What are Chatbots and Why Are They Such a Big Opportunity?

Chatbots In the Age of Customer Experience

In a world where customers expect more than ever from their favourite brands, companies are struggling to stay ahead of the increasing demands of clients. Advertising is everywhere, which means that organisations need to do something new if they want to appeal directly to the right customers.

Fortunately, combining machine learning intelligence with AI systems like instant messaging apps could be the easiest ways to connect with and serve individual customers. Chatbots converse with humans through online services, responding to questions using FAQ information to stimulate a natural conversation.

Until recently, chatbots were nothing but a dream for the science fiction world – but now they’re more popular than ever. As businesses around the world look for ways to interact with customers without over-spending on their budgets, chatbots can be the key to guiding consumers through the buyer journey.

What is a Chatbot Anyway?

A chatbot is a service that’s powered by information. Sometimes, artificial intelligence is involved, and other times, chatbots simply gather information from a directory. These responsive mechanisms can be interacted with through a chat interface, helping to serve customers and answer repetitive questions.

A chatbot can range all the way from a simple communication solution to an advanced customer service strategy. On one side of the coin, you have a basic rule-based chatbot that knows how to respond to specific user messages. On the other side, you have an AI-grounded chatbot that can understand conversational phrasing and learn from previous conversations.

How Businesses Benefit from Chatbots

In the communication world, some tasks will always require the creativity and emotion of a human. For instance, marketing, sales, PR, and even more advanced customer service can’t be handled by a robot. However, where chatbots show their value is in the less skills-oriented spaces of interaction.

For instance, in a hospital or healthcare setting, it might be possible to use a chatbot to automate the process of allowing patients to book appointments with a doctor. For this process, no interaction with a human is needed, and the use of artificial intelligence and natural language processing could mean that patients can essentially serve themselves.

From a practical perspective, investing in chatbots could allow companies from a range of different sectors to reduce their overhead and improve their efficiency. They wouldn’t need to bring as much staff on board to deal with repetitive tasks, and the workers that are present in the industry would waste less time on less important projects. This means everyone has more time and resources to focus on growing the company and offering an exceptional customer experience.

Chatbots Will Continue to Evolve

While the popularity of chatbot solutions is certainly growing, there’s plenty of work to do before these solutions emerge as a viable alternative to all human-centric customer support. As the trend for chatbots continues to grow, developers will continue to focus on making these machines more intelligent and capable of offering natural human experiences.

In the meantime, it’s likely that some industries and verticals will have an easier time adapting to the chatbot revolution than others. The adoption of chatbots, for instance, might be lead by sectors like finance and healthcare due to a range of structured processes that are more suitable for automation.

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