Comparison of Chatbots vs Conversational AI in 2024

As the official fuel sponsor of the NHL, Esso aimed to engage hockey fans and promote their brand uniquely. Collaborating with BBDO Canada, Master of Code Global created the bilingual Messenger Chatbot, introducing the innovative ‘Pass the Puck’ game. The objective was to entice as many Canadians as possible to participate, concersational ai vs chatbots passing the puck from coast to coast. Through enticing social ad marketing, over 84,000 Canadians engaged with the Chatbot, with an impressive 83% sign-up conversion rate and 94% player retention rate. The puck traveled over 1.2 billion kilometers, reaching all three Canadian coastlines and more than 2,500 towns.

When compared to conversational AI, chatbots lack features like multilingual and voice help capabilities. The users on such platforms do not have the facility to deliver voice commands or ask a query in any language other than the one registered in the system. Additionally, with higher intent accuracy, Yellow.ai’s advanced Automatic Speech Recognition (ASR) technology comprehends multiple languages, tones, dialects, and accents effortlessly. The platform accurately interprets user intent, ensuring unparalleled accuracy in understanding customer needs.

Chatbot examples

It has fluency in over 135+ languages, allowing you to engage with a diverse global audience effectively. They employ encryption protocols, secure data storage and compliance with industry regulations to protect sensitive customer information, ensuring safe and confidential interactions. It’s an AI system built to assist users by making phone calls for them and handling tasks such as appointment bookings or reservations.

• Nevertheless, their common goal is to enhance customer experience and ensure better engagement.
• And Juniper Research forecasts that approximately $12 billion in retail revenue will be driven by conversational AI in 2023.
• This allows conversational AI to better understand and process human language and power more intelligent automated conversations with humans.
• In contrast to Eliza, PARRY passed a full Turing test, which determined its more advanced structure.

Compared to traditional chatbots, conversational AI chatbots offer much higher levels of engagement and accuracy in understanding human language. The ability of these bots to recognize user intent and understand natural languages makes them far superior when it comes to providing personalized customer support experiences. In addition, AI-enabled bots are easily scalable since they learn from interactions, meaning they can grow and improve with each conversation had. Yes, traditional chatbots typically rely on predefined responses based on programmed rules or keywords. They have limited flexibility and may struggle to handle queries outside their programmed parameters.

Customer Communications & Operations

One of the most common conversational AI applications, virtual assistants — like Siri, Alexa and Cortana — use ML to ease business operations. They are typically voice-activated and can be integrated into smart speakers and mobile devices. Through an intuitive, easy-to-use platform, you can parameterize your chatbot’s interactions autonomously and without technical knowledge. Plus, you can give it the necessary knowledge to answer questions about your company and products/services, thus enriching it continuously. However, suppose your focus is to digitally transform your company, be at the forefront of innovation, increase customer satisfaction, automate processes and optimize the work of the Customer Support team.

If scalability and expansion are part of your business strategy, Conversational AI’s adaptability and potential to grow with your company make it an attractive option. Master of Code Global has provided a checklist of key differences in the table below to aid your decision-making process. NLU is a scripting process that helps software understand user interactions’ intent and context, rather than relying solely on a predetermined list of keywords to respond to automatically.

An AI bot can even respond to complicated orders where only some of the components are eligible for refunds. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month. Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years.

That means the chatbot won’t be able to resolve queries that have not been previously defined. These tools must adapt to clients’ linguistic details to expand their capabilities. The only limit to where and how you use conversational AI chatbots is your imagination. Almost every industry can leverage this technology to improve efficiency, customer interactions, and overall productivity.