CHATBOTS & INTELLIGENT VIRTUAL ASSISTANTS

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1 CHATBOTS & INTELLIGENT VIRTUAL ASSISTANTS FOR PHARMA AN FAQ-STYLE GUIDE

2 Artificial intelligence (AI) is transforming businesses across industries and continents, allowing those who invest in the technology to leverage data, automate processes and gain or sustain a highly-coveted competitive advantage. The pharmaceutical industry is no exception and pharma companies who utilize AI technology like chatbots and intelligent virtual assistants to engage consumers will continue to widen the gap between those who have and haven t. If you re interested in getting started with a conversational AI solution but don t know where to begin, we ve got you covered. In this simple, FAQ-style guide, you ll learn: What exactly is a chatbot and an intelligent virtual assistant? How are pharmaceutical companies currently using the technology? And what real-world results are organizations experiencing? What is a chatbot? What is an intelligent virtual assistant (IVA)? Chatbots and intelligent virtual assistants are automated self-service solutions that emulate human interaction to perform particular tasks like answering questions, providing instructions, website navigation or making recommendations based on customer account information. The terms chatbot and intelligent virtual assistant are often used interchangeably and there is no standard definition that distinguishes the two. IVAs are generally more intelligent and sophisticated versions of chatbots, and not all chatbots are IVAs. Both chatbots and IVAs encompass varying aspects of artificial intelligence like machine learning, natural language understanding and logistic regression which enables the technology to learn, reason, improve and understand much like a human. What s contributing to the rise of chatbots and intelligent virtual assistants? In January 2016, the term "artificial intelligence" was not in the top 100 search terms on gartner.com. By May 2017, the term ranked at No. 7, indicating the popularity of the topic and interest from Gartner clients in understanding how AI can and should be used 1 as part of their digital business strategy. Gartner With tech giants like Amazon, Apple, Google and Microsoft investing heavily in artificial intelligence and intelligent assistants, it s clear that the technology is no longer a mere feature but a strategy to give each company a competitive edge. 1. "Gartner Says AI Technologies Will Be in Almost Every New Software Product by

3 With the ability to get smarter over time, garner actionable insights and perform tasks instantly and accurately, intelligent virtual assistants serve as a trusted and valuable resource for customers and employees alike. People are more comfortable with the technology than ever before and increasingly use it as a preferred method to do business and interact with brands. In a recent report, Gartner predicts that by 2018, at least 50% of new versions of enterprise software products will include some conversational capabilities and analysts predict that by 2020, AI technologies will be virtually pervasive in almost every new software product and service. 2 How do chatbots and IVAs impact customer service? Today s consumers demand accurate, relevant and complete answers to their questions as quickly and painlessly as possible. Intelligent assistant technology is perhaps the most compatible, userfriendly and scalable solution to address these demands. With the ability to interact with an unlimited number of consumers simultaneously on any channel (voice, chat, text, etc.), chatbots and intelligent virtual assistants offer a full-service digital experience by interacting with consumers in their preferred channel with no wait resolving issues quickly and delivering an end-to-end solution. The technology provides a platform for relationshipbuilding interactions and delivers delightful, onbrand experiences while providing insights into what consumers want to know so companies can adapt service offerings accordingly. Impact on customer service: Ensures consumers feel welcome, valued and respected Delivers consistent, fast and accurate resolution Provides onboarding assistance, including patient service programs Offers 24/7 self-service availability on any channel Transfers complete chat transcript to live chat for seamless transition and high efficiency Integrates with systems of knowledge to enrich and personalize digital experiences Delivers voice of the consumer analytics 2. Gartner Says AI Technologies Will Be in Almost Every New Software Product by

4 How are pharmaceutical companies using chatbots and intelligent assistants? Pharmaceutical companies are always looking for new and innovative ways to improve consumer engagement and connectivity and ensure consumers get the proper access and education they need for their medications. The widespread adoption of AI in our personal lives is also infiltrating our everyday experiences in how we interact with organizations and pharmaceutical companies are a prime example, as the relationships they foster with their consumer base are essential and powerful. A chatbot or intelligent assistant is designed to make healthcare management easier for consumers by providing personalized assistance and guidance to drive better outcomes. Here are a few ways pharmaceutical companies are using chatbots and intelligent virtual assistants to personalize the digital experience for their consumers: Delivering a warm welcome message to consumers Answering day-to-day questions about a specific condition or medication Helping with registration and enrollment for patient service programs (patient onboarding) Simplifying form interactions (getting on therapy) Supporting call centers (both internally and externally) Medication and appointment reminders with calendar integration Assisting consumers with medication refills and shipments Detecting consumer mood and service satisfaction Providing a hub for all consumer data Encouraging health assessments Tracking of symptoms and medication Journaling and reporting In addition to consumer-facing chatbots and intelligent assistants, pharmaceutical companies are also using the technology within their organization to help educate staff, improve the speed of service as well as increase accuracy and efficiency. Intelligent virtual assistants and chatbots are also well suited to help make call centers more efficient.

5 How can chatbots and IVAs impact business value? It s no secret that one of the primary reasons chatbots and intelligent virtual assistants have become so popular is in large part due to their ability to positively impact business value. The scalable technology can assist an unlimited number of users simultaneously, dramatically reducing costs by eliminating the need for customers to use live chat or call or contact centers. High rates of chat and call deflection equate to huge savings for companies, some even saving more than a million dollars a year in deflection costs. Internally, chatbots and intelligent virtual assistants are supporting agents and sales teams by providing them with the information or tools they need, when they need it the most, eliminating time-draining steps and assisting customers with the most personalized and accurate information. Additionally, chatbots and intelligent virtual assistants make consumers more informed and connected. With calendar integration, consumers can be sent reminders for appointments, medication refills, necessary assessments and more. Patient onboarding, including guidance on enrolling in patient service programs, can also be handled by the chatbot or intelligent assistant. All of these interactions help make consumers more adherent to their treatment plans and ultimately improve long-term outcomes. Conversations with intelligent virtual assistants and chatbots contain powerful, actionable insights. Consumers are telling businesses what they want every day and intelligent assistant technology makes it possible to truly listen and learn from those conversations at scale, so pharmaceutical companies can adapt and improve product and service offerings now and in the future.

6 What sets Next IT's technology apart? With over 15 years of real-world experience, Next IT has established the world s largest industry-focused data library, consisting of over 750,000 unique terms, over 2 million symbolic patterns of terms, 90,000 business intents, and over 165,000 unique actions that have been curated and validated by experts. Our Alme Platform is an inclusive, front-end agnostic platform with the ability to scale and extend human-emulated, conversational interfaces to smartphone apps, speakers, web chat, kiosks, social platforms and more. Alme powers conversations through chatbots and intelligent assistants to build relationships and grow them. With access to 56 plugins and counting, it's equipped with a business administration suite including out-of-the-box reports and custom applications to enable extension across an entire organization. Additionally, our professional services teams, unique methodology, and robust, secure system ensure that each and every client is set up for success. We support clients who are required to be HIPAA compliant and can configure each solution to support the pharmacovigilance group. We offer hosted, cloud and on-premises solutions that are specifically tailored to our client s needs, industry, use cases and KPIs to ensure every interaction counts. Who uses Next IT s technology? Discover what an conversational intelligent assistant AI can do can for do your for organization. your Visit

7 What are some of the business results of Next IT's clients? Leading Healthcare Company (IVA for Customer Engagement): (Results one year post launch) 22% of overall patient population taking specific medication using the IVA 90% of users reported liking the IVA as a tool for managing their chronic condition Those using the IVA demonstrated a significant increase in compliance and adherence Charter Ask Spectrum (IVA for Customer Engagement): 83% decrease in live-chat volume Experienced 5x ROI in 6 months 50% less time spent completing a task with IVA (vs. live chat agent) 44% cost reduction in the first year SWBC Ask Emily (IVA for Customer Engagement): 84% engagement rate with target audience Over 90% first-time submission success rate 48% decrease in calls to contact center Leading Financial Service Organization (IVA for Workforce Support): Saved over $1 million with reduction of internal how to calls Knowledge base of over 3,000 products and tools Answers 25,000 questions a day Ready for a demo? Contact Us. Info@

8 About Next IT Next IT is the provider of conversational AI systems for the Global We propel businesses into the intelligence revolution with AI technologies that are enterprise ready on day one. Our customers and strategic partners use our technology to build business-first AI solutions that put them a step ahead of their competition. By combining a proven cognitive platform with an advanced toolset spanning Natural Language Understanding (NLU), Natural Language Generation (NLG), machine learning, and conversation analysis, we ensure that every enterprise succeeds with AI now and in the future. Next IT. Where AI Means Business. Learn more at