intelligence has dominated business strategies and transformed the way they function, businesses that do not embrace it will be the ones left behind. Conversational AI is not just a nice-to-have option but a must-have in any business. Customers are also leaning towards those businesses that have adopted an AI-based approach.

Myth: AI is going to snatch jobs.

Reality: AI will change existing jobs and create new ones.

Logic: By transforming the way things are done and bringing efficiency and speed into the equation, business processes are empowered to become bigger, better, and more agile. In this scenario, conversational AI tools like chatbots execute mundane activities and leave human skills to concentrate on more complex jobs.

Myth: I have no idea what AI is doing and whether I can trust it.

Reality: AI is much more transparent and hence trustworthy.

Logic: You do not have to be an expert in coding and technology to understand how AI works. With the right vendor/partner, you can bring emerging technologies into your overall business strategy and create an efficient workflow.

Myth: AI cannot be embraced by all domains and industries

Reality: There is no limit to who can adopt AI

Logic: Conversational AI is not restricted to only those businesses that work in the IT industry. Be it retail, healthcare, e-commerce, or the hospitality industry, conversational AI is a major game changer.

Chatbots: make Customers, not just Sales

The chatbot is a perfect example of how conversational AI can find its way into any business and industry. In its various shapes and formats, conversational AI enhances the ability of the customer care department to improve the experience of both visitors and long-term customers. By facilitating real-time interactions with instant information, this is a powerful tool for those departments that are unable to handle the overt number of customer calls. Busy call centers, tied-up phone lines, and emails landing in the spam box are some of the reasons why handling customer service is not an easy job. However, with chatbots powered by Artificial Intelligence, businesses can make their customer care solutions seamless, thereby acquiring new customers and increasing customer loyalty.

AI-powered chatbots analyze colossal amounts of data in a short period of time using predictive analytics. This results in real-time and actionable insights that will drive further conversations between the customer and the brand.

Some reasons why chatbots are an ideal solution:

• Bots can be installed with ease.
• Bots are purpose-specific and can thus save both time and money.
• Chatbots are all-pervasive, user-friendly and offer 24/7 availability.

Our solution

Build conversational experiences and messaging workflows for commerce, marketing and support with Gupshup. Engage better through Conversational Messaging and convert your existing messaging workflows into rich conversational experiences. Gupshup’s industry-leading tools combined with its experienced experts lead to great results for you. Our team can convert your vision into a well-developed bot suited to your specific requirement in a matter of days / weeks. Build once, run anywhere. Deploy your bot on 30+ messaging channels including WhatsApp, Signal, Facebook Messenger etc.

#LetsGupshup to know more!