It looks like the commercial sector is turning to Artificial Intelligence (AI) for help when it comes to interacting with customers. Chatbots have been around since the 1960s, but in recent years they have come to the forefront of customer service.
Chatbots have become increasingly useful for businesses, as they are capable of providing 24/7 customer service, increasing customer engagement while reducing costs. They can also help increase efficiency, as they can be used to automate time-consuming tasks such as answering questions and gathering customer feedback.
However, despite the many benefits of using chatbots, the technology doesn’t come without its challenges. Many chatbots are still relatively limited in their ability to understand and respond to natural language, which can make conversations with them feel stilted and robotic. In addition, chatbots can often struggle to effectively handle complex queries — something which is often required in customer service.
That’s why the concept of Artificial Intelligence for Financial Intelligence (AFI) has been emerging in recent years. AFI is being developed to create AI-driven chatbots which are better equipped to handle customer conversations. By leveraging AI technology, AFI chatbots are designed to understand natural language and navigate complicated queries in order to provide more tailored customer service.
It looks like AFI could be the future of customer service — and although there may be challenges ahead, the technology promises to revolutionize the way businesses interact with their customers.
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