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.