The Futureof Chatbots

Whitepaper

In the world of business, it is well known that the core of any successful relationship is quality two-way communication. If you work with end-users, you have certainly noticed by now that today’s clients insist on having excellent customer support ready and available to them at all times. Customer care teams have become a vital factor that makes the difference between more and less successful companies.

No matter which industry we’re talking about, demands from customers are on the rise. As companies begin receiving dozens of requests or concerns that need to be addressed, it can lead to an overwhelming amount of traffic for customer service. In addition, there’s a limited amount of people that a single business can afford to have on their customer support team to deal with these requests. Meanwhile, clients demand instant answers and advice on how they should solve their problems. Many companies can’t afford to have their customer care team work 24/7 - the number of hours that they’re available to clients is limited. By implementing an AI-based virtual assistant, not only would your employees have more time to focus on serious issues that need to be addressed, but they could also dedicate their time to the expansion plans of the business. Without having to hire additional people in your customer care department, you can extend your availability and the overall quality of the team. This is where chatbots come in.

While chatbots have been around for years and are far from a new, innovative idea, they have just recently evolved into more complex and sophisticated solutions by utilizing artificial intelligence. This innovation continues to be one of the most exciting and talked about technologies today. It has developed at a rapid pace and continues to evolve over time.

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INTRODUCTION

How much time do you dedicate to this crucially important aspect of your business?

Employees oftentimes don’t have enough time to give answers to clients’ questions immediately. Also, due to the vast amounts of repetitive inquiries, they often aren’t capable of playing the advisory role, which today’s users expect. Chatbots are integrated with all of the tools necessary to give the most adequate and expected service, which covers users’ unique needs. Automation of processes such as checking your account balance, applying for a loan or requesting an appointment are some additional functionalities that help improve overall service and reduce costs.

As it’s already been mentioned, the idea of a chatbot isn’t new - What is new is the way that Weaver works - it is not just a chatbot, but an evolved virtual assistant that boasts its advisory role which helps users make important decisions, apart from having a big answer base. Having all of the perks of the latest advances in technology, Weaver is set to become the name of the game in the world of AI.

New Frontier Group has decided to take advantage of artificial intelligence and create a platform whose core relies on its exciting capabilities: its advisory role, extended hours, and instant gratification. The manifestation of this breakthrough comes in the form of an AI-based virtual assistant: Weaver.

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TABLE OF CONTENTS

Chatbot Effect on B2C Companies 4

Introducing Weaver 6

Weaver’s Place in the Financial World 12

End-User’s Experience of Using Weaver 13

Implementing Weaver 14

Final Word on Weaver, the Hero Chatbot 15

The Company behind Weaver: New Frontier Group

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The way businesses handle communication with their customers, and deal with their multitude of inquiries, has become ever more vital. Today, clients demand greater user experience, personalization, and immediate feedback. Apart from having to know their customers, many companies aren’t ready to face the biggest challenge yet: having an adequate customer care team that is ready to take on the advisory role, as well as to be available to customers 24/7 and offer instant solutions. It should be any business’ goal to make their client feel secure and confident in the decisions that they ultimately make. Dealing with repetitive customer inquiries and investing employees’ time in handling them is in no company’s best interest.

At this point, we must also consider the clients’ perspective: while employees in a certain field of work may find it difficult to explain niche-related terms, everyday people simultaneously struggle in understanding them.

It’s precisely this group of people that may feel uncomfortable asking customer support what certain terms mean. As a result of this, people often end up making a decision that they later regret. Sometimes they may even give up on a business’ service or offer altogether because they don’t understand what they are being offered.

Ultimately, chatbot implementation fosters more satisfied workers and happier clients. Once employees are free from dedicating their entire shifts to addressing repetitive questions, they can focus their attention to more important aspects of the company. People who are less stressed are also more productive and creative, which means that a company with these kinds of employees will be able to thrive by integrating new technologies or coming up with better plans for the business.

CHATBOT EFFECT ONB2C COMPANIES

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Is it a commonplace occurrence that you end up with dissatisfied clients because they waited far too long to get a response? Even if it only took a minute? Since everything is expected to be ready and available to customers today, even a single minute can be crucial.

Chatbots have become virtual assistants. Their primary purpose is to give immediate answers to clients’ predefined inquiries, and to help them navigate their way through a business’ website or application. Today’s users don’t want to spend excessive amounts of time on websites and applications, trying to find answers to their simple questions. This usually comes down to lesser user experience. Implementing a virtual assistant solves this issue, as it can execute all tasks in no-time and serve as a guide to your customers.

QUICK SEAMLESSCONVERSATION

COST-EFFECTIVE

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By strengthening your brand and business, you consequentially get more satisfied users, and also new ones. Companies that listen to their clients are the ones that are the most successful. That’s why we encourage all businesses to take care of their customers and to always listen to what they have to say. Essentially, the main reason why any company would want to introduce an AI chatbot is because satisfied clients lead to more clients, which ultimately leads to significant financial gains. The integration of an AI chatbot platform offers companies a much more elegant and cost-effective business model.

This is where an AI-based virtual assistant comes into play.

Some of the greatest advantages of a chatbot in a business are its ability to play the advisory role, work extended hours, and provide instant gratification. Having one implemented, the need to engage your customer care team with repetitive activities gets eliminated. With a chatbot working by your side, your company can provide clients with 24/7 service without your having to employ an additional night-shift workforce.

Did you know that nearly 60% of consumers aren’t willing to wait on hold for more than one minute to get a response? (source: Velaro)

Have you figure out the challenges your business is facing on a daily basis, and how you might solve them?

What is Weaver?

INTRODUCING WEAVER

Weaver is a top-of-the-line AI platform manifested in the form of a chatbot that is an elegant and sophisticated solution to any company’s interactive needs.

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Weaver is based on natural language processing and is capable of understanding and processing nearly all world languages by implementing the NLU (Natural Language Understanding) concept. The platform is also capable of understanding a user even if there are typos in either textual form or voice messages with the help of the newest AI technologies.

Thus the conversation between the chatbot and a human being follows a natural flow - it effectively mimics a real-life conversation between two people. The stages that the conversation goes through aren’t precomposed, rather the unique mechanism decides what the next step, answer, or question should be, according to the information the client provides. It always takes the whole conversation into context and consideration, and only then does it decide what to say next. What makes Weaver stand out is that it can be integrated with any other business system within an organization. Because of this, the chatbot has the ability to give each user what they need and make the conversation highly personalized. This chatbot boasts many outstanding features, and users are allowed to ask it to help them execute many actions.

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Weaver can also initiate transactions, find locations, answer niche-related questions, and recognize when it’s time to call in a human being for more thorough customer service and support.

Weaver’s developers and founders take pride in their chatbot’s omni-channel presence. It’s because of New Frontier Group’s desire to be up-to-date with the latest AI perks and advantages that they made this possible. This means that Weaver can have seamless interactions between businesses and their clients, who have a single user journey, no matter which platform they use. The main benefit is that the communication data is centralized, no matter which channel is used.

Having a chatbot implemented on several different communication channels is the future of any business. Embracing this practice will ensure that your business is keeping up with today’s standards and will give your clients the helpful and approachable user experience every business should strive for.

Weaver is also multi-intentional, meaning that it is capable of processing end users’ statements that have more than one intention; meaning or context. Combining the AI module, context switching, and context filling, end users are able to converse with companies just like they would with any other person.

What separates it from other chatbots is that Weaver can simulate human-like conversations, and, because of the implementation of

What separates it from other chatbots is that Weaver can simulate human-like conversations, and, because of the implementation of

the latest AI advances, it can remember pieces of information from previous conversations.

Hello Michael, how can I help you?

Hey Weaver!

I would like toschedule a doctor’sappointment nextweek, sometime inthe afternoon.

Of course, just give me your full name and date of birth.

Alright, Michael. Does Wednesday at 3 PM work for you?

Let’s see; is 4:15 PM better?

M

M

Michael Joel Smith,03/05/1983

M

I don’t think I canmake it… whatabout 4 PM?

M

Good. Your doctor’s appointment is scheduled for Wednesday, October 12th, at 4:15 PM.

Any time. :)

Let’s see; is 4:15 PM better?

Yes, perfect!M

Thank you, Weaver!M

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Here are some of the main benefits of implementing Weaver in a financial institution: Cuts down on errors

Allows effective tracking of customers throughvarious communication platforms

Provides much more detailed and preciseprofiling of each customer

Allows for the promotion and upselling of offersdirectly to clients at a carefully calculated time

Completely adaptable to any business’requirements

Instant and effective human-like communication that leads to more satisfied clients

Works extended hours

Provides users with instant gratification

Plays the advisory role

Now that we’ve listed some of Weaver’s biggest benefits, it’s also necessary to address the key reasons why Weaver stands out from its competitors:

Weaver is a true AI chatbot, which essentially means that it isn’t a half-baked chatbot that only has the capability to give automated responses. The conversation always feels natural and goes with the flow.

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Weaver has a simple interface for setting up and administering the chatbot itself. This perk gives financial institutions the freedom to completely manage it on their own.

4.

Weaver solution integrates with all of the core systems of the company. Deep integration is the foundation of Weaver’s personalization capability. Based on users’ behavior and transactions, Weaver can give highly personalized offers because of this integration. It also helps registered users get personalized feedback, and it optimizes all of the inner workings of this as well.

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Weaver is able to do both context switching and filling. Context switching was implemented so that users can feel comfortable about changing their previously chosen inputs without disrupting the flow of the conversation. And, on the other hand, context filling allows Weaver to remember all of the previously mentioned details, and if one is missing, the chatbot will ask about that one only.

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The company that firmly stands behind Weaver has years of experience in the industry, and is committed to working together with businesses to reach the best possible results.

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If you want an enterprise solution that is going to benefit your business in the long run, Weaver is the perfect choice. Weaver is one of the friendliest, simplest, most precise and hardest-working employees the world has never seen.

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New Frontier Group is one of the largest leaders of digital transformation in Eastern and Central Europe, though it has continued to grow beyond all these borders over the years. It has subsidiaries with over 2000 employees in 15 different countries worldwide, among which USA, Canada, Russia, and Australia are just a few to be mentioned.

The company can also be found on Gartner’s list among the first 10 most successful business integrators in Central and Eastern Europe.

With Weaver, as well as their other products, New Frontier Group aims to support its clients through their own digital transformation by offering the latest and most innovative solutions on the market. Deploying enterprise applications for global players, large enterprises and mid-market companies is its

NEW FRONTIERGROUP

The Company behind Weaver:

that

Year after year, New Frontier Group proves digitalization and innovation are key

to any business’ success. Being adaptable and welcoming of change is what they take great pride in, and what it strives to pass on to its clients.

specialization. It has been delivering business value to its clients for years, and it continues to do so today. New Frontier Group provides its clients with digital transformation consulting services as the first step, and gets deeply engaged in business models. At a later point, it also engages in ICT projects that it adapts to existing infrastructure with the goal of protecting digital businesses from any potential cybercrimes. It also helps adapt corporate IT applications such as ERP, CRM, HR Systems and PLM so that they better serve the needs of the digital economy.

Because of its principal selling points, advisory role, extended hours and instant gratification Weaver is suitable for all finance-related sectors. You can ask Weaver to check your account balance at any time, and with the quick ID check, your current balance will appear.

WEAVER’S PLACE IN THEFINANCIAL WORLD

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Does your customer care team get loads of repetitive questions on a daily basis?

Have you introduced a solution to that issue yet?

Weaver can also resolve any issues that come its way as well as automate various processes, which is what makes it capable of keeping up and taking many steps at once.

For example, if you were to type "send 50e to my son," the chabot would immediately understand that you want to complete a transaction, how much money is involved, and who the receiving party is.

Hello, I would like to checkmy account balance

Yeah, here you go:+14168374928

Yes, it’s 89302

Hi, could you send me your number so that I can identify you?

Perfect! Can you send me the code that you’ve just received?

No problem. Glad I could help. Have a nice day!

Thank you, Mike! Your current account balance is 846,33€. If you need anything else, don’t hesitate to ask.

Alright.Thanks Weaver!

Your son’s account has just increased by 50 euros

Yes, please.

No, thank you.

Confirm Not this number

This is the third time this month you sent money to your son, amounting to a total of 100 euros. Do you want me to send a notification to your son that money has been sent to his account?

Great, please confirm his phone number: +14160478326

Notification message has been sent. Is there anything else I could do for you?

Glad I could help!

Hi George, how can Ihelp you?

Hi

I would like to send50 euros to my son.

/client chooses theaccount/

Please choose from which account would you like money to be transferred:

Great, I will transfer 50 euros from account 1167936782 to your son’s account 1163895478. Your card balance after this transaction will be 1320 euros.Please confirm this transaction

Confirm Cancel

a day, seven days a week.

Since Weaver has the

it can read through typos, and do both context filling

User experience is one of those tricky things to tackle because it’s sometimes difficult to imagine yourself on the other side, especially if it’s your own product in question. Many companies struggle with concerns that their clients won’t end up taking an interest in their product due to bad user experience. With Weaver working on your side, this obstacle is easy to overcome!

Weaver can do relatively anything that a human operator can do, if not more. The difference is that it never makes mistakes - in fact, it automatically corrects any kind of errors, and also never takes breaks. This chatbot is available to users twenty-four hours

NLP/NLU (Natural Language Processing/Natural Language Understanding) concept at its core,

context switching and , allowing it to smoothly keep up in the natural flow

of the conversation. As it’s already been mentioned, context switching allows users to change their inputs without disrupting the flow of the c onversation, while context filling is implemented so that the user won’t need to repeat all of their inputs in case they forget to insert one. If the user gave the necessary information beforehand, the chatbot would instantly remember it, and ask only about the missing one.

END-USER’SEXPERIENCE

OF USING WEAVER

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-

Hey, I would like to booka trip to Athens

Hello! Sure, when would you like to leave?

Ok! Would you like to book a room?

Fine, do you have adesired hotel?

Sure, let’s book a room in Thessalonikifor a week, starting on Monday!

On Monday, and stayfor a week

Yea sure, I would like tomake a reservation. It isme, and my husband istravelling.

Not really... But I wouldlike to change adestination if possible?Thessaloniki it is in theend...

me where the neeretHey Weaver, can you tell

ATM is?

Hello! Sure, I can tell you where the

share your current location with me.

nearest ATM is, just

I’m currently in Toronto,Dovercourt strret

Alright, great! The nearest ATM to your location is on the address 34 Dovercourt street.

Perfect, thank you!

You’re welcome

Research has shown that 51% of people who shop using the auditory method use it to research products. Out of that percentage, 22% of them proceed to purchase products through the voice option, and 17% of them use it to reorder products (source: Narvar). New Frontier Group has taken advantage of these statistics by giving its users the opportunity to be not only up-to-date, but also future-oriented.

Companies wishing to implement Weaver will experience no drawbacks when it comes to user experience - Weaver brings forth an impressive array of skills and ensures that dissatisfied clients become a thing of the past.

What makes Weaver stand out even further is that it is multilinguistic and multi-platform oriented. There’s no such thing as a language barrier for Weaver. Furthermore, both text and voice usage are easily understood.

OMNI-CHANNELEXPERIENCE

VOICEREADYMULTILINGUALISM

51% 17%22%

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End-users greatly benefit from all these features: they don’t need to worry about making typos since Weaver reads through them smoothly; they can freely change their inputs, and also not worry about having to repeat all of them when they forget to insert one; being multilingual, users can contact it using nearly any language, and that, through multiple platforms; and, being voice-ready, the chatbot supports both text and auditory methods. Having Weaver’s 24/7 availability on hand, also allows users get types of information, such as how much money they spent on Uber last month or on their trip. The virtual assistant also provides users with reminders and appointment-scheduling services without wasting their time being on hold.

That being said, Weaver has the ultimate recipe for customer satisfaction up its sleeve.

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Implementing Weaver may seem like a hefty job, but it is actually easier than one may think. Users don’t need to do anything to make this possible, but they are an important factor when it comes to creating a synergic scenario. Together we are set to get the best possible outcome. Furthermore, we offer an option to those who have Weaver integrated within their system to independently create their own scenarios, should they wish to do so.

Our team of specialists analyzes all processes and conversations with users through all the existing channels, Weaver also gives you the opportunity to integrate it with all of the core systems within your company.

No matter how universal their needs may seem from an outsider’s point of view, each bank has its own specific requirements. Considering this, companies that are actively trying to sell products to firms within the financial industry are experiencing relatively large drawbacks. Addressing every business’ unique needs is no easy task, and even though product sellers know this, they continue to put their efforts into something that may result in a poorly made decision.

Each and every bank has its own unique needs - Weaver has set out to meet them all in a quick and orderly fashion. Being available 24/7 to clients, providing the company’s employees with more time to dedicate to making important plans and decisions, and being very quick and easy to use, this chatbot will change the way business is being done in the financial industry. If you’re interested in finding out what else our super chatbot can do for your business, you can schedule a free consultation with one of our specialists. At New Frontier Group, we are always happy to give more detailed information on how our products can benefit your business and take it to new heights.

Getting a product that addresses a universal problem that a wide array of businesses has isn’t that simple. It takes a group of dedicated and hardworking and passionate people to develop a product that can aid just about any company in the world.

IMPLEMENTINGWEAVER

TELCOFINANCE INSURANCE

SUPPLY CHAIN AUTOMOTIVE RETAIL

With Weaver’s launch, New Frontier Group has proven that they have a platform that can be useful for just about any company in any industry out there.

We at New Frontier Group predict that all noteworthy companies will have this solution implemented in the nearest future.

Do you feel like your customer care team is overworked? If so, do you believe they deserve a compassionate coworker that is capable of handling all the repetitive inquiries in their stead? And would you like to attract new clients through advanced technology implementation that all companies desire?

Weaver is an enterprise solution whose reach can be spread to a global level scale. It was constructed to address some of the most common issues that companies have in an elegant and modern way. This futuristic approach is what its mother company takes the most pride in.

THE HERO CHATBOT

Final Word on Weaver

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It’s not only about being up-to-date, it is also about having a much more efficient solution to a challenge that’s been around for too long. New Frontier Group’s goal is to ensure that both your employees and your clients are satisfied with the business decisions you make. Through thorough research, New Frontier Group has come to the conclusion that education is key to any sort of success. That’s why we offer free consultations, so that we can help you find the answer to what’s best for your business. We like to approach each business differently, as no two businesses are the same. In other words, every business needs to have a unique plan that will pave its way to success. If there is such thing as a mutual solution for all businesses, we guarantee that it is Weaver.

Are you ready to make customer dissatisfaction a thing of the past?

Are you ready to become the game-changer in your industry and let others follow your example?