Conversational artificial intelligence (AI) solutions are emerging as the new front door for customer service, transforming the way customers first connect with companies, and more importantly, what happens next.

Whether today or 20 years ago, great customer experiences often come down to one simple thing: solving a customer’s problem, quickly. Thanks to today’s innovative conversational AI solutions, customer service—including the process of calling customer support, identifying the issue, and taking the right actions to get resolution—is happening faster than ever. Without the usual frustrations, such as long hold times, call transfers, or repeating information.

A recent International Banker article looked at the latest trends in AI, and how the technology is not only enabling new and exciting customer-facing applications, but also benefiting employees.

Following some initial customer backlash due to ineffective chat bot implementations, today’s conversational bots backed by natural language processing technology are raising the bar for customer self-service and quickly solving customer problems.

According to the article, effective conversational AI implementations require the following two elements for success:

  1. Conversational Interface: By moving beyond searching websites or pressing numbers on your mobile phone to find the right answer, conversational interfaces are quickly emerging as an effective way to enable a “convenient and often faster user experience.” Conversational interfaces can use text, but are increasingly being powered by natural language voice interfaces that are driven by speech applications.
  2. Automation: While conversational interfaces have been in use for years, solving customer problems with them alone still requires a high level of human involvement. To overcome this, automation must be a critical part of the conversational AI mix, helping offload common or simple tasks with self-service, while allowing agents to focus on more complex, higher value interactions.

Now that you know that recipe for conversational AI success, take a look at the various types and some use cases to learn what the technology can do for you:

  • Tell Me – Basic Queries: Designed to automate answers to basic questions, use cases include self-service FAQs and knowledge bases, as well as basic account enquiries.
  • Do it For Me: With a focus on getting specific processes done, use cases typically focus on account on-boarding, transaction initiation, payments, and basic task optimization.
  • Tell Me – Data Analytics: Intended to deliver greater business intelligence to make smarter decisions, use cases include data visualization, report generation and predictive modeling, including sales forecasting and proactive customer service.
  • Advise Me: With the goal of getting people to take action, use cases include product recommendations, action item alerts, and sophisticated task optimization.

If you’d like to learn more, including more on employee-facing applications and how to make the business case for investment, read the complete International Banker article.