Originally Published by iNextlabs Blogs
Conversational AI and chatbots are not synonymous terms. It's loud and clear.
Both terms are often used interchangeably to describe the same meaning, which is valid to some extent, but their differences are glaring. Let's start with learning the meaning and then dig into the similarities and differences between conversational AI and chatbots.
What is a Chatbot?
As we know, chatbots are a pre-determined flow that could simulate a conversation using a script. Since they only serve particular purposes and are meant to follow a specific flow, rule-based chatbots are easy to build. Chatbots are basically of two types: rule-based AI and chatbot AI. They are a simple and affordable choice if you don't need anything more complex than the text equivalent of a user interface. However, companies with customer service teams that address complex customer complaints need a scalable and intelligent solution and that's where conversational AI for customer service plays an important role.
What is Conversational AI?
Conversational AI is ideally the opposite of a rule-based chatbot, as it is not rule-based and does not adhere to a pre-determined conversational flow or script. Conversational AI chatbots, as the name implies, use artificial intelligence technology to provide personalized, human-like interactions. Conversational AI is the new standard for enterprise customer service. The use of natural language understanding (NLU) as a core feature combined with tools such as automatic speech recognizer (ASR), spoken language understanding module (SLU), a dialogue manager (DM), and text-to-speech (TTS) synthesizer is the key to what makes conversational AI platforms powerful.
Features of Chatbot and Conversational AI
The fact that two terms conversational AI and chatbots are used interchangeably has created much confusion. So, to make it easier, let's differentiate based on their functionalities for a better understanding.
Which is Better: A Chatbot or a Conversational AI Chatbot?
There is no single correct answer to this question. While conversational AI is almost always the better option for enterprise businesses, it also depends on your specific goals and needs.
If you own a small business and frequently receive the same types of customer inquiries, you can use a rule-based chatbot to handle them. Also, if you're concerned about lead generation, a chatbot can help create a few flow-based questions, and you'll be able to identify qualified leads in no time!
Conversational AI chatbots, on the other hand, are the way to go if you run a large enterprise and receive a high volume of complex, out-of-the-box questions requiring a more personalized, human-like approach to represent your brand. Thanks to NLP and natural language understanding, AI chatbots can handle almost any situation thrown at them!
The Future of Conversational AI
Conversational AI has infiltrated almost every industry, transforming how humans and machines interact and perform tasks. Modern AI chatbots are highly specialized and perform commendably as long as users stay within the topic.
Conversational AI has taken off in the setting of conversational commerce and AI-powered marketing. A personal touch is often lost as brands expand and grow. Customers are more conscientious and aware nowadays, so nurturing them with intelligent AI is key.
Most of this can be accomplished without additional resources, thanks to conversational AI platforms. AI is a game-changing solution for businesses dealing with sensitive data it can aid with resource management as well as customer satisfaction.
The possibilities for conversational AI in enterprise are endless, and now is the ideal time to invest and innovate.
Go Beyond Chatbots With iNextLabs Conversational AI
There is a pervasive myth that developing conversational AI solutions is expensive and time-consuming. Yet, at the same time, this might be true if you build a solution from scratch with specialized developers.
iNextLabs conversational AI platform can provide you with all the solutions you need to stand out in your industry. Incorporating conversational AI allows you to experience the full capabilities of intelligent automation and understand the growth potential for your business.
Schedule a free demo with iNextLabs if you need more information or are unclear if this AI technology can help your business. Our experts will reach out to answer your questions.
👉 Book your free demo → inextlabs.ai
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