How Generative AI Chatbots Enhance Business Operations
Artificial intelligence has brought many significant innovations lately. Generative AI (GenAI) chatbots are at the forefront of this revolution as they don’t require special skills, are easy to access, and offer sophisticated human-like interactions. Examples include IBM Watson Assistant, Copilot, Gemini, and ChatGPT, which everyone talks so much about.
Self-supervision combined with massive data and computing power enables generalizable and adaptable representations called foundation models. These large-scale neural networks can be trained and adapted to various tasks. They, for example, power such AI apps as ChatGPT. Any business can take a large pre-trained AI model fed with trustworthy data specific to a given industry and powered with the company’s knowledge to tune it to a particular range of use cases. It opens almost endless business possibilities since you can not only use what popular GenAI chatbot developers offer but also adopt an AI solution tailored to your business needs. And businesses use this opportunity in one way or another. According to McKinsey’s The state of AI in 2023, one third of all respondents use GenAI regularly for at least one function:
Today, we’ll look at how artificial intelligence and, specifically, GenAI chatbots can be used in different industries, from healthcare to E-commerce.
Customer Service
GenAI chatbots are changing customer service by managing inquiries, offering solutions to common issues, and ensuring round-the-clock support. Their adoption can enhance overall satisfaction and operational efficiency.
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ChatGPT is making a significant impact by enhancing the efficiency and quality of interactions between customers and companies. For instance, GenAI chatbots can be integrated into a company’s customer service platform to respond instantly to frequently asked questions, reducing wait times and freeing human agents to handle more complex issues. Octopus Energy is an energy supply company from the UK that relies on ChatGPT, which is integrated into their emailing system and can solve clients’ problems and answer their questions. As the company says, the artificial intelligence system can handle up to 44% of customer inquiries and free up many employees to focus on other tasks. However, the AI chatbot still relies on human supervision. Employees, for example, need to overview the drafts of personalized emails generated by this GenAI system before sending them.
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Bank of America’s Erica is an AI virtual assistant that offers a wide range of banking services. Artificial intelligence can assist users with checking balances, transferring money, paying bills, finding transactions, providing spending insights, and even offering credit score information.
The most common uses of Erica are monitoring subscriptions and bills and analyzing spending habits. Since its launch in 2018, this GenAI chatbot has surpassed 2 billion interactions with clients.
Healthcare
In the healthcare industry, GenAI chatbots are used for patient triage, scheduling appointments, sending medication reminders, and providing essential medical information, improving patient care and operational efficiency. According to a survey by IDC, the most common use cases for AI chatbots and digital assistants in healthcare in the US are…
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