The previous article explained the benefits of Conversational AI over traditional BI, how the static dashboards are getting obsolete due to their inability to provide new insights. Going a step ahead, in this article, we will dig deeper into understanding how conversational AI can evolve as “data assistant” for the decision makers. Many successful organizations are switching from traditional BI to conversational AI. Have you ever thought why this transition is happening?
Traditional BI generates insights from the data! But are these insights actionable? What understanding the business owners will get from these insights? The reports & dashboards generated from traditional BI are restricted and often fail to paint the bigger picture and draw insights for their business.
Conversational AI is driven by powerful AI that continuously learns from the user’s behavior (i.e. from their past queries), gives recommendations during the next query based on the learning. Further to this, the conversational AI has NLP engine which helps it to understand the user’s language & engage with them in a conversation to drill down the data & provide relevant insights. It doesn’t only generate the reports & dashboards, also tells the user the performances & forecasting of each segment in the dashboard. According to IDC, worldwide spending on cognitive & AI forecast to reach $77.6 Billion in 2022.
Alexa, Google Assistant is becoming popular and conversational AI is definitely going to impact our lives in a very significant way. Imagine…. One fine morning you wake up to your conversational AI’s greeting message telling you about the future trends in the market, current business performance and finally assisting you with tasks that get a priority based on previous day performance. Amazing, isn’t it?
Join us!! For a CXO Breakfast Session on 15th June 2019 conducted by geniSIGHTS, an IIT Madras Research Park established company & a member of NASSCOM. The focus of the session would be on Conversational AI & its benefits to decision makers.
Gone are the days when decision-makers have to be dependent on static reports & dashboards to make business decisions. Static dashboards are often restricted to certain “filters” and “drills”, eventually lose their significance over a period of time for not providing new insights. It takes approx. 3-4 months for the IT to develop these dashboards once the requirements are given by the business heads/owners. By the time the reports & dashboards reach the business owners, it becomes obsolete as it doesn’t deliver new insights but rather present scenarios thought of a few months ago!
The shortcomings of the traditional dashboards impel the business owners to shift to conversational AI. Conversational AI is emerging at a fast pace which helps businesses with better ROI when compared to static dashboards because of its novel features like:
Provides real-time insights.
Increases user engagement by delivering a more accurate response to queries.
Learns from user behavior & give recommendations based on it.
Bury IT dependency & development complexities.
Engage with user’s customized preferences and satisfaction.
Are you ready to embrace this new innovation to increase your organization’s ROI?
It’s time to evolve from the traditional BI to conversational AI. With this vision geniSIGHTS, an IIT Madras Research Park established company & a member of NASSCOM have developed a tool called Flash. Flash is first-of-a-kind AI-powered dashboards with voice support for decision makers.
To know more… Join us!! For a CXO Breakfast Session on 15th June 2019 conducted by geniSIGHTS, an IIT Madras Research Park established company & a member of NASSCOM. The focus of the session would be on Conversational AI & its benefits to decision makers.
Have you adopted “Conversational AI” – the big innovation happening in the field of AI/Analytics?
Conversational AI is emerging at a fast pace which helps businesses bring real-time insights by engaging in conversation with their databases with the help of a powerful AI program. The technology has become more value adding enterprise marketing than being more futuristic.
Voice interactions, chatbots, AI-supported human assistants and digital assistants dominantly make up the conversation AI in India. The complexities of data analytics, data modeling, ETL layer are buried deeper and the business is exposed to a simpler interface for conversation. The business now just must “Speak to the tool and get your insights.” the algorithms became intelligent over a period and truly become “data assistant” to address their day to day problems- prediction for future scenarios, etc.
According to Gartner, close to about 40% of Indian entities have already adopted or are in the process of adopting the conversational artificial intelligence.
This has been gaining a lot of support from financial services for sales and marketing but industries like hospitality and travel are in the process of embracing it into business to gain its benefits and keep consumers engaged and satisfied.
It is important that businesses invest in a tool which can help the businesses grow. GeniSIGHTS, a NASSCOM warehouse has established a BI/ Analytics tool for decision making known as Flash. It helps businesses in many ways such as; helps in gaining business insights, real-time interactions, helps user command using voice/text, learns user behavior and responds with relevant recommendations and many more.