Chatbots - A Rising Star

“Bots and chat make it easier for people to buy the way they want to, when they want to–and that should be the goal of any business.”David Cancel, CEO of Drift

Chatbots are a piece of software that helps in conducting a conversation via auditory or textual methods. These bots are designed to convincingly simulate how a human would behave or act as a conversational partner. They are the collaterals of artificial intelligence that sort out the perception and intelligence just like the human mind and thinking. Chatbots can range from a much simpler form to a complex one. The conversation is mostly programmed in such a manner that chatbots can process certain information from the user and give the output respectively, hence they can handle messages which are target based specific. So, a different style of conversation is not possible in the output process of chatbots.

How Chatbots is continuously buzzing around

Most of the chatbots today are based on the basic programming system like natural language processing (NLP), the use of a simple algorithm enables the chatbots to extract certain information and data from the universal language and use it further to create information. Business applications of chatbots for customer-facing goods are growing rapidly.

Over 59% of millennials and 60% of Gen Xers in the United States have interacted with chatbots.

And according to a Facebook survey, more than 50% of customers say they’re more likely to shop with a business that they can connect with via chat.

According to Gartner, “By 2020, 85% of our engagement with businesses will be done without interacting with another human. Instead, we’ll be using self-service options and chatbots.”

Additionally, according to an Oracle survey, “80% of businesses said they currently use or are planning to use chatbots by 2020.”

And while live chat, self-service, social media, and chatbots are relatively lower in terms of raw volume, the growth of these channels is staggering.

Source: Chatbotslife.com

Diversifying Presence of Chatbots in Today’s World.

Currently, the way we use the information is much like a one way, we ask for the information and we get the input, but this will change with the use of chatbots. Once in the use, chatbots will ask for specific information, concerning time and relevance. This will allow how bots can answer complex queries related to information.

Medical Information: Bots will be able to listen to your problems, complaints and help you in finding the nearest doctor or hospital based on your disease. Moreover, the best part is that it will remember your history and past conditions. Also, it will process the acquired information in the memory basis which will result in the most accurate information given in the session and enable additions in future interactions. Chatbots will also match up the given pictures and images to find as much information available specific to your case.

Customer Support 24*7: In recent years, chatbot for a website has become synonymous with responsive customer service. Zomato, Flipkart & numerous other retailers have already integrated virtual chatbot in their apps for hassle-free service to their customers and customers seem to love it. Chatbot platform through Messenger is another imperative piece of technology to follow. Facebook Messenger chatbot not only provides automated messaging to help answer or provide information, but it also serves as the central hub for a lot of social media-based marketing for some of the largest companies in the industry.

Education: Want information and don’t feel like reading a long article? How about chatbots telling stories as accurately as human readers? They can give a different experience of tones like a pause on a stanza, diction, word and the voice changeover. This will change the way of communication in the simplest yet effective way.

Messaging Apps:

With over 1.2 billion active users (close to the population of India), Facebook Messenger is the largest messaging app in the world. It recognized the importance of communication via messaging & is strengthening its brand via chatbot application services.

Actual examples of Chatbots through the Facebook Messenger – Sephora Booking & The Wall Street Journal

Sephora ChatbotsSource: chatbotsmagazine.com

Sephora has 2 Facebook Bots – Sephora Reservation Assistant & Sephora Virtual Assistant.

Sephora Reservation Assistant helps in booking the appointments for a customer to reserve a makeover at Sephora. It handles Natural Language Processing (NLP) and has seen an 11% increase in the conversational rate versus any other channel for booking in-store makeover appointments. The color match Sephora’s Virtual Assistant plays a key role as shade matching bot.

The Wall Street Journal Chatbots

The Wall Street Journal Chatbot makes it easier to stay on top of every recent news and stock quotes with the help of a Facebook Messenger. From customizing alerts by simply typing in merely basic commands, you can acquire the company’s information, key financial metrics, and livestock quotes along with the latest buzz.

Wall Street Journal Chatbot

Source: messengerchatbots.com

There are countless messaging platforms including Facebook & WeChat that have grown as a result of the rise in the popularity of chatbot. Even small companies are exploiting this opportunity by integrating customer service with chatbots that will mark their presence in the major leagues.

Summary

Although Chatbots are considered an emerging technology, they are maturing but they are quickly maturing and becoming a staple in many businesses, customer service, sales, and marketing operations. It is said that the technology could help save a whopping $8 Billion by 2022 for businesses. That includes affordable e-commerce development, saving on human-errors, crispier business operations, etc. There is a long way to go before we reach the absolute peak of chatbot technology, but the fact that people and industries are more open-minded towards it is a step forward in the right direction.

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