The potential of artificial intelligence (AI) within the property management industry has long been discussed, and we are now witnessing real-life applications of the technology that deliver significant and far-reaching business benefits for users.
One great example is Conversational AI which offers a digital yet practical approach to delivering great customer and employee experiences through smart, purposeful context communication. But what exactly is conversational AI and how does it work to benefit you, your landlords and tenants?
What is conversational AI?
Conversational AI is the technology behind human-like interactions in automated messaging applications. It uses Machine Learning (ML), specifically natural language processing (NLP), to interpret language and intent in the messages sent by your customers and respond to them efficiently in a way that mimics human conversation. This helps your business engage with tenants and owners more accurately and naturally.
How does conversational AI work?
Unlike traditional chatbots, conversational AI eliminates the need to write scripts and dialogues in the background and instead relies on ML and NLP which builds on the messaging application using algorithms. These algorithms are gathered from user inputs – such as text and speech, which AI recognises, learns and analyses. As more inputs are gathered over time, AI is further enriched and gets more refined in recognising sentiment, patterns and making predictions – improving its ability to create context conversations in automated responses.
Benefits of conversational AI for property managers, owners and customers
- Nurture leads efficiently
With conversational AI, prospective tenants are able to get the information they need through intuitive messaging in real-time, which leads to a higher likelihood of them converting to customers. In turn, you’re able to streamline the lead qualification process, as data gathered by AI provides you with the insights you need to prioritise leads and fill listings faster.
- Deliver great customer experiences
With sentiment analysis present in conversational AI, the customer context is understood and identifying your customers’ emotions towards your business is easier. You’re able to provide personalised service, offers and content to deliver a great experience. This also means you’re able to provide customers with the support they need to resolve their specific issues, as well as offer your team deeper insights into your customers’ preferences when it comes to tailoring your services and offerings.
- Improve employee satisfaction
Because basic tasks – such as enquiry management – can be done by AI, your team will now have more time to focus on high-value tasks and complex issues that require human interaction. Data from AI will also give your staff support on their efforts down the funnel, allowing them to achieve your targets and grow your business with less effort.
More on Conversational AI
To learn more about conversational AI and its application in property management, check out our on-demand webinar. You can also book a demo to see how our conversation AI product, enliven AI, works to support your business.