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Tata Capital > Blog > Personal Use Loan > Dawn of a New Era, as Chatbots Make Way for High-Tech Voice Bots

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Dawn of a New Era, as Chatbots Make Way for High-Tech Voice Bots

Dawn of a New Era, as Chatbots Make Way for High-Tech Voice Bots

Billions of messages run across messaging platforms each day. Messaging is where a growing number of consumers started spending their time. To capture this digital channel for communication, top companies across the globe used the chatbot strategy, essentially surrounding a chat platform, to have a powerful new point of contact with customers. The experiment worked. But, the only thing about digital evolution is that it gets better and faster. So, chatbots after their 15-minutes of fame are making way for Voicebots. Forget about having to type to communicate. The voice bots, introduced by companies like Tata Capital, will voice-assist the customer as you effortlessly speak. Read on to know more.

Next orbit

Thanks to artificial intelligence (AI), customer interaction and engagement is now in the next orbit. It all began with chatbots, a computer program designed to simulate a conversation with human users on the Internet. These chatbots convincingly simulated how a human would behave as a conversational partner.

While using chatbots, there were no breaks in conversation, "I will ask my seniors", or "please wait I transfer the call to the concerned department' type of experiences when customers used the toll-free telephone route. But, chatbots still needed you to type. Do remember chatting may be easy, but it requires your focus and attention. Also, you can't do any other work while you are chatting. Imagine, travelling in a peak-time local train and chatting with a chatbot. This is where voice bots have improved upon the experience.

Voice as a tool

Voicebots process language, complete tasks, and serve as virtual assistants or intelligent agents by listening to your voice. Powered by next-generation AI, voice bots provide a more wholesome and human-like experience that is personalized for users. For instance, Tata Capital has launched the first-of-its-kind voice-bot ‘TIA’. Placed within the Tata Capital Mobile App for Personal Loan, TIA assists the personal loan customer through the entire application journey. This is an example of an exclusive mobile app based voice-bot.

Using speech recognition technology and natural language understanding, voice bots make the best use of text-to-speech technology. They can answer customer queries, assist in simplifying processes, and help customers choose the right products. It is just like talking to a person, which means you don't have to write anything. You just speak, and the voice-bot does the rest. Sounds interesting, doesn't it?

Download Tata Capital's personal loan app with voice-bot TIA here -

On-device assistants

Voicebots are globally growing in both popularity and capabilities. By making this AI-powered software innovation develop into a powerful on-device voice experience, voice bots will revolutionize the way customers talk with companies.

Conversational technology and voice assistance are buzzwords in India and also the rest of the world. Voicebots will surely boost rapid adoption since it adds value to the customer conversations but with more ease of usage and ability to simplify things in a seamless manner.

Also, voice bots like TIA have the ability to gather customer insights. This can help companies to not only enrich and improve the customer experience but also enable organizations to add transformative features to their products.