How can intelligent chatbots be used to drive user engagement? What defines intelligence in a chatbot? Discover how we as humans perceive intelligence in AI and how this perception can be used to drive user engagement to new levels. Download your free copy now.
Read our latest Artificial Intelligence whitepaper: Getting an AI Bot to Work for Your Airport. It discusses the general state of AI adoption before delving into Airport specific use cases. Then it explains how AI bots can impact an Airport’s bottom line, after which taking a look at what the industry experts and researchers have to say.
Learn how AI bots can provide solutions to real-world business challenges, improve customer service, drive sustainable growth and reduce operational costs.
Table of Contents
AI goes Mainstream
The Opportunities are Endless
Driving Value for Airports
Thoughts from the Industry
What does the Research Say?
1. AI goes Mainstream
For many years there has been a great deal of interest in how AI can provide real-world benefits to organisations. However, it’s only recently that AI has begun to show its true value.
Over a variety of industries, AI technologies have provided cost-effective ways of boosting productivity, optimising yield, increasing efficiency and improving customer satisfaction. With AI having moved into the mainstream, many notable experts believe we are on the cusp of a major shift in how businesses operate. In February 2018 Sundar Pichai, CEO of Google asserted that “AI is one of the most important things humanity is working on. It is more profound than … electricity or fire”…
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Artificial intelligence is impacting all areas of our life. It is suggesting what accessories you want with your purchase, what books you might be interested in reading along with the one you’ve just ordered. It is taking details of your request and answering your questions. It is diagnosing your diabetic retinopathy, and it is working in the background analysing large volumes of data looking for trends and patterns.
These patterns, once linked, could be applied in a healthcare setting, which given the right algorithms, technological breakthroughs, patient history, and medical data, predict the likelihood of a person contracting cancer.
AI is about predictions - YouTube
Artificial intelligence is becoming the go-to tool to automate large volumes of data. This is far beyond just sorting the data into sets. It starts to look for trends and patterns and is becoming increasingly accurate in discovering these trends and patterns. This is enabling businesses to mine their data in ways never thought possible before. AI in healthcare has the potential to link medical data together to the benefit of human health.
AI taking the Load in Healthcare
Imagine if you had an automation at scale technology, able to take patient data in confidence. This would include who the patient was, gender, age, their current symptoms, and previous conditions before medical centre staff become involved. The data could be relayed to the doctor with suggestions or predictions on what the patient is suffering from.
How much of the workload would this free up? Consider:
Automation can already engage countless people simultaneously on social media channels such as WhatsApp and Facebook. It can engage while in active use on a website.
The data it receives can be quantified and stored. Would this not be invaluable to doctors in making both the diagnosis and to free up their workload? How many patients would not need to visit their doctor if they were given the right information from the automated doctor?
In an era when GP waiting times are rising exponentially having an AI assistant screening patients and booking them in is an invaluable resource.
AI is Already Making the Diagnosis
Recently, AI company IDx received Food and Drug Administration (FDA) approval in America for its IDx -DR. This is the world’s first FDA approved artificial intelligence tool that can successfully diagnose diabetic retinopathy. It can operate on a large-scale analysing data and accurately determining if a patient has the condition.
IDx recently received $33m in funding to develop the platform. This platform enables IDx to add services to it as they are approved, considerably speeding up the deployment of new services around the world.
AI in healthcare is Learning
AI in healthcare is not just being fed reams of data on the human condition. It is learning how human beings speak and deciding how to respond to what it is being asked. This is called Natural Language Processing (NLP). This is enabling AI to be able to place in context what it is being said to it and respond. It is able to provide the right information and take appropriate action.
In a medical context, if the AI detected a patient was showing the early signs of cardiac arrest, it could tell the patient to try and relax while it contacted first responders forwarding the data it had retrieved.
AI in Medicine Challenging the World
Artificial Intelligence is not just improving our lives, it is challenging how we see us from a legal perspective. The EU is considering giving AI a legal status allowing them to sue or be sued.
AI is challenging the law - YouTube
Industries change completely as more and more AI is developed. Designers of AI systems are becoming more adept at deploying the AI in the right scenarios. For example, AI determines a possible eye condition, so it narrows its scope to eye conditions. This focus is making AI faster and more accurate.
In countries that operate private health insurance, if an AI determines a patient has more chance of contracting prostate cancer than most people, he or she may want to find an insurance company that has better services in this regard.
Enhance your Business using AI – Book your Consultation
To discover how automation could benefit your business, talk to us today. Our AI is helping finance and banking, aviation, human resources, retail, and a host of other industries, streamline and offer better services to their customers and clients.
They are offering better customer service by delivering faster response times while collecting invaluable business intelligence. This is helping their businesses grow and making their reputation and brand more trusted.
Schedule your consultation by clicking here and completing the contact us form, or email email@example.com. Our team will look at your industry, your requirements and formulate an automated solution that enhances your business through cutting costs, improving productivity through faster workflow processing, and providing actionable business intelligence. Enhance your business using AI before your competitors beat you to the punch.
In part 1 and part 2 of our series on AI automation in the BFSI industry, we explored how AI is becoming mission critical to the BFSI Industry and increasingly plays a bigger part in all facets of day-to-day operations.
AI is capable of automating, reengineering, and transforming many aspects of your business. When utilised properly, you will see tangible benefits including brilliant customer service, eliminating the tasks that inhibit workflow, dramatic improvements in efficiency, and tangible cost savings.
This is accomplished in the following ways:
EBO’s AI Automation
AI Automation is having a considerable impact on how the banking and finance industry functions and operates. In essence, automation does what it always has done: takes a repetitive task and performs them automatically. AI automation, however, takes it to a new level.
AI Automation can be set to choose when to automate the task. This often follows touch point activation. For example, one of your clients has a query and starts a conversation with an automated AI. During this conversation, they ask to be directed to a manager. As this conversation is taking place outside office hours, the AI records the contact details of the client and tries to obtain as much information as possible. It then notifies the relevant person that a client wants to talk to them.
At all times the AI is polite and courteous. While it is helping one client on your website, it is assisting a prospect on Facebook, while directing a Twitter user to your product range. We call this ‘automating conversations at scale‘. Once in place, you can:
Use Automated AI to assist leads, prospects, and clients with queries. This can operate on social media channels such as Facebook and WhatsApp as well as your own website.
Cut costs by using automated AI to handle the day-to-day. This can greatly relieve and assist staff who find themselves answering the same questions day in day out. Your new AI won’t need a salary or pension and works 24/7.
AI automation is so much more than stock answers to questions. EBO’s AI is aware of the context of the conversation and as such responses are more engaging and more on-point. This provides superior customer service to a basic ‘chatbot’ and makes the AI more of a valuable business tool. This opens the door to possibilities hitherto impossible a few years ago.
EBO’s AI Transforming your Business
AI transforming the world - YouTube
As the BSFI industry becomes more data-driven, the need for artificial intelligence solutions to step in and help senior managers make sense of it becomes apparent. With the buzz of channels generating data all the time, tracking and linking the data together in a meaningful form is increasingly taxing and time-consuming.
Once AI is in play, the digital transformation process can take place. This ensures that:
You can apply new touch points to collect the data needed for better decision-making.
The data is collected 24/7 and can be displayed at a button push.
The data can be linked with other relevant data via touch points and reports formatted by the AI.
The AI can be configured to mine the data you need to extract and format results.
Many of the automated tasks outlined above can be used to collect valuable data.
The data once collected can be presented in a meaningful form providing actionable business intelligence to help you make better-informed decisions.
Making your Business More Efficient and Cost-Effective
Artificial intelligence will make your business more efficient and cost-effective. With its ability to speed up workflow through automation, perform tasks accurately and to a schedule, our AI can re-engineer your business. Imagine if the onboarding of new talent is taken care of via an AI. How much time would this save your HR department?
With our AI automating your workflow:
You can realise tangible cost savings. Tasks that were holding your teams down are now handled by your AI, making departments more cost-effective, agile, and efficient. Productivity increases are realised.
Your workflow is accelerated as AI is now completing tasks in an instant.
You can rest assured that your AI is performing its assigned tasks. AI never forgets to perform a task or become too busy to complete it.
Implement AI into your Organisation
Technology getting cheaper - YouTube
AI is the future, and to discover the future get in touch today. Our AI will help you improve nearly every aspect of your business. Our bespoke AI solutions will help you drive profits and reduce expenditure. You will see productivity increase as workflow accelerates.
Email firstname.lastname@example.org or click here and request a demo. Our consultants are experts in assessing business needs and formulating the right solution to help your organisation become more agile and more competitive.
In part 1 of our series on AI automation in the BFSI industry, we explored customer needs and expectations and the roles the BFSI industry will have to utilise to meet these expectations and repair reputational damage. In this post, we look at how customer service AI automation will provide many of the solutions that the BFSI industry needs. From improving customer service to improving productivity and increasing agility, the age of AI in the BFSI industry is here.
The age of AI is here - YouTube
Improved Customer Service and Engagement
One of the key roles that AI serves is to engage customers and to improve the services offered. AI offers businesses the opportunity to offer automated conversations to their customers and clients. This automation never sleeps and can be deployed across multiple channels including the most popular social media and messenger sites such as Facebook, Facebook Messenger, Whatsapp, and Skype.
It can go where your customers go. This makes you contactable when your customers need you to be. AI doesn’t get moody or react poorly to angry customers and offers excellent service. It can handle multiple requests, so your customers do not have to wait for a human to be free. Conversations at scale are its specialities. Not only can you provide useful information to your clients and customers, but you have opportunities to sell.
According to research published by Business Insider, AI automation including basic bots are not shunned by the public. In fact, compared to the backlash outsourcing call centres overseas received, the public’s response to customer service AI bots is highly positive by comparison. Here is a snapshot of the research which received 5000 respondents worldwide:
44% were happy to deal with a customer service chatbot.
38% of chatbot users rated their experience as positive. A further 51% had a neutral stance.
48% stated they preferred chatbots that solved issues rather than have a personality
Your customers today want convenience and having an AI handle their requests 24/7 gives you the platform to provide it. The fact that you can deploy a Facebook chatbot or a Whatsapp chatbot day in day out, gives your customers the opportunity to discover information and make purchases that they could not do before.
Consider, today’s customer service AI is capable of introducing your product range once your customer mentions the right phrase. A customer looking to buy will get a nudge in the right direction along your sales funnel. You can foster leads by offering to schedule an appointment with a sales rep as well as offer services. The possibility already has a far-reaching scope and although the technology is not new, it is not old either. It is being developed all the time. Next year, you will have more possibilities at your fingertips.
As well as improved customer service costs can be greatly reduced, AI does not require a salary, pension, healthcare, or any other benefits. They never get sick or take holiday and are able to handle most of your customers’ requests. Given that the technology has now reached a point where it can handle a conversation, deal with queries, offer services and foster leads, it offers far greater cost-effectiveness than most of its human counterparts.
Business intelligence is a commodity that more and more businesses are utilising across industries. In the BFSI industry, this intelligence is invaluable. Again, as well as providing a best-in-class service to customers, AI transformation is collecting data via customer interactions all the time. In fact, it can record specific touch points to give you the business intelligence needed to make better and more informed decisions.
The data can be mined to find all number of things to help you propel your business from popular products, age and gender of your customers, times of the day they respond, and what phrase was asked to give the green light of your AI solution to upsell.
It is also possible to integrate the data into your back office, so meaningful big picture reports can be generated to give you insights into mission-critical factors and determine whether key performance indicators are being met.
Artificial Intelligence deployed in a customer-facing role is much more than a means of communication. They represent your brand as much as your customer service personnel. Therefore, it is important to ensure the chatbot solution can bring your brand to life in its programmed responses yet still come across as an interactive entity rather than something automated and off-putting.
Customer Service AI Automation Solutions
It is clear that AI is going to play an increasing role in the lives of everyday people. The technology is constantly being developed, becoming more refined and more sophisticated. It presents good opportunities to sell and cultivate leads while providing an invaluable service to your customers relaying the information they need.
With increased interactions comes business intelligence and this data, the new oil, will prove invaluable in shaping both your marketing and your sales strategies.
The time to adopt an AI solution is now. The competitive worlds of the BFSI industries demand that you bring your organisation up to speed. Customer service automation represents a new era in the BFSI industry where improving the service you provide and rebuilding your reputations go hand in hand.
In the future, customers will be choosing who they bank with, who they insure with, who they trust their finances with, and on who has the better automated artificial intelligence solution.
Talk to us about AI Automation of your Processes
With the clear advantages strategic AI brings, talk to us today. Discover what our AI automated solutions can do for your organisation. Transform your business processes and become more efficient, more flexible, and offer a better customer service.
The past decade has been a challenging journey for the Banking and Financial Industry. From the 2008 financial crisis to the birth of FinTech giants and evolving consumer dynamics, this industry is not only attempting to stabilise itself and its reputation, but also aiming to prepare for the digital disruption yet to come.
Within the next series, we will be discussing the challenges that the Banking and Financial Industry faces, eliminating ambiguity around technological solutions paving the way for this digital revolution, and highlighting areas of improvement in order to thrive in this hyper-competitive landscape.
Traditionalist approaches are no longer applicable in this digital era and cause a series of hurdles that the BFSI industry needs to acknowledge prior to adopting digitalisation.
An Actively Disengaged Workforce
One of the biggest challenges that the Banking and Financial Industry faces nowadays is an actively disengaged workforce, as highlighted in the video below. The workforce is detached from their work, constantly looking for new captivating experiences.
AI provides a compelling experience at the workplace - YouTube
Its root cause dates back to the 2008 financial crisis, which resulted in serious economic implications for the Banking and Financial Industry as customers weren’t willing to take much financial risk. Due to the fact that customers were not utilizing much of the banks’ services, profit margins have declined, forcing banks to improve their overall internal operational efficiency and reduce the cost of customer service in an effort to retain profitability.
This has resulted in more and more customers getting frustrated with the banks’ services and employees becoming actively disengaged with their work as they deal with mundane tasks and repetitive complaints.
Customers are Looking for Quick Solutions
The days of standing in long queues and filling out endless amounts of paperwork to access banking services are long gone. Customers are now looking for answers to their financial questions immediately. This is forcing banks and financial institutions to address this need or risk losing their customers’ confidence and loyalty and look for alternative banking and financial services that have been early adopters of technology, from chatbot solutions to fraud detection.
The Introduction of New Millennials
It is no secret that New Millennials are digital natives. As an increasing number start using Banking and Financial services, there is more and more demand for automated processes to facilitate interactions. Gartner predicts that by the year 2020, an estimated 85% of relationships between customers and the bank will be managed without direct human interaction.
The use of messaging apps has risen and the way New Millennials use Social Media to interact with businesses is changing. Most of social interactions are not happening in public anymore but rather through the use of various messaging apps and private groups. With one-to-one messaging dominating the Social Media world, new opportunities are being created. As shown below, according to Statista over 2.5 billion people have at least one messaging app installed with WhatsApp and Facebook messenger coming up on top.
Within the next couple of years, Activate say that the new figure will reach 3.6 million. This means that instant messaging platforms are not only places where people connect and communicate in real-time, but are also where New Millennials would like to interact with businesses. In fact, when asked by CGI, 58% of respondents wanted their services to be offered to them digitally.
An Increasing Need to Create a More Personalised Experience
Banking and Financial Services involve a relationship with customers. Recent Nielsen reports suggest that 1 out of 3 complaints that accountholders make on Social Media end up getting resolved over the phone. The fact that customers are ready to escalate an issue they are facing and look to other channels to find an answer, illustrates the importance of offering more personalised experiences by being there, ready to help them through the channels that they prefer.
Keeping Up with the Competition – The Race for Adopting New Technologies
The competitive nature of the market, more sophisticated customer demands and rigid regulatory and financial requirements paved the way to the emergence of technological solutions. Technology firms have recognised this and have started to create various applications that can assist Banking and Financial Institutions to manage their services, from automated customer service solutions provided by AI chatbots to intuitive mobile applications.
This has caused the competition to increase with various Banking and Financial Institutions adopting new technologies with an aim of putting them ahead of the game.
Discover how EBO can boost your customer service
EBO is a chatbot solution that provides friendly, automated conversations designed to help its human companions. EBO helps you guide your customers to find the right solution. Taking advantage of natural language processing, tone detection and bot personalisation, EBO is context aware and can quickly understand what your customer wants and needs. EBO provides the best possible service by picking up on various pain points and offering a solution almost instantaneously.
As the Banking and Financial Industry is facing digitalisation, are you ready to embrace it? It all begins with the desire for innovation, aligned with evolving customer expectations.
EBO is pleased to have been one of the exhibitors at this year’s World ATM Congress at IFEMA, Feria de Madrid, Spain. A total of 237 exhibitors, alongside thousands of aviation leaders, were present for the world’s largest air traffic management event, held between the 6th and the 8th of March 2018.
As an innovative AI bot which is disrupting the way in which companies interact with their customers, EBO highlighted the significance of artificial intelligence for the aviation industry. In fact, the principal focus for this year’s World ATM Congress was on how emerging technologies are strongly impacting the industry.
Over the course of three days, attendees, ranging from product developers, experts, stakeholders and air navigation service providers, came together for a series of conference sessions. Several issues were at the forefront of such conferences including the safe integration of new entrants, such as unmanned aerial vehicles, into the airspace; the role of digitisation and virtual centres on ATM; the effectiveness of new technologies on the efficiency of airspace, along with others.
Amongst the numerous speakers at the event was Dr. Olumuyiwa Benard Aliu, President of the Council of the International Civil Aviation Organization (ICAO), who underlined how the challenges of aviation growth could be resolved through the modernization of infrastructure and procedures such as space-based surveillance and air traffic flow management. AI technologies have great potential to solve many such challenges within the industry.
The event, which was operated by the Civil Air Navigation Services Organisation (CANSO) in partnership with the Air Traffic Control Association (ATCA), also featured product demonstrations and launches, contract closures as well as many networking opportunities. EBO’s display stand proved to be of particular interest to many of the attendees, who were keen learn how our solution could help them reduce costs and increase growth.
As technology continues to dominate the way we do business, artificial intelligence has proven to be highly beneficial not just for the aviation industry, but for any kind of industry. If you are looking to embrace the benefits which artificial intelligence can reap your business, get in touch with EBO today and experience the advantages of customer experience bots first-hand.
As a business owner, one of the most important parts of your work is ensuring that the channels of communication between your employees are open and free flowing. Ensuring your staff talk, discuss, brainstorm, and are united is an integral part of keeping the cogs of your company well oiled. But implementing efficient ways of communicating can be a bit tough. Gone are the days of leaflets and company newsletters, and now the days of company intranet and emails whizzing around are also numbered.
So how do you keep your employees engaged without wasting time and money, while managing to add value to their working experience? With chatbots. That’s how.
An average of 88 emails a day
An employee working in a medium sized business receives an average of 88 emails each working day and the chances are that most of these will be internal emails. Events, holiday’s, network upgrades, Clair from accounting’s birthday – these emails appear in droves and take up valuable working time, as well as adding to the stress of having an ever expanding inbox. Nowadays, internal emails either get lost and forgotten among the deluge of communication, or they end up in the trash folder without so much as a single glance. Many companies the think “oh, let’s create an intranet” but let’s be honest, who actually uses to them? Clunky, slow, and not the most intuitive of platforms, they can often take more time to get to grips with than to use for their intended purpose.
Using a chatbot to manage all internal communication means less effort for your employees as well as a fun, innovative, and seamless solution to the email issue. You can install the chatbot on a messaging platform that your employees are already on such as Facebook, Skype, or Slack, meaning they don’t have to go to any additional effort to access another platform, solely for work-related communication.
Real time solutions
Chatbots also work in real time, can answer your employees questions and queries and can even process requests such as holiday leave, sick leave, or the updating of personal details. Another benefit is the fact that by the very nature of the platforms they work on, the messages are short and straight to the point. No cumbersome or rambling emails here, chatbots are concise, quick, and are more likely to be engaged with than a 500-word email.
On hand 24/7
Using chatbots, you can push out messages such as announcements whenever you need to, but the bot will also be on hand 24/7 for whenever the employee needs it. There is no waiting around for someone from HR to get back from their lunch break, and no chasing up emails or phone calls – a chatbot can assist employees any time of day or night, any day of the year.
A chatbot such as ebo can be tweaked to suit your every internal business need. From onboarding new staff to answering questions and processing holiday leave, it can communicate with your team at lightning speed and in a fun and innovative way. Contact us here to find out more!