The rise of chatbots

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When in doubt, ask a chatbot? Artificial intelligence (AI) customer service representatives have become a go-to for businesses and question-seeking consumers alike.

Chatbots can communicate with customers through messaging, text, and speech. They are on multiple platforms, including WhatsApp, Facebook Messenger, Slack, WeChat, and SMS text messaging.

The Benefit

So, why should your business consider using a chatbot to help improve your consumers’ customer service experience?

The truth is, chatbots are becoming more of a necessity than a commodity. Ever-improving AI technology is setting the table for a seamless, simple, and customizable user experience.

Money Maker

Chatbots are not only there to answer questions, either. The technology has advanced to the point where they can accept and process payments and pitch in with advertising and marketing.

According to Business Insider Intelligence reports, Chatbots will be bringing in $142 billion in revenue by the year 2024. That number was only at $2.8 billion in 2019.

Can’t Wait

The main reason consumers may be drawn to communicating with chatbots is that they are available at any time. These days, people are looking for immediacy, and chatbots scratch the itch.

According to Business Insider, nearly 40% of internet users today prefer communicating with chatbots rather than chatting virtually with a live agent.

This may not have been the case in the past when the best chance for a consumer to get answers would come from speaking with a knowledgeable person.  Now, the advances in technology have closed the gap between man and AI.

Getting Smart

These days, AI can communicate in a fashion much closer resembling a human thanks in large part to advances in voice recognition and machine learning.

While voice recognition still has room to grow, major tech companies like Apple, Google, and Amazon have changed the game with virtual assistant devices Siri, Google Assistant, and Alexa, respectively.

In addition to better understanding questions and direction, chatbots are learning how to anticipate consumer questions and future actions.

With every person that a chatbot communicates with, the information they gather is stored and used to become smarter. Eventually, chatbots should be able to completely replicate (and improve) the customer service experience.

Having your customers talk to chatbots may seem impersonal compared to direct communication with a human employee, but they are quickly becoming the most efficient way to chat.

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