Are Chatbots the Future of Conversational Intelligence?
May 9, 2019
Today, customers have plenty of options to choose from and the margin of difference between the competitors is becoming lesser every day. The overall customer experience is one factor that mainly impacts their buying decisions. Delivering an exceptional experience is impossible with human effort only, which is why automation and intelligence are needed. The answer is Chatbot!
Chatbots have taken the business world by storm and they are becoming more intelligent or human than ever before. With its increasing popularity, more and more bots powered by advanced AI technologies are being used by several business owners to simulate more realistic conversations with website visitors & help them in getting what they need more accurately and quicker. Most of the bots are messenger-based enabling users to engage on their favorite platform like Facebook. Chatbot Solutions for Facebook has unlocked an immense potential to improve customer satisfaction. Let us find out whether it is correct or not to say that chatbots are the future of conversational intelligence!
What does the future hold for chatbots?
- AI Development Advances
Bots have evolved over the years making conversations feel more realistic and human with the use of Artificial Intelligence technology. Built with the ability to understand user context and provide real-time responses, chatbots are changing the way organizations communicate and connect with their customers. By feeding thousands of chats & their data, they can be trained to recognize important patterns that indicate the user’s moods like frustration/annoyance and respond to issues accordingly.
- NLP for Interactive Chats
With the motive to offer an enhanced user experience, Natural Language Processing (NLP) helps in making chatbots more interactive. NLP helps to understand the intent of the user text inputs rather than just provide the basic information. Based on various interactions that chatbot goes through, they are trained to help streamline the responses. Interpreting and answering users’ queries can be little time-taking, but the results produced makes it worth.
- Growth of Blockchain
With the rising popularity of cryptocurrencies, many chatbot developers have started making use of blockchain to develop their own crypto token and virtual economy inside its messaging platform. As blockchains create trusted & shared ledgers that track the ownership of assets, collaborating blockchain technology with AI chatbots will bring an automated way to manage assets in a trusted manner.
- Bots in Messenger Apps
Introducing chatbots in the messenger app industry has opened a new gateway for smartphone users helping them find relevant information anytime. The messenger apps, on the other hand, enable businesses to be online & operate on pre-programmed options. Chatbots provide customers the flexibility to use the app without the need for installation on your phone. Integrating bots in messenger apps allow businesses to respond to their potential customers at any time of the day.
- Lower Cost of Chatbots
As the adoption of chatbot increases across various business domains, the cost of chatbots is likely to get cheaper. Facebook, the social networking giant enable third-party applications to build chatbots in their messenger platform, which has helped them in lowering the cost. Some companies get their individual chatbots developed using predetermined menu options, that are easy to create without the need for high-level programming and eventually lowers the cost of making a bot.
- Consumer Insights & Analytics
To deliver in-depth customer insight, chatbots must be able to perform the correct analysis of a huge amount of data & respond to the queries with relevant information and free from errors. Bots can store the information about the specific question types that the user asks by reading them in a matter of seconds, predict user actions and escalate the conversation if required and resolve it as soon as possible.
Closing Statement
Whatever your user needs, your chatbot will be available to them to provide personalized answers & 24X7 assistance. This will not only save the time & effort of the customer agents nut also allow them to focus on work that is helpful for generating more business results. Big brands like Amazon & Apple has their own personal voice assistants/ chatbots- Alexa & Siri. Gartner believes 25% of customer support operations will use chatbot technology across their engagement channels by 2020. Before you plan to develop a chatbot, use Chatbot Cost Calculator to get an estimate now!