How does AI power conversational commerce?

Conversational AI is the technology that enables machines to interact with humans via language.

It’s a subset of Artificial Intelligence and leverages concepts like machine learning and neural networks.

Virtual assistants like Siri and Alexa are some successful productions of conversational AI.

The difference between a conversational AI and a chatbot is simple:  Conversational AI is used to build chatbots. Chatbots are only one channel.

However, companies can utilise conversational AI in different media, spoken or written, bringing natural flavour to the ‘machine’ interaction.

Amidst rapidly growing competition in the e-commerce market, this could very well be the factor that sets apart a brand.

Additionally, cross-selling and upselling become more appealing to the buyer.

More and more brands recognise that they can leverage automation capabilities to design workflows.

One successful example would be HSBC’s use of conversational AI from last year onwards during its digital transformation.

They can instantly access it while engaging with a chatbot and also get to know the risk factors involved.

Thus, AI ensures a heightened level of accuracy by furnishing more metrics for the client’s reference.