Chatbots, AI: the Future of Innovation

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I’m very excited about my new role as Innovation Director at Wovenware. I’m looking forward to introducing innovative paradigms, while leading our talented team of engineers as we develop disruptive products, such as chatbots and smart solutions for our clients. Wovenware has more than 14 years of experience building enterprise applications and has focused the last few years on smart applications, where enterprise, legacy and machine learning converge. If anyone can lead customers in their journey to cognitive computing, it’s us.

According to IDC’s 2017 predictions, widespread adoption of cognitive systems and artificial intelligence (AI) across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. It is clear that customer-facing, intelligent chatbots are providing a new level of communication and user experience as people continue to spend more time in messaging apps than on social media. These cognitive tools and bots read facial expressions, understand human emotion and learn new skills, blurring the differences between humans and computers.

We’re busily working on custom chatbots for our clients, because they understand how important it will be to provide their customers with the ultimate user experience. Today’s customers expect instant answers to their questions or concerns about various services, and recognize the role bots play in providing these services, quickly, efficiently and courteously.

Bots in Insurance

Lately, I’ve been working closely with companies in the insurance industry which could really benefit from chatbots.

Today, the process of getting a new quote requires a call to your broker or to a call center. Sometimes I spend long minutes navigating an automated voice menu just to end up getting an answering machine, looping back to the main menu or having to call again because I didn’t have all the information in hand. I don’t know about you, but for me it’s a pain. Especially when I buy a new car over the weekend and my broker is out sailing the Caribbean waters. I want to get quotes and compare them fast and easily, and if the insurance company makes this process difficult, I will probably go with someone that makes this process smooth and enjoyable. How about a nice friendly bot that I could talk to anytime and get the quote immediately? Allow me to share a scenario.

I initiate a conversation with the bot of my insurance company, and I’m authenticated and greeted in a friendly way. I also would immediately see a menu of the services available specifically for me. I could request a quote for a new car, add my son to the policy or even remove a car from coverage. Once my transaction is completed, I will receive an email with the notification that my policy is active. I could do this from: Facebook Messenger, Kik, Slack, Telegraph, SMS or even good old Skype.

Insurance companies can greatly benefit by implementing secure and cost effective solutions for customer service, reducing costs and fully engaging customers in new ways.

And Bots Everywhere Else

Companies in virtually every service-oriented industry can benefit. Businesses are recognizing that while customer experience is everything these days, being immediately available 24/7 isn’t always easy or practical. With smart chatbot technology, it’s easy, practical and cost-effective to give your customers the personalized service they expect – anytime and anyway they want it.

As we share our journey for continued innovation at Wovenware, stay tuned for solution demos and future blogs on our website. We’re excited to be on this journey with you.

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