Chatbots came marching one-by-one, hurrah, hurrah! While chatbots have been around for about 35 years, they’ve been multiplying in droves lately. There’s good reason these intelligent machines are gaining traction, especially in the business world. Business owners want a virtual assistant to be available on demand, any time of day, to aid visitors and have human-like conversations, answering virtually any question thrown at them. Enter today’s chatbot!
Present day developments in AI (artificial intelligence) are also fueling the rise of the chatbots, as these smart machines are now able to perform tasks including speech recognition, natural language generation, image recognition, text to speech synthesis, and so on. And as intimidating or peculiar as they seem, they are incredible tools doing necessary business functions. In other words, they are saving companies time and helping them serve their customers in ways that matter most.
Check out these Top 5 Chatbot insights for the future:
2020 – 85% of customer interactions will be handled without a human agent (Gartner Report)
2021 – 50% of Enterprises will spend more on chatbots than mobile apps (Gartner Report)
2022 – $8 billion in cost savings from the use of chatbot conversations (Juniper Research)
2023 – 2.5 billion hours will be saved by businesses and consumers combined (Juniper Research)
2024 – $1.3 billion will be the overall market size for chatbots in the world (Global Market Insights)
So, it appears the march of the chatbots will become more prominent as time also marches on. The main reason here is their capability of offering customers an advanced 24-hour CRM (customer relationship management) system through an innovative channel used to promote products and services, hand out incentives, and make visitors aware of the latest offers.
Virtual Assistants – Chatbot on Steroids
Modern-day chatbots leave no stone unturned when it comes to AI-powered virtual assistance. Using chatbots, you get a virtual assistant who relentlessly:
- answers clients’ needs and questions in real-time
- boosts your clients’ Customer Experience
- supports sales with targeted promotions
- generates opportunities to integrate other content tools
- helps you improve loyalty programs
In addition, most marketing platforms have chatbot builder built in, and you can create your virtual assistant in a few simple steps. It’s a streamlined tool you use to create autonomously customizable chatbots for your brand. The entire goal is to entice prospects into conversations that will generate conversions. You don’t need technical skills or coding ability to build a chatbot either! Thanks to an intuitive, drag-and-drop system, you can create your chatbot using a graphical interface and launch your virtual assistant in minutes. And virtual assistants should be proactive, interacting with people by asking specific questions to collect useful data for user profiling purposes.
In conclusion, we are in the gateway of human-machine interaction, speaking to virtual assistants instead of using mice, keyboards and touch screens. Make no mistake, the future belongs to chatbots and companies are loving them because they offer new ways for customers to engage on a 24/7 basis – exceptional customer support. If you want to remain competitive in today’s business world, you’ve got to automate as many processes as possible. The chatbot will not let you down!
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