Conversational AI: Indispensable way to attract and retain customers

Main Article Content

Nikitha N R

Abstract

Conversational AI is a technology that allows artificial intelligence (AI) systems such as Chatbots to engage with people in a human like manner. It enables communication between humans and computers easy and natural by bridging the gap between human and computer language. Recent industry reports indicate that more than 80% of all businesses are considering integrating chatbots within the next five years. Many service providers are already using chatbots, but most applications have focused on cost saving and automation to partially replace human service encounters. However, little is known about the mechanisms and the process of value co-creation enabled by AI. While scholars agree that AI technology significantly changes human activities and human resources, currently we do not have an adequate understanding of how humans and AI technology interact in value co-creation. Thus, the study was conducted to understand the interface between AI and customers, and to analyze the various factors which play pivotal role in better customer satisfaction. Therefore to do this, we used exploratory factor analysis by taking in 11 variables which could possible made an impact on the customers. We devised a structured questionnaire from those 11 variables and responses were taken in 5 point scales. Out of the responses we were able to analyse underlying constructs and analyse the factors which contributes to this cause.

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

Article Details

How to Cite
N R, N. (2022). Conversational AI: Indispensable way to attract and retain customers. ISBR MANAGEMENT JOURNAL <span style="font-Size: 16px;"> ISSN (Online) - 2456-9062</span≫, 6(02). https://doi.org/10.52184/isbrmj.v6i02.112
Section
Articles

References

Artificial intelligence (AI) and value co-creation in B2B sales: Activities, actors and resources, Australasian Marketing Journal(AMJ)

Babina, Fedyk, He, Hodson (22 Nov 2020) “Artificial Intelligence, Firm Growth, and Industry concentration”.

Chenshou Sun, Zijun Shi, Xiao Liu, Anindya Ghose, Xeuyung Li, Feiyo Xiong (5 Nov 2019) “The Effect of Voice AI on Consumer Purchase and Search Behavior”

Deng, Zheng, Huang, Kannan((24 Nov 2019) “Let Artificial Intelligence Be Your Shelf Watchdog: The Impact of AI powered Shelf Monitoring on Product sales”

Gao, Galley, Li, (June 2018) “Neural Approaches to Conversational AI”

Gao, Peng, Li, Li, Shayandeh, Liden, Shum (Sept 2020) “Robust Conversational AI with Grounded Text Generation”

Hildebrand, Christian Bergner, Anouk “AI-Driven Sales Automation: Using Chatbots to Boost Sales

Liu, Kin, Fang, Qu “Artificial Intelligence Coaches for Sales Agents: Caveats and Solutions”

Peter Gentsch “Conversational AI: How (Chat)Bots Will Reshape the Digital Experience”

Tarun lalwani, Shashank Bhalotia, Ashish Pal, Vasundhara rathod, Shreya Bisen “Implementation of Chat Bot system using AI and NLP”