MEDITECH Partners with Nuance for delivering AI-powered virtual assistants for the Healthcare sector

Publisher: The Insight Partners

Chatbots have been a buzz since last few years. Chatbots are on the rise and are witnessing a huge adoption in technology companies. Chatbots are opening new way of doing business and serving customers. Chatbots offers conversational experience powered by Artificial Intelligence (AI), which enables real-time chat interface with users or customers. It is based on the Machine Learning, which gather conversational modulation and responds to spoken or written request to deliver the services. Chatbots offer numerous benefits to businesses such as cost saving, increase in sales, improved customer satisfaction, brand visibility, targeting new customers, gaining deeper insights of customer’s preferences, and others.

The exponential growth of data in early 2000’s and the development of smart algorithms along with increasing need of effective businesses, enterprises are adopting Healthcare Chatbots.  With the continuous improvement in natural processing language, AI, and data processing speed, businesses are shifting from command-driven Chatbots to virtual assistance Chatbots.

Top Chatbots Trends-

•           Virtual Assistance- Smartphone users are using virtual assistance to make the functionality of the phone much easier. With the increasing use of virtual assistance, Chatbot providers are combining multiple applications into a single platform to accelerate business growth. Apart from conversing with customers, Chatbots even utilize additional common messaging channels such as Skype, Facebook Messenger, and others.

•           Customer Analytics- With the increasing demand for in-depth customer insight, the company requires a system for analysis of a large amount of data in real-time. Chatbot providers are offering solution integrated with AI for the collection of customer data and real-time analysis of it. It also provides insights for the improvement of the success rate of businesses.

•           Natural Language Programming (NLP) - NLP offers improved human experiences and makes Chatbots interactive.  With the implementation of NLP, the e-Commerce sector is highly benefitted in terms of providing enhanced customer services. E-Commerce companies are adopting NLP to handle complete interactions between customer and machine. It allows users to interact more naturally. Companies are making considerable investments in the development of Chatbots with NLP technologies.

•           Speech Enabled Chatbots- Speech-enabled Chatbots are gaining popularity and are an essential component in providing improved user experiences. One of the examples of speech-enabled technology is ‘Amazon Alexa.’ BFSI sector is also witnessing a huge adoption of speech-enabled Chatbots. Speech-enabled Chatbots are playing a key role in the customer engagement process. It provides customers with quick and personalized interaction.

•           Integration of CRM- Integration of CRM with Chatbots is having multiple advantages such as single message window, and it addresses various issues. Chatbots can also organize the tasks and do follow-ups on regular activities. Microsoft has integrated the Chatbot with its CRM solution, which enables businesses to push Chatbots into customer service workflow. The government and BFSI sector are witnessing a huge demand for Chatbots integrated with CRM solutions.

Initiatives for the Development of Upgraded Chatbots

Chatbot developers are facilitating to meet the continually increasing demand for advanced Chatbot from their respective clients. Attributing to the fact, the solution integrators are pressurizing the market players operating in the Chatbot market to design customized Chatbots with advanced features; these Chatbot market players are increasingly focusing on partnerships and developments. Some of the recent developments in the market include-

•           In 2019, Artificial Solutions signed a partnership agreement with Deloitte. According to the agreement, the Deloitte professionals would be able to use Artificial Solutions’ conversational AI platform, Teneo to cater to the increasing demand for natural language applications.

•           In 2019, MEDITECH announced a strategic partnership with Nuance with the aim of delivering AI-powered virtual assistants for the Healthcare sector. Meditech Expanse would be integrated with Naunce’s Dragon medical virtual assistant to enhance the physician and patient experience.

Future of Chatbots

     •    Advancements in technologies such as AI, virtual assistance, predictive analytics are expected to positively impact the demand for Chatbots.

      •    Social messenger application will drive Chatbot marketing.

      •    Deep learning will help in increasing the adoption of Chatbots across the industries.

      •    The reducing cost for the development of Chatbot will fuel its adoption in startup firms