In the past five years, the global business community has witnessed an incredible avalanche of new technologies that are innovating on the way companies operate. Terms such as chatbot, artificial intelligence and others are becoming part of our daily conversations. But how to profit from them? How do these technologies really work? In today's hyper-techno world, it's vital to explore new concepts and put them to work for system growth and expansion.
A.I. is a broad term. It uses technology based on predictive analytics, machine and "deep" learning, natural language processing and others, IBM's Watson is, perhaps, the most well-known artificial intelligence engine applied to business purposes. The challenge with Watson for the majority of business leaders is that it is not quite clear how to profit from it.
Another A.I. engine alread available for businesses Einstein. Einstein is, pretty much, a "plug-and-play" solution that runs on Salesforce.com customer relationship management software. Some of the benefits that Einstein and other A.I. solutions provide include:
* Lead scoring: Using predictive analytics based on a company's own data, it can automatically rank how a new lead is likely to buy a company's products, services or even its franchise concept. Franchise development teams are often tired of qualifying hundreds of leads from far away countries without prioritization tools. This technology automatically moves candidates with the highest conversion probability to the top of the pile.
* Predictive customer service:
Based on past client behavior, A.I. can also anticipate if a specific client is likely to drop a company's services or stop buying its products. It uses, for example, statistical information based on past complaints, number of cases opened by a single customer, resolution time and others to make predictions. This technology especially useful for franchisors that provide remote franchisee support to international locations. By having an understanding of potential loss of business before it happens, support agents can better coach franchisees on how to retain their customers and increase customer satisfaction.
Given that advance of processing capabilities, chatbots now have the ability to interpret natural speech and learn from human interactions over time. One of the first brands using Facebook messenger chatbot is Hyatt Hotels. The Hyatt bot can have real-time conversations, ensuring the...