How AI Chatbots are Transforming Customer Service in the Blockchain Industry ?

Berry Mathew

How AI Chatbots are Transforming Customer Service in the Blockchain Industry ?

Most companies have been undergoing digital transformation to meet the expectations of their customers. And the essential tool of this transformation is an AI chatbot. Therefore, a lot of companies are on the lookout for a professional who is a certified chatbot expert and can help them build durable customer service. 

Chatbots have been in the industry for a very long time. A survey conducted by Oracle shows that about 80 percent of businesses worldwide have been working to incorporate Chatbots in their businesses. Furthermore, it’s not just about companies but the customers are also willing to see Chatbots in the companies. According to Ubisent’s data, approximately 35 percent of consumers want to see Chatbots used in companies. 

What is an AI Chatbot?

As the name suggests, AI Chatbots are AI-powered software whose primary task is to simulate a conversation with a customer or a user using Machine Learning and Natural Language Processing along with some rule-based preset responses. And to do this, IT professionals need to get a chatbot certification where they will learn to employ this technology. Chatbots have often been perceived as a machine and a human conversion. 

Use cases of AI Chatbots. 

Chatbots are primarily used in customer service in various industries such as retail, BFSI, healthcare, etc. Some of the most popular use cases of an AI Chatbot are – 

  • Placing and tracking orders on eCommerce websites. 
  • Filing quick complaints for any missing item. 
  • Payment of bills 
  • Making reservations at any place, such as restaurants. 
  • Gaining access to a human support executive before the call. 
  • Getting the bank statements of all the latest transactions. 
  • Making knowledge-based pointers and FAQs for any software installation process. 

AI Chatbots in Customer Service in the Blockchain Industry

AI Chatbots can work wonders with Blockchain technology. Blockchain technology creates shared and trusted ledgers that help track the ownership of various assets attached to them. And Chatbots are combined with it; you can manage and make these ledgers accessible through AI. 

Save Warranty Details

Companies like Deloitte have been using Blockchain technology with chatbots to allow people to store the warranty details of their products on the Blockchain. A person does not need chatbot training to do this. All they need is to scan the details of their product, including the barcode, and send it to the Chatbot, which will then save these details over the Blockchain. This will allow customers to easily find their warranty details and reduce the burden of companies’ customer service, which would spend a lot of time assisting users in finding their warranty details. 

24*7 Customer Service

An AI chatbot provides uninterrupted service to customers. This makes a business look more accessible, and queries can be answered based on past data, which ensures that a customer gets satisfaction from the service. 

Human customer service can also be provided by companies 24*7, but it comes at a considerable cost. This makes it difficult for small companies to provide 24*7 services. This is where they can use an AI chatbot for customer service. 

Quick Resolution Of Queries 

A certified chatbot expert can create software that can interact with users actively and find solutions quickly. Furthermore, there is no such thing as a waiting line which can make users restless for customer support. This ensures that the customers remain happy and feel acknowledged. 

The answers that are provided by these chatbots will be backed by a robust technology that will ensure that users get the correct answers in a few minutes. 

Data Analytics

An AI chatbot interacts with many customers daily, and in this interaction, they procure a lot of data on customer behaviors. Using KPIs and other metrics, companies can make better decisions and can easily understand what aspect of the product disappoints their customers the most. This data can then be used to increase the brand’s visibility, improve dialogue and enhance customer engagement rates. 

As A Front For Live Chats

Many companies that provide services related to Blockchain technology get a lot of queries from their customers. And for that reason, they have established a dedicated customer support base. However, it is not feasible for the company to hire too many people for it as it will not only be expensive for them but also make it difficult for them to manage such a large team. Therefore, a lot of companies have been using AI chatbots as the first line of customer service. If a customer cannot find a satisfactory answer from the bot, they will have the choice to move on to the live human customer service team with their query.  

Increased Scalability

With an AI system in place, you can easily predict upcoming support requests. You can employ chatbots to reduce this waiting time in peak seasons like Christmas Eve. Earlier, businesses needed to hire extras during these seasons, making it difficult for them to train new agents and onboard them. 

Cost Saving

According to a study by Juniper Research, Chatbots can deliver eight billion dollars every year in cost savings by 2022. Chatbots can supplement large volumes at a low operational cost. 

Increases Accessibility 

Chatbots can be integrated with different pages on the website and on the company’s social media accounts. Platforms like Facebook and WhatsApp can be modified to provide automated messaging services. By doing this, chatbots can help eliminate the risk of losing impatient customers. 

Furthermore, with the help of chatbot training, you can customize the language, font, contrast, and personas. 

Lead Generation 

Chatbots can help businesses grow according to the needs of the users. It can guide companies and enable them to identify their customers’ likes, dislikes, and interests. This helps them in planning products that resonate better with the customers. Furthermore, chatbots need to seem pushy to customers as they prioritize helping them. Through this, they understand customers’ preferences and help companies gain new customers and retain the old ones.  

Consistency 

An AI chatbot will always provide consistent responses to users in appropriate languages. With the bots, you can provide visitors with relevant information on the brand’s offerings and price changes. The information provided by a bot is likely to be more accurate and apt than that of a human support agent, which makes a customer trust them, and there is a good chance that they will explore different services offered by the company. 

There were some of the ways in which AI chatbots are transforming customer service in the Blockchain industry. However, to use this technology effectively, you need to have ample information about it, and you need to know different techniques that can be used to make this process much more effective.  

To gain more insight into the different applications of AI chatbot in Blockchain technology, visit Blockchain Council. Here you can access legitimate sources of information on AI chatbots which will assist you in chatbot training, AI certification and how chatbots can be used to make all the aspects of the business, including customer support, more efficient.

How AI is transforming customer service