In today’s digital age, it’s becoming increasingly difficult to differentiate between virtual assistants and real-life individuals. Companies are leveraging artificial intelligence (AI) to create chatbot conversational agents that interact with customers, such as the fictional character Ashley Garcia used by the Phoenix Suns basketball franchise.
Conversica, a leader in developing conversational agents, realized the potential of natural language processing (NLP) technology and sought to enhance customer engagement by creating its own large language model (LLM). However, the cost and complexity proved challenging, leading Conversica to incorporate OpenAI’s GPT-2 LLM and custom-trained models specific to each client’s industry.
The success of Conversica’s chatbot agents in sales and marketing organizations is evident. With over 1,100 customers, including major sports teams and renowned companies like AT&T, Visa, and Oracle, Conversica is transforming the way businesses connect with customers.
What sets Conversica’s chatbots apart is their ability to generate natural responses and exhibit personality. Customers often find it difficult to discern whether they are conversing with a human or a chatbot. The engagement rate is a staggering 24%, far surpassing the industry average of 1-2%. Although the conversion rate stands at 12%, significantly higher than the industry standard, Conversica guarantees a 10x return on investment for its clients.
1. What is a conversational agent?
A conversational agent, also known as a chatbot, is an AI-powered program designed to interact with users through conversation. It uses natural language processing to understand and respond to user queries.
2. How does Conversica’s chatbot work?
Conversica’s chatbots utilize custom-trained models specific to each client’s industry, allowing them to answer 99% of user questions based on proprietary data. For non-domain-specific queries, the chatbots tap into publicly accessible large language models to provide accurate responses.
3. Why are chatbots beneficial for businesses?
Chatbots automate various tasks in sales and marketing, improving efficiency and customer engagement. They can communicate through different digital mediums such as email, SMS, and messaging apps, offering a convenient and personalized experience for customers.