- 91% emphasised the importance of aligning AI chatbot strategies with business goals
- 88% of respondents report having used an AI chatbot in the past 3 months.
- 88% said having 24/7 availability with an AI chatbot improves customer engagement
LONDON, 26th February 2024 – A new whitepaper by The AI Journal and Onyx Data has put a spotlight on the significance an AI chatbot can have on ROI for a business. In the whitepaper titled ‘The Cost Benefit Analysis of Implementing an AI Chatbot for your business,’ there are clear indications that people and businesses are looking at AI chatbots and conversational AI to please more customers and employees at scale, in a quicker time.
The whitepaper explores the critical facets of implementing AI chatbots, shedding light on their transformative impact on operational efficiency, cost optimization, and customer satisfaction. Commentary from AI and digital transformation professionals at OpenText, KPMG, Emergn, and Digital Automation and Robotics gives examples of what an AI chatbot can do for businesses, why businesses are turning to conversational AI solutions, and how AI can be adopted safely and ethically.
Stand-out information found in the research
- 98% responded that AI chatbots reduced business operational costs.
- 91% emphasized the importance of aligning AI chatbot strategies with business goals.
- 88% recognized the significance of 24/7 availability in improving customer engagement.
- 88% reported recent usage of an AI chatbot in the past 3 months.
- 83% agreed that AI chatbots can significantly increase lead generation.
- 75% advocated for a high emphasis on investing in hardware and infrastructure for AI chatbot deployment.
“This whitepaper is a comprehensive guide for businesses navigating the transformative landscape of AI chatbots,” said Leon Gordon, Founder and CEO at Onyx Data. “Generative AI is here to stay and those that seize the opportunity will reap the rewards. This whitepaper clearly shows a trend that businesses who adopt AI solutions such as an AI chatbot are getting ahead, winning customers, and improving operational efficiency.”
Julio Hernandez, Global Customer and Operations Lead at KPMG International, said: “GenAI and AI collectively have taken the world by storm. As with most accelerating technologies and innovations, our clients are asking us how to think about AI and the opportunities and risks that it represents. Globally, CEOs are responding to this opportunity. In the KPMG 2023 CEO Report, 70% of CEOs agree that despite economic uncertainty, generative AI (GenAI) is their top investment priority. One of the top areas of interest around GenAI and AI more broadly is often on improving Customer Experience while doing so more effectively and efficiently.”
Scott Richards, SVP of Software Engineering at OpenText, said: “General chatbots like ChatGPT offer some level of utility and novelty for both businesses and consumers, harnessing general internet knowledge. However, businesses can reap the real benefits of AI chatbots by integrating them with their enterprise knowledge repositories and business systems to provide rapid contextual responses to employee and customer queries.”
Tom Allen, Founder and CEO at The AI Journal, said: “Generative AI and conversational AI are transforming the way private, public, and non-profit sectors operate, it’s a clear trend. The evidence is growing that businesses that adopt AI solutions such as AI chatbots, although not always successful, for the most part, seem to be getting ahead. This whitepaper shows how businesses are doing this and why they can deliver an improved customer experience, faster, leading to them outpacing the competition.”
To access this free whitepaper and delve into the transformative world of AI chatbots, you can download it now: https://aijourn.com/a-cost-benefit-analysis-of-implementing-an-ai-chatbot-for-your-business/
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About The AI Journal
The ultimate gateway for AI market insights, products, and solutions! The AI Journal provides news, analysis, opinions, and market trends specifically on emerging technologies to ambitious individuals and companies around the world. We equip businesses, governments, and educational institutes with specialist resources and tools that make The AI Journal content actionable and enable leaders to make better decisions to operate more effectively.
Commercially we support world-leading companies to create engaging campaigns that put them right in front of their desired audience. We bring world-class expertise to deliver customers actionable, objective insight for faster, smarter, and stronger performance to thrive in any digital economy.
About Onyx Data
Unlock the full potential of your data with Onyx Data – your strategic partner for Data-Driven Success! Our results-driven framework provides end-to-end data strategy and execution services, from design to build. With our expertise in data analytics, AI, and machine learning, we help businesses across industries turn their data into actionable insights that drive growth and success.
