Businesses tend to be slow to embrace AI technologies. Chatbots not only have bucked the trend, but they have also bridged the gap between consumers and companies in a manner that no previous AI platform has ever achieved before. Chatbots could take over customer service reps by using AI technology and machine-learning advancements.
What exactly is Chatbots?
A chatbot is an artificial intelligence software program designed to replicate conversations with customers. Chat windows messages, voice and chat applications allow customers to communicate directly with AI Bot Chat.
Why are chatbots important for the business?
Chatbots offer a speedy and enjoyable customer experience by offering assistance with troubleshooting and a help desk on demand and a personal assistant all at the same time. It's easier and requires less effort and time to talk to customers via chatbots. Artificial intelligence is used to efficiently browse through large volumes of data and choose the most relevant answer for customers.
Businesses using chatbots can reduce routine tasks while efficiently handling the various demands of customers. This quick method of handling questions from customers, coupled with the ability to provide 24/7 support helps businesses improve customer loyalty.
Chatbots can be integrated in websites, helping boost conversion rates and to create an enjoyable user experience. Juniper Research estimates that a company could save an average of 4 minutes per chatbot inquiry as compared to traditional call centres.
While there are many business benefits to using AI chatbots, organisations must be aware of the limitations. Microsoft recently had a PR catastrophe with their Twitter chatbot Tay that began to imitate insulting tweets posted by other users who were intentionally trying to provoke an inappropriate reaction. After facing backlash via social media, Microsoft closed Tay down in less than 24 hours. The Twitter adventures of Tay demonstrate that even major corporations like Microsoft should be aware of how to guard themselves against these issues.
What are the benefits of chatbots for companies?
Brands like Starbucks, Spotify and Ebay are using AI chatbots to enhance the customer experience. "Erica", a new chatbot is created to help customers in making better money decisions. The chatbot makes use of algorithms, predictive messaging, artificial intelligence, and algorithms to aid customers in making payments, checking balances, saving money, and transferring funds. Erica allows users to communicate using text and voice. Then, she uses the data to offer information to customers.
Future growth
Although chatbots can't be expected to replace human customer service representatives A recent study by the tech advisory firm predicted that more than 90% of customer service centers are operated by "bots." We are living in an age of digital technology where consumers expect fast and reliable service that is accessible all day 7 days a week. With satisfied customers and upgraded customer support capabilities chatbots are catering to the demands of tech savvy consumers.