10 Ways AI and Chatbots Reduce Business Risks

Intelligent virtual assistants have gained a lot of prominence in the business world since they were reintroduced by major platforms such as Facebook. The potential of chatbots have already changed the way companies communicate with their audiences.

1. Provide around-the-clock customer service

As a consumer, there’s nothing more frustrating than having to contact a product or service provider outside of working hours. Instead of setting up an automated response, you can incorporate a chatbot that helps your current and future customers when you aren’t available.

2. Help sort through high-request volumes.

Chatbots work as a filter that helps you organize and sort through the numerous requests you receive. They can help you send requests to the appropriate department, carry out requested tasks, and even generate a personalized response for the clients.

3. Analyze trends in Big Data.

AI-powered chatbots can help you categorize and interpret big data. They can help highlight important patterns and trends you can use to enhance your products and develop better solutions that add value to your services.

4. Targeted sales and marketing campaigns.

Big data analysis can help with a number of departments. That being said, your sales and marketing departments can use the information gathered through big data analysis to create tailored campaigns and strategies. These campaigns can result in significant improvements in both closing rates and marketing qualified lead generation, exponentially growing your company at the same time.

5. Predictive analytics

Once you set up a reliable sales and marketing machine, you’ll be able to use predictive analytics to plan ahead. Once you’ve built your sales funnel through your chatbot, you’ll be able to predict sales and calculate how much money you make on monthly basis. You can use this information to develop future budgets to give you a more realistic idea of your growth rate down the line.

6. Overall improved productivity

If you implement a chatbot that’s integrated to all of your major work tools, you’ll create a seamless experience that gives you back a lot of your time. We spend a huge amount of time replying to emails, verifying information, and sending responses. Chatbots can help you filter these communications, answer the ones that don’t need your input, and let you invest your time into revenue-generating activities instead.

7. Better interdepartmental communication

Accepted business models often feature a clear separation between departments. Because of this, many of these different areas have trouble establishing effective communication lines. Bots can help solve this by working as a centralized point of contact where workers in different departments can communicate and collaborate without having to break the multi departmental mold.

8. Potential assessment

Bots can also help you assess and analyze your internal operations to identify areas of improvement. Besides gathering data and crunching numbers, they can ask employees for their opinions and present feedback to key decision makers within your company.

9. B2B applications

Companies that do business directly with other organizations can use chatbots as B2B applications that help cultivate a strong relationship with their clients. These bots can help provide information, assist during the sales process, or specialize in setting appointments with the right employees.

10. Talent management

Talent risk management has recently gained prominence in the executive world, and bots can assist during the recruiting and knowledge transfer stages. This will simultaneously lower employee stress levels and mitigate unforeseen talent loss.

Finally…

Chatbots are powerful tools that can carry out an array of actions, leaving a positive impact on enterprises. It is time to implement a chatbot into your organization and to reduce business risks across the board!