Today, technology has enabled organizations to offer a personalized experience to their existing as well as potential customers. Artificial Intelligence is playing a big role in the development of advanced technology solutions that are being adopted by a large number of organizations. The digital transformation wave has impacted every sector and it might bring unparalleled results for the betterment of businesses. Be it IT industry, health-tech industry, hospitality industry, or automobile industry, the organizations are embracing digital transformation on a large scale to stay competitive in the rapidly changing business environment. Rajeev Ranjan, Editor, Digital Terminal recently interacted with Mr. Mohar V, CEO and Co-founder, TECHVED Consulting, a leading provider of top services to help organizations accelerate their digital transformation journey. Mr. Mohar elaborated upon the current industry landscape, their services and the role of AI in the digitally evolving world. Read below the excerpts-
Rajeev: How do you see the increasing adoption of AI-based Chatbots to redefine the customer experience? What is the future of the AI Chatbot industry in India?
Mr. Mohar: Human-technology interaction has undergone a paradigm change in recent years. We have had several failures and weak conversational experiences in the past few decades for different reasons, which has restricted the user engagement and adoption in many sectors. It was difficult for companies to comprehend the "why and how" of enhancing their customer experience strategies. So, when demand increases, it requires re-examining existing needs. This was the early stage of technological development, and we needed to create ideas to help us deal with the issue. AI then came to rescue and Chatbot entered the digital world! It has proved to be an important method for everyday communication with customers, enhance lead generation, and customer service improvement, among other things. In this digital world, the use of AI-based Chatbots has increased to a greater extent; it is alive and well, redefining the customer experience for a better market.
For businesses in India, the future of AI Chatbots is soaring. Back then when there was no Chatbot, there was no personalized experience for customers which automatically brings no engagement for businesses. It was like an interplay, you provide some good, you get some good. That is just what the Chatbot has brought to the industry. Now that its usability has been widely embraced in our industry, Chatbots, in my opinion, would have a significant positive impact on the business world.
Rajeev: What is your vision for the ever-evolving Indian market? What are your plans to empower more businesses with your cutting-edge technology solutions?
Mr. Mohar: The vision is to empower the market with more digitally-driven approaches. The most common issue is that companies have a digital channel, but they don't have a solid strategy on how to use it to their advantage. I agree that today, every company is aware of the digital transformation; nevertheless, the vision I see is for organizations to be digitally empowered rather than just digitally informed. There's no question that Covid-19 has elevated digital services to new heights. But, today, it's just Covid-19; tomorrow, it may be something else entirely; circumstances will change, but the digital impact will keep on rising. Therefore, the industry needs to get digitally empowered and uplifted to survive in this uncertain economic thrive for their better and brighter future.
If we want to empower businesses, I believe we need to make sure that every piece of technology is being used to its utmost capabilities. I want to bring in more futuristic technology such as Blockchain, IoT, and so on to have a positive impact across a wide variety of industries and to help businesses succeed in this digital era.
Rajeev: How has AI impacted the pace of innovation in today’s digitally evolving world?
Mr. Mohar: Today, innovation is not only restricted to creativity, with its integration into AI, it has become more of it. It is about increase, enhancement, upliftment and change. I‘ll tell you how AI and innovation together have completely altered its definition positively for businesses.
Rajeev: What makes TECHVED different from your competitors?
Mr. Mohar: TECHVED Consulting is a firm believer in thorough research. We believe that it is important to know the details of the challenge before start solving it. Therefore, we begin by conducting research before addressing and resolving any problem. My USP is that we have a highly-skilled, amazing, and efficient team; they work tirelessly and dedicatedly to ensure that we achieve the best results as an organization. With our extensive knowledge of the digital world, we develop strategies that aid in the growth of business conversions. In my opinion, there should not be any space left for compromises since, they are the loopholes in the system that contribute to inefficient outcomes. As a result, the secret to developing the right solutions is to be consistent, reliable, and productive to make brands remarkable.
Rajeev: Please tell about your solution offerings for the Indian market. Which major verticals are you focusing to drive new growth opportunities?
Mr. Mohar: We have various services such as Customer Experience Strategy, Digital Transformation, UX/UI, Humanized AI Chatbot, Mobility Solutions, Accessibility Compliance, and so forth. We have designed many solutions that help businesses to be able to digitally uplift. We cater to top UX/UI Design, with creative and futuristic digital solutions to brands. Also, keeping in mind how a diversified country we belong to, we are coming up with our new initiative TECHVED BHAASHA which is a Multilingual Digital Service. We are working continuously to drive new opportunities in different sectors such as BFSI, Entertainment, Retail & E-commerce, Healthcare, etc.