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FrontdeskAI 2020 Predictions: The Rise of AI Assistants

VMblog Predictions 2020 

Industry executives and experts share their predictions for 2020.  Read them in this 12th annual VMblog.com series exclusive.

By Srivatsan Laxman, CEO of FrontdeskAI 

The Rise of AI Assistants

According to Gartner, the number of companies deploying AI grew from 4% to 14% between 2018 and 2019, with conversational AI at the top of many corporate agendas. I believe conversational AI - in particular 'human-in-the-loop' and use-case specific AI assistants will pave the way for future waves of AI adoption. They will allow companies to pilot, achieve proof-of-concept, and culturally adapt to the future role of AI within their organizations.

Here are some of my predictions on how conversational AI will make its mark on business next year and beyond...

The days of chatbots killing customer love are numbered: The rise of conversational AI assistants will make chatbots irrelevant in many customer-facing use cases.  While the big global technology companies will continue to invest in cracking the code of bringing AI assistants to the mass consumer market, companies such as FrontdeskAI, that are laser-focused on solving the specific business problem of front desk customer engagement, efficiency and productivity will win big. Conversational AI assistants that understand context, learn as they go and are easily customizable will rapidly replace the limited, linear chatbots that have failed to live up to their promise of improved customer engagement.

$75 billion business dilemma will find a friend in conversational AI assistants: Franchises and location-based businesses will increase investments in front desk optimization and automation.  These organizations will increasingly invest in conversational AI assistants for their front desk operations in order to help counter the estimated $75 billion in lost revenue caused by poor customer services such as missed calls, slow response to leads, and front desk attrition. 

AI assistants will help businesses manage the shift to a deskless workforce and gig economy:   Some 80% of the global workforce (3 billion people) work in a deskless environment, while ~1% of the world's software is designed with this workforce in mind.  Technology tools, such as conversational AI assistants, that create consistency, connect the dots, and help provide centralized intelligence and analysis will be key.  Similarly, as more employees work on a contract or project basis, the knowledge they gain around an organizations' process and customer engagement simply dissipates when they move to their next gig.  In the case of front desk teams, conversational AI assistants will play a critical role in capturing the intelligence of customer engagement patterns and maintaining consistency - thus operational efficiency - in front desk processes.

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About the Author

Srivatsan Laxman 

Srivatsan Laxman is an entrepreneur with expertise in machine learning, artificial intelligence and data privacy. His work has spanned many different application domains including, conversational artificial intelligence, search & ads, bioinformatics, computational biology, computer security and manufacturing. As the co-founder and CEO of FrontdeskAI, he is building powerful, highly customizable, automated front desks via voice and chat for local businesses. FrontdeskAI creates AI solutions for the unsung heroes of the global economy - the small business.  FrontdeskAI has democratized the AI market by bringing affordable and tailored solutions to main street. The company is the fastest adopted AI solution for the salon and fitness studio industries and Srivatsan is proud to be a leader of an amazing team.

Published Wednesday, December 04, 2019 7:44 AM by David Marshall
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