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Conversational Chatbots for SMEs to continue business from home

3 minutes, 59 seconds read

SMEs are acclaimed to be the backbone of the Indian economy. They are crucial to achieving the nation’s dream of a $5 trillion economy by 2025. But, the sudden outbreak of Covid-19 and the prolonged lockdown has brought about a very distressing time for small and medium enterprises in India and across the world.

On May 14th, 2020, the Government of India announced a Rs 20 lakh crore stimulus package, which includes 6 relief measures to bring India’s vast MSME sector back to life. Banks and NBFCs are also willing to offer up to 20% of the entire outstanding credit to MSMEs. However, the root cause of disruption in small & medium enterprises, which relies heavily on personal communication will remain unresolved unless the sector readily opts technology to drive their business amidst social distancing and staggered workforce. 

The economic stimulus will help many SMEs resume operations by providing access to credit to help overcome near term loss of income. This will help businesses..to also grow and maintain business continuity. The long term focus on enabling SMEs with technology also provides a great opportunity for our business.”

Saahil Goel, CEO and co-founder Shiprocket

Here’s how simple technology solutions like conversational chatbots can help SMEs to continue their businesses remotely.

The need of time

While running a small business can be challenging even in favourable times, productivity suffers a lot when such an unanticipated time stacks against the business. Because of the small size of the business, lack of resources and restraints on investing in workforce training are the biggest challenges with employers.

Moreover, most MSMEs rely on persuasion, for which communication is the key. The communication gap may lead to losing customers, which businesses certainly cannot afford at this time. In lines with the Government of India’s move towards self-reliance (Atma-nirbhar Bharat), reducing dependencies of any form can help startups and SMEs sustain their business.

A feasible solution to resolve communication-related concerns is deploying technologies for customer support, scheduling and reminders. 

How can conversational chatbots help SMEs and consultants

Chatbots are a great medium to automate customer support and helpdesk conversations and release human resources for sophisticated tasks. Conversational chatbots have NLP (Natural Language Processing) capabilities that understand different forms of queries and deliver more human-like responses.

In this pandemic time, where social distancing will be the new normal and business travels will suffer a setback, chatbots can make contactless, global customer support a new reality. Key benefits:

  1. 24X7 communication support: with context-based automated replies, chatbots help in lead generation and nurturing.
  2. Multiple language support: conversational chatbots support regional languages and many chatbots are trained for industry-specific jargon. This makes communication more realistic (human-like).
  3. Platform integration: it is possible to integrate chatbots on WhatsApp, Facebook messenger, skype, and many other platforms where the consumers are most active. Enterprise chatbots also have the facility to integrate with CRMs.
  4. Video conferencing: some chatbots like Hitee have video conferencing features along with chats to enable face to face and more personalized interaction.
  5. Data collection: the chatbot platform maintains data records which can be utilized in the future for analyzing consumer intent and preferences.

SMEs that benefit the most by chatbots

1. Private clinics

Juniper research suggests that worldwide, the adoption of virtual assistants in healthcare will reach $3.6 billion by 2020.

Private medical practitioners can use chatbots to schedule appointments, share diagnosis results, video chat (telehealth) to understand the condition and provide instant support and prescribe medicines.

2. Legal consultation services

Clio reports that law practitioners spend only 2.3 hours of 8 working hours in actual practice every day. Their rest of the time is consumed in administration, marketing and business development activities. 

work distribution of legal professionals

Law practitioners are already using chatbots to generate legal documents (e.g. AILira), privacy policy or a non-disclosure agreement (e.g. Lexi) and support customers with legal FAQs (e.g. Lawdroid).

Chatbots can also help the legal consultants to automate due diligence procedures, schedule meetings with clients, setting reminders, and answering firm related questions.

3. Career consultation & educational institutes

Chatbots can act as virtual teaching assistants for managing student queries, lesson plans, assignments and video FAQs.

Education institutes can also automate helpdesk queries related to admissions, fees, and curriculums.

4. Insurance companies

Amid this pandemic, health insurance and claims-related queries have skyrocketed. From making claims to browsing new plans, increasing one-on-one conversational efficiency and nurture leads into sales, chatbots can help insurance companies with customer query support.

Also read: Adoption of Chatbots across Insurance

AI Chatbot in Insurance Report

AI in Insurance will value at $36B by 2026. Chatbots will occupy 40% of overall deployment, predominantly within customer service roles.
DOWNLOAD REPORT

5. Stock brokers & wealth managers

Stockbrokers can personalize the interaction and resolve queries irrespective of the client’s location. Wealth managers can continue their lending business from home using chatbots. Bots with video conferencing tools can help them understand the clients’ sentiments and improve conversation efficiency. 

If you need customer support automation solutions, we’re here to help. We’ve made India’s leading industry-specific chatbot — Hitee to empower SMEs with AI-based chatbot solutions. For your specific requirements, please feel free to write to us at hello@mantralabsglobal.com.

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Enhancing digital patient experience with healthcare chatbots

5 minutes read

Chatbots are fast emerging at the forefront of user engagement across industries. In 2021, healthcare is undoubtedly being touted as one of the most important industries due to the noticeable surge in demand amid the pandemic and its subsequent waves. The Global Healthcare Chatbots Market is expected to exceed over US$ 314.63 Million by 2024 at a CAGR of 20.58%.

Chatbots are being seen as those with high potential to revolutionize healthcare. They act as the perfect support system to agents on the floor by providing the first-step resolution to the customer, in terms of understanding intent and need, boost efficiency, and also improve the accuracy of symptom detection and ailment identification, preventive care, feedback procedures, claim filing and processing and more.

At the outset of the COVID-19 pandemic, digital tools in healthcare, most commonly chatbots, rose to the forefront of healthcare solutions. Providence St. Joseph Health, Mass General Brigham, Care Health Insurance (formerly Religare), and several other notable names built and rolled out artificial intelligence-based chatbots to help with diagnostics at the first stage before a human-human virtual contact, especially while differentiating between possible COVID-19 cases and other ailments. The CDC also hosts an AI-driven chatbot on its website to help screen for coronavirus infections. Similarly, the World Health Organization (WHO) partnered with a messaging app named Ratuken Viber, to develop an interactive chatbot for accurate information about COVID-19 in multiple languages. This allowed WHO to reach up to 1 billion people located anywhere in the world, at any time of the day, in their respective native languages.

For Care Health Insurance, Mantra Labs deployed their Conversational AI Chatbot with AR-based virtual support, called Hitee, trained to converse in multiple languages. This led to 10X interactions over the previous basic chatbot; 5X more conversions through Vanilla Web Experience; Drop-in Customer Queries over Voice Support by 20% among other benefits.

Artificial Intelligence’s role in the healthcare industry has been growing strength by strength over the years. According to the global tech market advisory firm ABI Research, AI spending in the healthcare and pharmaceutical industries is expected to increase from $463 million in 2019 to more than $2 billion over the next 5 years, healthtechmagazine.net has reported. 

Speaking of key features available on a healthcare chatbot, Anonymity; Monitoring; Personalization; collecting Physical vitals (including oxygenation, heart rhythm, body temperature) via mobile sensors; monitoring patient behavior via facial recognition; Real-time interaction; and Scalability, feature top of the list. 

However, while covering the wide gamut of a healthcare bot’s capabilities, it is trained on the following factors to come in handy on a business or human-need basis. Read on: 

Remote, Virtual Consults 

Chatbots were seen surging exponentially in the year 2016, however, the year 2020 and onwards brought back the possibility of adding on to healthcare bot capabilities as people continued to stay home amid the COVID-19 pandemic and subsequent lockdowns. Chatbots work as the frontline customer support for Quick Symptom Assessment where the intent is understood and a patient’s queries are answered, including connection with an agent for follow-up service, Booking an Appointment with doctors, and more. 

Mental Health Therapy

Even though anxiety, depression, and other mental health-related disorders and their subsequent awareness have been the talk around the world, even before the pandemic hit, the pandemic year, once again could be attributed to increased use of bots to seek support or a conversation to work through their anxiety and more amid trying times. The popular apps, Woebot and Wysa, both gained popularity and recognition during the previous months as a go-to Wellness Advisor. 

An AI Wellness Advisor can also take the form of a chatbot that sends regular reminders on meal and water consumption timings, nutrition charts including requisite consultation with nutritionists, lifestyle advice, and more. 

Patient Health Monitoring via wearables 

Wearable technologies like wearable heart monitors, Bluetooth-enabled scales, glucose monitors, skin patches, shoes, belts, or maternity care trackers promise to redefine assessment of health behaviors in a non-invasive manner and helps acquire, transmit, process, and store patient data, thereby making it a breeze for clinicians to retrieve it as and when they need it.

Remote patient monitoring devices also enable patients to share updates on their vitals and their environment from the convenience and comfort of home, a feature that’s gained higher popularity amid the pandemic.

A healthcare chatbot for healthcare has the capability to check existing insurance coverage, help file claims and track the status of claims. 

What’s in store for the future of chatbots in Healthcare? 

The three main areas where healthcare chatbots can be particularly useful include timely health diagnostics, patient engagement outside medical facilities, and mental health care. 

According to Gartner, conversational AI will supersede cloud and mobile as the most important imperative for the next ten years. 

“For AI to succeed in healthcare over the long-term, consumer comfort and confidence should be front and center. Leveraging AI behind the scenes or in supporting roles could collectively ease us into understanding its value without risking alienation,” reads a May 2021 Forbes article titled, The Doctor Is In: Three Predictions For The Future Of AI In Healthcare. 

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