The CEO of Kore.ai claims that conversational AI is the basis for the metaverse

The CEO of Kore.ai claims that conversational AI is the basis for the metaverse ...

Conversational AI, often referred to as the intersection between natural language processing (NLP) and natural language understanding (NLU), is an algorithm-based intelligence that assists computers listen to, process, understand, and make meaning out of human language. With COVID-19 accelerating the digital transformation drive, organizations have adopted new approaches to match customer expectations in a timely query resolution.

A survey from Liveperson claims that 91 percent of users prefer companies to use their cellphones or messages to alleviate this demand. Chatbots have become an effective way to make this possible. They are cost-effective, efficient and capable of handling human requests, thus allowing the difficult queries to be reserved for human agents.

As a result of the increase of AI-driven chatbots, there is a need for more sophisticated systems, as well as for chatbots to understand and provide appropriate answers to help customers get the best possible experience. This is particularly relevant for the emerging metaverse space, as organizations seek to improve their visibility and user experience.

The rise of conversational AI

More businesses have been embracing the use of conversational AI throughout the last few years. Open-source AI language models have now aided developers and businesses in the conversational AI space to develop better chatbots, assist with enhancing customer satisfaction, and increase employee experience.

Conversational AI combines the practicality of AI in creating a human-like interaction between the person who answers the questions and the machine that answers. Chatbots powered by conversational AI can also recognize human speech and text. The conversation also takes place with an understanding of intent, allowing more accurate answers.

As voice and conversational AI become more active in customer interactions, it becomes more necessary for bots to tap into historical data, connecting data from voice calls to messaging conversations. Conversational AI helps to make this possible by assisting machines to gain understanding of the human voice they are listening to, understand biases and process the answers that humans are looking for.

Breath of shipping and implementation without skimping on usability

According to Koneru, businesses are required to develop conversational AI chatbots from the ground up. This is because of limited time, such as how sophisticated, language, and geographical support. There is also a reason why the AI should be trained and tested on market readiness.

Many businesses opt for Kore.ai, a no-code automation platform that addresses the conversational AI challenges of companies that want to improve customer experience and interaction with their products.

Kore.ai, a leader in the conversational AI space, is listed in Gartners'' Magic Quadrant for Enterprise Conversational AI Platforms in 2022, indicating the company''s ascending trajectory in the industry. Amelia, Cognigy, Omilia, IBM, and OneReach.ai are some of the company''s other companies on the list.

Kore.ai claims to use a combination of NLU approaches, including fundamental meaning (semantic understanding), machine learning, and knowledge graph to identify user intent with a higher degree of accuracy and execute complex transactions.

  • Fundamental meaning: Analyzes the structure of a users utterance to identify words by meaning, position, conjugation, capitalization, plurality and other factors.
  • Machine learning: uses state-of-the-art algorithms and models to predict the intent.
  • Knowledge graph: provides the intelligence required to represent the importance of key domain terms and their relationships in identifying users intent.
  • Ranking and resolver engine: determines the winning intent based on the scores provided by the three engines.

Eyes on the metaverse

Gartner forecasts that 25% of people will spend at least one hour daily in the metaverse by 2026, allowing businesses to join the race to pursue their claim in the metaverse. Companies are developing customer touchpoints and are proactively mapping out user experiences.

In the metaverse, according to Koneru, humans will have conversations with avatars, essentially chatbots. So, it''s crucial to create avatars that can understand the dynamics of human conversation, process it, and deliver exact results. Even with all the human nuances that may interfere. This is where conversational AI comes in.

As Koneru said, the use of conversational AI to improve virtual experience in the metaverse has demonstrated a significant potential. The metaverse is ripe with a large number of use cases that traditional businesses can benefit from.

The use of physical activity in business situations requires a lot of attention, such as the post office and many educational services. This is true for telehealth, while entering the metaverse and meeting a virtual person of your doctor who can verify your vitals.

According to Koneru, Kore.ais'' attempt to improve the metaverse with conversational AI will see it become the first conversation AI company to focus on the metaverse while still satisfactorily satisfying the needs of everyday individuals. However, according to a G2s study, Kore.ai has competition in Intercom, Zendesk Support Suite, Drift, Birdeye, and others.

Kore.ai has raised $106 million in equity over the last eight years and currently serves over 200 Fortune 2000 companies.

You may also like: