Those were the days when companies spent millions on human interference for customer support and query management. But the companies are evolving now and so are the customer service departments.
Instead of hiring customer service experts, companies are investing in developing Chatbots equipped with Artificial Intelligence (AI) to understand customer queries and auto-respond accordingly.
Use of Chatbots
Stats suggest that nearly 59% of total chats across industries involve AI Chatbots, and 70% of the users share positive experience post interacting with these bots. By 2020, these smart programs would handle approximately 85% of customer interactions.
If you believe AI Chatbots are only used on company websites and social media platforms, then you are wrong. Have you ever asked any question to Google Assistant or Alexa? These are nothing but few examples of most used AI-equipped Chatbots.
What exactly are Chatbots?
Chatbots, or Smart bots, are computer programs to imitate human conversation and respond through texts or voice using machine learning and AI. These are created for having a lifelike experience and usually in user-preferred language.
Its history dates back to 1950s when it was just a concept. Many robots were created in between to simulate human conversation and respond, such as Eliza, Parry, Jabberwacky. But actual AI-based personal assistant was launched in the year 2010 by Apple Inc. Yes, we are talking about Siri, which uses natural languages to answer or perform user-desired tasks.
Since then, many companies, including Google, Amazon and Microsoft, have come up with their versions of AI bots.
How do these bots work?
These Chatbots use Machine Learning (ML) powered NLP techniques to break down queries into understandable human languages and respond similarly. (NLP means Neuro-Linguistic Programming)
It means when you ask or place your query; the bot would either display or reply with an answer or ask a follow-up question related to your query.
For example, if you ask Alexa:
“How much a Kindle Paperwhite costs?”
Alexa will reply with the price of the e-Book reader but will also ask you:
“Would you like to buy this device now or should I add it to the cart?”
Alexa is a smart device equipped with AI that understands your intent and prompts you for purchasing the product instantly, or maybe later.
Few stats that suggest areas of improvements in the ML used to drive these bots.
Currently, only 27% of the queries are resolved using bots. Nearly 86% of customers believe there should be human interference when bots are unable to resolve queries. Apart from these numbers, almost 56% of companies claim disruption in their businesses by the use of bots.
Future of Chatbots
Currently, most of the AI-based bots are installed on the websites or social media platforms to respond in text. However, it is estimated that by 2020, 50% of the online search would be contributed by voice-enabled devices, and bots like Alexa, Siri and Cortana would be major contributors.
In contradiction to the belief and the stats suggesting the area of improvements, nearly 88% of customer experience professionals indicated that AI would enhance CX experts, instead of replacing them.
It is estimated that by 2022, Chatbots would save $8 billion of the business cost and show a business value growth of $3.9 trillion.
57% of companies believe that these bots deliver high return on investment (ROI) with minimal effort.
No one can deny the fact that Chatbots are the future of the customer service industry. From booking a flight to ordering your products online, everything would be taken care of by just talking to these bots.
ONPASSIVE, a technologically advanced marketing company, is also ready to launch one of its Chatbot. This bot would automate most of your day-to-day marketing activities, such as designing campaigns, posting ads, interacting with your clients and customers, planning events, placing orders, etc. But this bot would be available only for those who will join ONPASSIVE as Founders.