Posted by Bethany Frank on 11 Jul 2017
“We don’t talk anymore” - a worldwide pop hit, dreaded phrase in romance, and an apt metaphor for communication in the 21st century. Human attention spans are shorter than ever, and whether it’s because they are on the go, at work, or simply glued to their social media feeds, consumers just don’t have much patience anymore.
Technology is largely fueling a breakdown in the act of communication itself, a process which up until now only became more complex as it evolved. Current messaging trends show a sharp departure from the “old days” of lengthy written communication - today’s consumers prefer quick, colloquial interactions instead.
Furthermore, consumers spend upwards of five hours per day on mobile devices, and about one-third of their time is spent in social media and messaging apps. These apps have hundreds of millions of monthly active users, and consumers are willing to use them to do much more than just message their friends. Businesses need to adapt by integrating their services into these popular platforms and utilizing them to increase customer engagement.
AI-based conversational assistants (sometimes referred to as chatbots) are computer programs that simulate human conversation. Armed with machine learning capabilities, they become more intelligent over time by analyzing conversations and applying the “knowledge” to make customer interactions better.
The technology allows businesses to offer a seamless, personalized, and context-aware user experience on the digital platforms consumers use most. With conversational interfaces, customers can get quick answers to FAQs, chat their way through bill payments, and more. As messaging apps and virtual assistants become more popular, consumer demand for better service on these platforms is likely to increase as well.
The ideal user experience is frictionless. Virtual assistants, virtual reality, and the like are creating entire new ecosystems in which businesses can better engage their customers. As conversational AI evolves, the opportunities for businesses to harness the technology to further enhance the customer experience will continue to expand as well.
Learn about conversational AI for your business: Meet Ella.
08 Sep 2017 Blog What We've Been Reading: New Players in Mobile Payments and More A look at we've been reading about payments and financial technology.