Chatbot Trends You Need To Know

Chatbot Trends You Need To Know
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A chatbot is an artificial intelligence software that can stimulate a conversation between a brand and a user in natural language via websites, messaging apps, or telephone. AI has been a topic of discussion among marketers for a long time now. It re-examines how businesses interact internally as well as with their customers. AI is crucial when it comes to using machine learning and dynamic analysis of automated business communications. 

Gartner research says that AI will be a major customer experience income stream in the next couple of years. Customer service chatbots will be used by 47% of businesses and virtual assistants will be deployed by 40%. 

The growth in on-demand messaging has changed the whole customer care game. Most of the companies have integrated chatbots in their workflows to reach the maximum audience, providing the way of communication that they want. Chatbots help businesses to improve customer experience and deliver great customer service. They have changed the way businesses interact with their current and prospective customers. 

Here are some of the chatbot trends that businesses must know to scale up their customer service.

Chatbots automate payments

Chatbots have radically changed the way e-commerce businesses serve their customers, manage lead generation, and automate transactions. In 2020, Chatbots Magazine found that 67% of U.S millennials are more likely to buy products and services through chatbots. Most businesses have adopted chatbots to automate payments and allow users to pay directly through live chat or apps like Facebook Messenger. The instant process saves the time of agents as well as customers and increases customer satisfaction. It makes the selling and buying process more conversationally where customers can ask questions and have multiple options according to their needs. 

Chatbots act more like humans

It is unavoidable that chatbots are becoming the driving force of business communications. According to Global Market Insights, the overall market size of chatbots worldwide would be over $1.3 billion by 2024. Keeping this in consideration and to keep the place in the market, companies are more focused on implementing sentiments-indicating chatbots with the support of AI, machine learning, and natural processing language. Chatbots along with AI help companies to develop better relationships with customers by providing them with a more personalized and tailored customer experience. 

Chatbots are getting common

Chatbots streamline customer care, marketing, sales, HR, and many other departments in an organization. Not just the process, they are also being used to streamline human resources and everyday activities including parenting, e-learning, exercise, etc. Exercise chatbots engage users with their weekly fitness routine and discover their preferences. They create time-consuming customized chatbot experiences. Moreover, Chatbots have been proved to be one of the most successful technologies in e-learning.  It simplifies the coaching techniques and acts as virtual assistants also. Chatbots for e-learning have become the new revolutionary way to fill the gap between technology and education. 

Chatbots and the use of AI 

Texting, digital assistants, chatbots, and many such technologies are driving customer services in call centers around the world. According to Chatbots Magazine, businesses can reduce customer service costs by 30% with the use of chatbots. Companies experience more cost savings when they upgrade from inefficient IVR technology to AI. Bots without humans are able to handle simple activities like changing passwords, scheduling meetings, requesting a balance, etc. Chatbots are able to reduce the human agents required in call centers generally and improve the employee attrition ratio which is due to the repetitive questions asked by customers in routine calls. They reduce the cost of employing staff 24/7 in call centers. 

Voice-Bots

People prefer communication channels that use both voice chatbots and text-based interfaces. Voice recognition software is more reliable and applied to specialized services. Voice-chatbot is considered as the future chatbot trend because as compared to texting, it can be time-saving. It can provide you customers with reliable data insights and correct information in real-time. 

 

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