AI technology adoption can be slow for businesses. Chatbots not only have bucked the trend, but they have also opened up the gap between customers and businesses in a way that no previous AI platform has ever achieved before. Chatbots can take over customer service reps by using AI technology and machine-learning advancements. What is Chatbots? A chatbot is an artificial intelligence program designed to mimic the communication with customers. Chat windows messages, voice and chat applications allow customers to interact directly with AI Chatbots. Why are chatbots important for businesses? Chatbots offer a speedy and enjoyable customer experience by offering troubleshooting solutions as well as an on-demand help desk and a personal assistant at once. It's more convenient and requires less time and effort for customers to communicate with chatbots. Artificial intelligence can quickly search through large amounts of data to find the most appropriate answer for the customer. Businesses using chatbots can reduce traditional tasks while simultaneously addressing different requests from customers. The speedy way of dealing with customer queries, combined with 24/7 support, can help businesses increase customer satisfaction. Chatbots can be integrated into websites, helping to increase conversion rates and provide a positive user experience. Juniper Research estimates that a business can cut down on 4 minutes per chatbot inquiry as compared to traditional call centers. Although there are numerous advantages to business making use of artificial intelligence chatbots, organisations should be aware of their limitations. Microsoft recently had a PR catastrophe with their Twitter chatbot Tay that began to imitate insulting tweets posted by other users, who were seeking to provoke an unintentional reaction. Microsoft shut town Tay in less than 24 hours and released an apology after facing an online backlash. The Twitter experiences of Tay demonstrate that even major corporations like Microsoft should be aware of how to safeguard themselves from such issues. What are the advantages of chatbots for companies? Ebay, Spotify, and Starbucks all use AI bot chat, to improve customer service. "Erica", a new chatbot is designed to assist customers in making better decisions about their money. The chatbot makes use of algorithms, artificial intelligence and predictive messaging to help customers make payments, check balances, make savings and transfer funds. Erica allows users to speak to each other via text or voice and then uses the information to provide insight to customers. Future growth While chatbots aren't going to replace human customer service representatives, a recent technology advisory firm study has shown that over 85% of customer service centres will be run by "bots." This is a digital age where consumers expect fast and reliable service that's accessible 24/7, 7 every day of the week. With satisfied customers and upgraded customer support capabilities, chatbots are meeting the demands of tech savvy consumers.
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