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Chatbots, or virtual assistants, are innovative tools that aim to make human-computer interaction easier. They are two of the newest tools which rule every sector especially in banking, which is meant to make human-computer interaction easier. So, let’s understand what is chatbot.

What is Chatbot?

A chatbot is AI software that can imitate a natural language discussion (or chat) with a user via messaging apps, websites, mobile apps, or the phone.

If you are looking for an AI-powered chat tool, O-Chat by ONPASSIVE is an ideal product. O-Chat is integrated with CRM and analyzes the urgency of the consumer and escalates as needed.

Types of Chatbots

A chatbot for an eCommerce website is very different from one for banking. In the same way that individuals differ in their personalities and abilities, chatbots differ in their look and activity!

• Menu/Button-based Chatbots
• Linguistic Based
• Keyword Recognition-based Chatbots
• Machine Learning Chatbots
• The Hybrid Model
• Voice Bots or Speech Recognition Chatbot

What is Speech Recognition Chatbot?

Businesses have begun to use speech recognition chatbots or voice bots to make conversational interfaces even more colloquial. Why have been voice bots on the increase for the past few years, from Apple’s Siri to Amazon’s Alexa? Because of the benefits they provide. Speaking rather than typing is far more convenient for a customer. Voice bots provide customers with frictionless experiences.

Benefits of Speech Recognition Chatbots

Users are growing increasingly interested in and demanding technology solutions. Both chatbots and voice chatbots must match the expectations and characteristics of those same talks if they are to be as comparable to human talks as possible. Customers want you to eliminate waiting time and provide responses that accurately answer their questions. Whether it’s through text or voice,

Nobody enjoys conversing and receiving a response that has nothing to do with the issue. In such circumstances, you might as well direct the user to live chat with humanitarian aid. Check out the Benefits of Speech Recognition Chatbots below:

Human-Like Interaction

As previously said, speaking is far more natural than writing. As a result, unlike written letters, you will receive exchanges that are more spontaneous and less planned. This spontaneity is beneficial to your chatbot since it expands its knowledge base and develops its AI by responding to diverse requests.

User Experience Improved

The accessibility and user experience of a company’s website and communication channels are vitally important to them. If a chatbot already enhanced the user experience when travelling to your website, the ability to converse with it enhances it much further.

Multitasking Enables

The voice option, which is also connected to the customer experience, allows the customer to do other things while speaking with your chatbot. This, along with the others, improves client happiness by allowing them to continue doing what they’re doing while communicating with the bot.

Reliable Solution

Despite being a nearly non-existent element (thank goodness!), there are still illiterate persons who have not learned to write for whatever reason. Aside from that, some persons have motor limitations that prevent them from using keyboards or other tactile devices. Voice can be an excellent way to include and demonstrate that all of your consumers are valued.

Uses of Chatbot

There are various uses of chatbots which include:

• Appointment scheduling or Booking bots
• Customer support chatbots
• Marketing and sales chatbots
• Entertainment bots

Conclusion

To create a chatbot, you can take a variety of approaches and employ a variety of tools. Some chatbot technologies are more appropriate than others depending on the use case you wish to solve. Combining multiple AI forms such as NLP, machine learning, and semantic understanding may be the best solution for achieving the necessary outcomes. Contact us to know more about O-Chat.