Businesses spend tons of money with the only motive to entertain their customers with utmost care and retain top productivity levels within their offices. However, the time has come when new technologies have evolved, and conversational AI is one among them.

There are multiple cons to working with a man-made call center. Gone are the days when a vast man force was required to take queries from customers and respond to them immediately. AI-driven chatbots have overcome that issue. 

With the introduction of AI chatbots, businesses have experienced a huge dip in investment alongside high productivity scores. In short, they are making a profit at a high margin.

Companies have reduced their call center cost up to 40% and improved productivity simultaneously by adopting new products powered by Conversational AI. With that being said,what is the role of conversational AI and how can it cut your operational costs by almost a half? Below are three ways that AI-driven chatbots benefit from reducing labor costs.

Negligible Waiting Time: Chatbots are built to streamline multiple calls without any waiting period. It removes the long waiting period that annoys many customers and directly affects the business's reputation. Undoubtedly, every big business faces a prime issue, i.e., handling many customer calls that are tough to handle without lagging. 

Another big hassle is different queries one after another. No two queries are the same in either sense, which makes customer handling a big hassle. AI Chatbots are capable of handling this volume without a large waiting period. They are made to serve multiple customers simultaneously, omitting the waiting period. It helps in serving the customers with top priority.

FACT: Digital assistants can resolve 80% of frequently asked questions, even before getting to a human, without a long waiting period.

Augmenting Human Experts: It is a sad truth that chatbots cannot handle all sorts of queries. Instead, there are complex level queries, which a chatbot can't handle and hence forward to human experts. 

Human experts now require a complete explanation of the problem, which is an annoying and lengthy process for any customer. Don't worry! AI chatbots collect maximum data through AI conversation and forward the complete information to the human expert. This saves time and provides maximum support to the customer.

Availability throughout the Day: With a traditional call center, another big problem is all-day availability. A human can only work for 8-10 hours; hence, call centers operate in shifts to maintain their service quality. However, this increases the investment cost. Chatbots reduce this expense to a significant level. 

With a one-time investment in AI chatbots, you are available to serve the customers all day-night. The chatbots do not need any break, no mood swings, and no work-off. Overall, you have a coded soldier to serve every single time. This helps you reduce the workforce costing and simultaneously boost productivity to the next level.

So, these are the three main reasons why chatbots are used in almost all businesses. Big businesses are considering it as a boon to minimize their investment and boost their productivity. Overall, you get considerable savings in business growth.