The information age is regarded as the period of major technological advancements. It is delineated by the introduction of innovative technologies and mechanization of traditional applications which have led to the transformation of the world around us. According to IT experts, technologies including artificial intelligence, machine learning, cyber security, analytics, etc. have flourished in this era and caught the eyes of various business enterprises.
Chatbots are computerized applications powered by artificial intelligence (AI) and natural language processing (NLP) that can mimic human-like conversations. Various business sectors including e-commerce, banking and insurance have managed to surge their proficiency by replacing their traditional service applications with these modern bots. With the abilities to interpret and communicate in both textual and speech forms, they have worked consistently to improve the domain of company-customer relationship.
Some advantages of chatbots over traditional service applications include:
- Comprehensive Solution
Chatbots are a comprehensive solution that can perform various tasks and functions for the user. Like on an e-commerce platform, a chatbot can interact with users to solve their queries while it can also be used for sending personalized messages for company promotion. With multi-tasking abilities, they eliminate the need of installing diverse number of applications in the system. A chatbot serves as an all-inclusive application that benefits both enterprises as well as the users.
- Fast and Reliable
Chatbot solutions use language as an interface to mimic human conversations. Unlike traditional service applications, chatbots can connect with customers quickly to solve their queries. As they are operated and managed by an enterprise’s expert IT team, they can provide credible and reliable information to the customers.
- Customer Experience and Services
Customer services and support systems are known to determine the longevity of company-customer relationship. A recent survey indicated that businesses lose almost 68% of their consumers due to poor customer support. However, with 24×7 availability, chatbots can help customers, irrespective of time and space. AI chatbot solutions enable enterprises to attend and resolve customer queries at any point of the day. This largely helps enterprises in brand building and retaining their existing customers.
- Cost Effective
High traffic on websites consequently results in surged number of customer queries. This compels enterprises to employ increased number of customer service agents which ultimately increases training costs and capital investments. In such scenarios, chatbots help enterprises to achieve cost efficiency. According to the leading artificial intelligence service providers, the installation of chatbots is simple and cost effective, and it can serve hundreds of customers effectively while bringing down the total capital cost amounts.
With multiple utility offerings and advantages, chatbots have taken over many traditional service applications across a wide range of industry verticals. According to IT experts, chatbots will evolve with the advent of time to replace many mobile applications as well.