Chatbots, a form of artificial intelligence, conduct chat through auditory or textual methods. Their purpose is to help businesses answer customers as any human agent would do.
Interesting, isn’t it?!
For instance, BPO companies generally use the assistance of chatbot software to bring the best service to their partners.
Chatbots also help to reduce the cost of hiring and training additional agents. In fact, Chatbots currently account for business cost savings of $20 million globally (Comm100).
In addition, they allow companies to automate common tasks, so their customers can receive instant responses to their inquiries.
Clearly, this type of intelligent software is made to better serve the customer and to simplify business management. Thus, why would a company avoid it?!
Understanding the Significance of ‘Bots
To understand the significance of ‘bots in daily life and business, answer this simple question…
Do you ever use Google home or Siri to answer your questions or to decide things for you? Well, then, you are already using chatbots to simplify your daily life!
If you’ve got a busy schedule, virtual assistants (i.e. AI chatbots) can be your best friend. If delegated to correctly, they are pros at task completion, and thus prove to be a great partner.
Businesses use ‘bots for these very same reasons.
Chatbots are known as the “conversational agents.” They mimic written conversation or recorded speech to interpret customer inquiries according to predetermined requirements.
How Chatbots Function
If you are curious to know how chatbots function, the heart of understanding lies in natural language processing or NLP.
The same technology also works to recognize voice interactions for virtual assistants like Apple’s Siri and Microsoft’s Cortana.
The ultimate objective of NLP is to read, decipher, understand, and make sense of the human languages in a manner that is valuable (A Simple Introduction to Natural Language Processing).
Check out the image for a better understanding:
(Image Source: Wordstream)
Chatbots Increase Productivity by Allowing Organizations to Respond on Multiple Channels
Audience interactions over online platforms have drastically evolved over time, and new technologies have made business-to-customer communication easier than ever.
Customer engagement is no longer dependent on the traditional phone systems to respond to queries.
Customers now reach out via website, email, text and social media. And, chatbots make it possible for businesses to manage the constant influx of communications.
For instance, as of 2018, there were already over 300,000 chatbots on Facebook alone (Venture Beat).
Don’t think you’ve experienced it?
If not, recall the last time you complained or commented on a company’s social media page. Did you receive a speedy response?
Here’s an example of when a company gave an instant response to a complaint on Twitter.
Hi Subham! We never intend to give such experience. We see that one of our case managers has contacted you & has addressed your concern. Request your understanding in this regard.-BT
— Myntra (@myntra) September 21, 2019
The significant point to note here is that such instant answering services are powered by AI-driven chatbots.
Any other questions? Because we know some ‘bots that have got the answers.
For more business tips and customer service advice like LiveHelpNow on Facebook or follow our business page on LinkedIn.
