All the latest news from the industry weekly compiled by the editorial team for you free of charge.
This eMail is already registered.
An unexpected error occured.
Please accept our Terms of Use.
Registration successful.
publish-industry India Pvt. Ltd.

2 Ratings

ARTIFICIAL INTELLIGENCE The increasing use of conversational AI

Sep 17, 2021

Conversational AI and its associated technologies permit humans to have conversations with machines in quite the same way as they do with one another. In fact, the market for conversational Artificial Intelligence is expected to grow from 4.2 billion dollars in 2019 to 15.7 billion dollars by 2024, customer automation start-up has said. The opinion feature talks about the growing use of conversational AI and its use in the manufacturing industry.

Haven’t we heard a lot of “Okay Google” and “Hello Alexa” at times? Well, interactive conversational AI is now a huge business, being used at the world’s largest companies. Industry 4.0 has transformed the manufacturing industry, with cutting-edge tooling and machinery contributing substantial efficiency increases. Here, conversational AI lends a hand to the benefits of technology progression for manufacturers in terms of more than the factory floor and into fundamental business processes. It is generating a buzz by helping manufacturers in purposes where employees usually have to waste a lot of time.

Conversational AI is a sub-category of Artificial Intelligence (AI) that combines various learning technologies, such as Natural Language Processing (NLP), Natural Language Understanding (NLU), predictive intelligence, Machine Learning (ML) and more. A recent report from Markets and Markets said that the global conversational AI market size is expected to grow from $4.2 billion in 2019 to $15.7 billion by 2024. With conversational AI assistants, various tasks in manufacturing operations can be streamlined by making available one easy to use conversation interface for support, information and task orchestration. Hence, bringing in noteworthy productivities and enhanced employee and customer experiences.

The adoption of these chatbots has amplified multiple-fold in the post-pandemic era, too. With these applications, one can build a strong base of AI-powered operations in manufacturing. Oracle and Future Workplace’s annual AI at Work report specified that 64% of employees would trust an AI chatbot more than their manager and 50% have used an AI chatbot instead of going to their manager for advice.

Using an AI-powered manufacturing chatbot, one can eliminate all the transactional frictions by offering an interactive approach. They also help augment maintenance efficiency, automate order management, lead to balanced inventory management and more. With an AI assistant present, customers get payment dues, on-time alerts and updates related to delivery, product availability and so on. This level of personalisation in automation grows the customer experience while helping employees avoid repetitive conversations with customers. An assortment of other challenges also get fixed, such as errors taking place due to manual processes, inquiries coming in a big amount, facing problems in inventory planning, difficulties in managing bulk orders, etc.

With these and other challenges deciphered, one can scale up order processes and achieve a clearer picture of customer demands through real-time data capturing. As a result, orders get processed rapidly, without any suspensions or errors in delivery.

The disruption of AI in manufacturing is certain. And even if conversational AI is still at its emerging stage, it is set to play a dynamic part in the improvement of how humans will network with machines in the happening times to follow. Conversational AI is set to advance and become a technology that will be seen everywhere.

Companies related to this article
Related articles