Have AI Bots Become The New Business Gurus?

Have AI Bots Become The New Business Gurus?

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Personalised marketing has become essential for every leading brand globally. From calls, e-mails to now chatbots, marketing has come a long way. Artificial intelligence and machine learning have now stepped in market automation to up the game. Companies like Amazon and IBM are using their own AI chatbot software to interact with customers in a more efficient manner.

According to reports, the global market for automation software used in marketing and branding is estimated to reach $ 5.5 billion in 2019. AI has several other functions than personalised marketing; it helps in generating leads, increasing brand awareness and understanding customer’s needs. Since chatbots create a more “personal” impact than emails and surveys, customers give better feedback and can resolve their issues easily.

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Morph Into AI Chatbot

Morph.ai is a startup based in India that was founded in 2016. Morph.ai is one of the first and world’s leading chatbot builder platform. AI helps in better lead generation, it is more accurate than a human since it can generate multiple leads in a day without getting tired. Chat marketing helps Morph.ai to reach out to more customers. It’s an advanced version of automation marketing and is equipped with a behavioural recognition system. It doesn’t blindly follow all leads, it provides options like “skip” and “unsubscribe”. The user can decide when to not give out personal information and when to leave. The chatbot has prominent clients like Yamaha, NASSCOM, YES Bank, HSBC, Vodafone etc. The startup provides services across India, UK, Australia, Middle East etc.

The company uses a machine learning engine called “Mark”. The personal chatbot assistant is best for personalisation, it prioritises a user’s needs and delivers time and content according to each lead/customer’s convenience. One of the best application of Mark is that it can detect fake leads and conducts follow-up cycles to get true information. Mark is efficient and easy to use but offers only a limited suggestion/questions. For example, a demo of the chatbot is still provided over a phone call. Also, multiple or complex queries can’t be resolved by Mark alone. It needs human supervision, which again takes time. The bot also asks for a lot of personal information, not each and every buyer looks out to give such information during window shopping or casual shopping to all markets.

Gurus Around The Globe

Not all companies can afford to have their own AI chat marketers, there are several tech companies which solely work in the automation marketing field. One of the leading companies includes Albert from the USA, it specialises in AI marketing and claims to be world’s first and only AI marketing platform. The company promotes transparency with all its leads and aims to accelerate revenue and improve investment decisions. It has many clients in retail like US Wellness Meats, Natori, Red Balloon, Harley Davidson, etc.

The insights borrowed from AI chatbots helps in better analytics and adds intelligence to marketing. The objective to use AI is to handle all the bid data and segment it for the enterprise. Another company called Marketo excels in this field, the software company works on all grounds of personalised marketing, it offers lead management, mail and consumer marketing, AI chatbot software etc. It has collaborations with Charles Schwab, Century link, Panasonic, Fujitsu, etc. This revolution in the retail market will lead to the replacement of human employees by bots, AI will take over humans in the near future.

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