A I Chatbots to Offer Businesses Better Customer Engagements

access_time July 28, 2019
by   TechmavenitAdmin
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The year 2016 was a year that witnessed a robust demand for “artificial intelligence chatbots” by vast sections of commercial enterprises. And, the early trends emerging for the year 2017 show the continued popularity and use of chatbots across greater sections of commercial enterprises. Chatbot, short for chat robot, is a computer program that simulates human conversation or chat through artificial intelligence. Powered by NLP- Natural Language Processing technology- chatbots are built to mimic human interaction making them seem like an actual individual existing digitally. Generally, it is a human being that will chat with a bot, but applications are being developed where two chatbots can communicate with each other. Presently chatbots are more frequently used in applications such as ecommerce customer service, call centers and internet gaming and confine themselves to conversations regarding a specialized purpose like initial customer interaction and not for the entire range of human communication. Chatbots Ideal for Small Companies Chatbots provide companies with a slew of benefits that make installing a chatbot application a real win situation for all companies. This is especially true for smaller companies as they can make do with fewer resources and achieve greater financial gains. Chatbots offer 24/7 uninterrupted service and will respond to people’s queries at any time of the day or night and intelligently engage potential clients. Chatbots are easy to deploy and do not need regular maintenance. They are highly customizable and capable of carrying out a wide array of tasks because of their inherent flexibility. Facebook messenger is a case in point Chatbots Increase Productivity Businesses view the installation of chatbots as a great way to reduce costs, remain competitive and increase the productivity of their organization. These chatbots can automate tasks traditionally performed by humans at a vastly reduced rate and bring in great cost benefits. A case in point is Slack’s chatbot, known as Slackbot, which works like an AI virtual assistant that can schedule appointments and follow- ups, answer simple  questions and file expense reports etc. Business enterprises of all categories will find such chatbots immensely beneficial as it scales up their productivity levels Increased Use by Banks The financial sector, but more especially the banks, are using chatbots and other artificial intelligence instruments in increasing numbers to augment their customer service space. IBM Watson is their favorite choice as the Watson chatbot  can analyse and interpret all of their data including unstructured text, images, audio and video. Banks are convinced that there would not be any job losses as these new tools will only complement staff. Quick Response Time Compared to human beings, a computer program like chatbot will answer queries much quicker. Moreover, with its machine learning and multi tasking abilities, chatbots make for a highly efficient virtual assistant that can revolutionalize customer interaction metrics Improved Conversions Chatbots have the ability to study past search data and based on this, it can offer customers the best shopping options that customers are likely to be interested in. Such suggestions can induce enthusiasm among customers and promotes for better interaction. Customers are more likely to go for these suggestions and this could ultimately result in increased conversions If your business then is one that deals with customers on a regular basis, they are likely to have constant issues or questions and building a chatbot is an easy way to streamline that interaction by providing customer with a faster and more efficient method than a customer service representative.  

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