What is ChatBot – Everyone is asking this buzz word especially if you belong to tech back ground. A Chatbot or “Chatter Robot” is a computer program that mimics human conversations in its natural format including text or spoken language using artificial intelligence techniques such as Natural Language Processing, image and video processing, and audio analysis. The most interesting feature of the bots is that they learn from the past interactions and become intelligent and smarter over the time.
Chatbots works in two ways- rule based and smart machine based. Rule based chatbots provide predefined responses from a data base, based on the keywords used for the search. Smart machine based chatbots inherit its capabilities from Artificial Intelligence and Cognitive Computing and adapt their behavior based on the customer interactions.
With the spread of messengers, virtual chatterbots that imitate human conversations for solving various tasks are becoming increasingly in demand. Online chatbots save time and efforts by automating customer support. The opportunities provided by chatbot systems go far beyond giving responses to customers’ inquiries. They are also used for other business tasks, like collecting information about users, helping to organize meetings and reducing overhead costs. There is no wonder that size of the chatbot market is growing exponentially.
This new generation of customers expects intuitive and seamless customer experience from the brands they engage with. They demand near real time response to their queries and expect more personalized recommendations/ suggestions from the brand. To satisfy these customer demands and to address the increasing competition in the business space, more brands/ businesses are turning their focus to build chatbots or virtual agents that can manage customer queries round the clock without any delay.
Consumers also benefit from chatbots and they are getting increasingly interested in this technology. Chatbots provide the assistance or access to information quickly and efficiently. They amuse people by giving them funny tips, they also help killing time when users have nothing to do. Chatbots fuel conversions and enhance social experiences. Chatting with bots also helps to avoid loneliness, gives a chance to talk without being judged and improves conversational skills.
Chatbots are currently seen on websites, social platforms and smartphones and are utilized as easy and fun ways to assist customers in their interactions with a brand. Even if the bot revolution is in its early phase, we can expect a lot more advancements in this field.
Chatbots will get embedded in almost all the interconnected devices that we use in our day to day lives. This will transform human interactions with digital business platforms and will open up new realms of personalized customer experience. The next generation of intelligent chatbots will be with more power to store, synthesize and recall data can possibly make smart purchasing decisions for you.
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