Change is the only constant in this world- nothing stays the same. We have evolved from dinosaurs to apes to primitive Neanderthals to Homo sapiens sapiens.
From living in caves, we now live in brick-and-cement houses.
From the time we communicated through letters and telegrams, to when Graham Bell invented the telephone, to the modern smartphones which have messaging apps, where connecting with another human being is just a text away.
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From the time we wrote down to-do lists, to virtual assistants like Siri and Alexa, who can remind you of what you are supposed to be doing.
The point is, humankind, and everything related to it, is changing, modifying, transforming.
This includes big business, and the way big business uses technology to stay in business.
As someone said, the relationship between business and technology has changed.
It’s not business using technology any longer, but technology changing the way business models are, to disrupt the structure of business altogether.
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To understand how this disruption is happening, let’s first understand what an interface is, in this context.
Interface is the means through which businesses will interact with their consumers.
Earlier, before the dawn of modern technology, this interface used to be offline- or physical. It involved person-to-person interaction between the buyer and seller. You had to visit the store or agency which was selling you the product. Although this process gave you first hand control of the transaction and involved one-on-one human interaction, there was the cost of traveling to the seller, and limited timing during which they were accessible to you.
Then came the online interface- websites- every business got their own website to provide remote access to prospective customers. They could look for information, contact the business, and even buy their products. And yet, it lacked the personal touch- there was no one to answer the customer queries, to solve their problems, to understand their needs and accordingly make recommendations- personalizing the product so to speak.
Realizing this, companies started making applications- popularly known as apps, downloadable on smartphones and tabs, and operable with or without a Net connection. But there was still a catch.
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A study from Comscore, an American analytics company, revealed that 78% of users used just three apps or less! Users don’t actually like apps all that very much- they prefer a one on one conversation, and messaging apps, like Whatsapp and Facebook Messenger, are by far the most popular.
Now, imagine an interface that solves all the above mentioned problems. An interface which combines the best of online and offline interfaces- personalization plus answering all customer queries.
This is the third interface. This is the revolutionary interface which is powered by Artificial Intelligence.
This is being increasingly adapted by companies across sectors. For example, financial services companies are adapting the third interface to facilitate interaction with prospective customers ,even to manage end-to-end transactions via automated conversations. An e-com company could use it to re-engage and send customized advice to its users. Or an automobile company could use this to help users get answers to every pre-buying query and book a test-drive
The JubiAI Ultrabot 3 is leading the revolution to upgrade businesses to this interface.
This technology can revolutionize business in the following ways:
1. Customer relationship management: As an intelligent interface, it can help the company stay connected with customers 24x7, answer queries, and assist customers with problems in case of emergencies. It can manage customer relations, and provide integrated customer services.
2. Generating business and market insights: Data is the fuel of the digital economy, and trillions of bytes of data is generated online every day. But unless there is an intelligent system to collate and utilize this data, it is of no use. Using artificial intelligence which mines the data, the business interface can use the resulting insight to better its processes & convert one-size-fits-all processes to personalized experiences
3. Systems automation: Today, machines are being trained to perform tasks which humans used to perform earlier. Automation of tasks using the third interface can not only help businesses save costs, but also enable them to use their resources in more creative work. All of these — powered by Artificial Neural Networks which gives power way beyond what computer programming has every seen
So why should you adopt a third interface like Ultrabot 3?
Gartner, which delivers technology research to major global technology business leaders, said that by 2020, customers will manage 85% of their relationship with any enterprise without interacting with a human. Other research says that by the end of 2017, only about one-third of customer service queries will require human intervention!
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Another study, by MIT Sloan and Boston Consulting Group, has some findings which are telling. Artificial intelligence, which powers the third interface technology, will, in the next five years, have the greatest impact on customer-related activities like marketing automation, service, support, in addition to IT and supply chain management.
Another statistic shows that 19% of respondents understand and use AI technology, and are called Pioneers, while 36% have not much idea what AI is, and seemingly not very keen on adopting it, and are called Passives.
Guess which one is performing better in terms of growth, and better at analytics and data governance.
Which one do you want to be- Pioneer or Passive?
Pioneer, of course, if you want to be a market-creator and stay relevant.
Let’s begin your journey with the JubiAI Ultrabot 3