Business leaders are exploring conversational AI adoption in different departments due to its ability to facilitate processes and handle time-consuming issues. Artificial intelligence has become a part of our everyday lives much faster than anyone could have anticipated — and this shift to more conversational interfaces has spilled over into business at an equally rapid pace. The business expects instant gratification and simplicity of digital support, and companies are struggling to keep up with the increasing demand for growth. Enterprise leaders, however, have found the answer in Conversational AI (i.e., AI-powered chatbots). With the increasing shift to digital engagement, we are beginning to do the impossible; have computers understand natural language. Every day more and more studies confirm that customers prefer a digital means of communication to interact with companies. Intelligent chatbots offer a more personalized, all-channel, real-time user experience, and can handle specific repetitive tasks, pre-qualify requests, or direct customers to the right resources.
SAP’s solution to this problem is called SAP Conversational AI. SAP Conversational AI is part of SAP’s Leonardo Machine Learning portfolio. The service includes powerful language technology and an end-to-end bot platform allowing the training, building, and monitoring of chatbots, as well as packaged bots specialized per industry. Enterprises and startups are using chatbots and digital humans to boost productivity and create time for more meaningful tasks. Customers using SAP Conversational AI can automate their customer support with smart, multilingual, and always-on chatbots, enhancing the quality of their customer support, client satisfaction, and therefore revenue.
Benefits of SAP Conversational AI
SAP Conversational AI can unlock hidden value in the top and bottom lines of companies globally. Only enterprises that accept and facilitate this new customer dynamic will maintain their lead in this evolving and now conversation-driven economy. These organizations are redefining the customer experience and connecting people to the help and resources they need, faster than ever before.
- Improved Results: Conversational AI can provide timely, accurate, and tailored experiences in many instances, especially in customer service. Ease of scale and adaptation with low-cost/automatic responses help with the amount of time saved to provide a better user experience.
- Improved Customer Loyalty: A good user experience improves customer loyalty. A chatbot makes this experience perfect by reducing the time spent searching for a solution, the complexity of the process, and the frustration for the customer.
- Increased profits and revenue: Increased customer demand for business support translates into the need to hire more staff to address that demand. Chatbots can offer a solution here, by being able to take care of certain human tasks without the need to hire more staff, which would translate into higher profits.
- Improved productivity: The fact that a chatbot can take care of certain tasks, without human intervention, frees up the staff to focus their efforts on other more important tasks.
- Positive User Experience: This might be the biggest factor and strength of Conversational AI. As a purely human-centered technology, its focus is to allow the user to benefit from the usage of natural language to reduce frustration, time spent, and complexity, making your customers and employees happy.
Components of SAP Conversational AI
SAP Conversational AI solutions: Implement natural language processing using digital assistants to guide users through SAP processes and a chatbot building platform to build and test chatbots for different business purposes. Bot Builder allows users to quickly, and easily, create powerful conversational flows and skills, with options for collaboration and options for improving every detail. Skill is based on a conversation block that has a clear purpose and that a bot can execute to achieve a goal. SAP digital assistants leverage machine learning algorithms to allow chatbots to learn from practice and become more contextually aware.
SAP Skills are composed of three parts
- Triggers: The conditions that determine if a skill is to be activated.
- Requirements: This determines what information the bot needs from the user and how to get it.
- Actions: These are performed by the bot once the requirements are completed.
There are three stages when implementing SAP Conversational AI
- Implementation Stage: The solution is being developed and installed into your system.
- Cost Recoupment Stage: The implementation has been completed and your CAI solution is live—you are now paying for the subscription and realizing the benefits.
- Run Rate Stage: The cost of the solution has been recouped by benefits and you are attaining maximum ROI with benefits offsetting operational costs.
Conclusion
According to our chatbot / conversational stats, 31% of executives said that virtual assistants have the largest impact on their business. Additionally, 75-90% of queries are projected to be handled by chatbots by 2022. This data suggests that SAP software will depend on conversational AI across multiple SAP business models in the future. Conversational AI has the power to redefine the way your business operates. I’ve run ROI analyses across different industries and business functions—and the sheer potential is incredible.
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