The Possibilities of The Future of AI Chatbots For Business

The advent of messaging and chat programs such as WhatsApp and Snapchat have changed the face of communication in the last few years. A lot of people use chat to communicate instead of email. The possibilities of the future of AI chatbots for business are huge. 

It is not surprising that nowadays, Millennials prefer to interact through chat applications rather than through email. In addition, chat is extremely convenient to use on mobile devices. Businesses can communicate more effectively with consumers using conversational interfaces (chatbots) for websites.

In this article, we will find out the possibilities of the future of AI chatbots for business.

 

What Exactly Is a Chatbot?

 

Think about a scenario in which you are a few weeks away from receiving the promotion you wanted. However, you must update the information on your business card. 

Using the messenger application of your company, you may initiate a message discussion with the chatbot. You find that your chatbot is far more personable than the command-centered robots of the past. They use these expressions, such as “sure,” “no problem,” etc. The conversation feels personal.

Unexpectedly, your chatbot can obtain the template from a prior order, which was out of anticipation. Because of this, his attention has been attracted to the fact that your position has been modified. The overall user experience is pretty positive.

You may purchase new business cards in a very short period without having to fill out any forms or log into any special software. The finest aspect is that your order was placed using ordinary language, which is the most convenient portion.

 

The possibilities of The Future of AI chatbots For business

 

To find out the possibility of the future of AI chatbots for business, we need to overview some research first. According to Drift’s research, The State of Chatbots, the following usage of chatbots will be most popular shortly:

 

• In an emergency, getting a rapid response 37 percent of the time
• Stopping complaints and issues (35 percent)
• (35%) Getting detailed answers or explanations
• Resolving issues through human contact (34%).
• Reserving a room (33 percent)
• An application for a loan (28 percent)
• 27 percent of shoppers purchase a basic item
• Obtaining ideas and motivation is necessary for making purchases (22 percent)
• (22 percent) of people who join mailing lists are simple to use

Stats on chatbots and e-commerce

 

Sixty-six percent of respondents prefer messaging to calling customer support. In more than half of cases, customers like communicating with the company before making a purchase. Business Insider predicts that 80 percent of enterprises will use chatbots by 2020. According to Foye, banks will automate about 90% of their client contacts by 2022. All this makes the possibilities of the future of AI chatbots for business very high

In the e-commerce and marketing industry, chatbots represent the next major wave. There are over 2 billion messages sent and received each month. Chatbots are popular on commercial websites, according to a recent Facebook study:

An upcoming Spiceworks survey revealed that 40 percent of companies with 500 or more employees intend to use chatbots on mobile devices for their businesses.

The majority of consumers are open to using chatbots to make everyday purchases, such as groceries. Furthermore, 13 percent of consumers have used chatbots for high-ticket purchases. More than a third of major companies use artificial intelligence in marketing; another 31 percent plan to use the technology soon. According to Opus Research, a total of $4.5 billion will be invested in chatbots by 2021.

Customers expect chatbots to offer rapid responses to inquiries, fix difficulties, provide thorough answers to questions, and assist them in locating a real customer care representative, according to the results of this study, which are highlighted below.

What is the operation of chatbots?

 

If we understand artificial intelligence thoroughly, we could get extremely technical in this discussion. Here are the operations that a chatbot can do for your business.

• Let’s imagine you are chatting with an automated chatbot on Facebook Messenger. To buy something, such as beans, you have to find it and want it in a normal process. After the chatbot receives and processes your message, it is sent to the backend.
• By utilizing natural language processing (NLP), the chatbot translates the direct text input into code.
• The chatbot’s goal is to shut off all data as quickly as possible once the conversation is over. You are asked how many beans you are interested in purchasing, so it enters your information in a decision engine.
• You can have your e-commerce chatbot ask you as many cans of beans as you would like to purchase by generating natural language (that’s how computers write). The response is routed through natural language processing to the decision engine.
• When it comes to cleverness, this is where it takes over. Chatbots can provide you with information about the beans you are interested in and the stores that have them based on pre-existing information. After that, it will list the price of the beans.
• When the payment gateway approves your order, the chatbot places your order. Several days later, your beans will arrive.

 

What are the benefits of including chatbots in your marketing strategy?

 

If you want to remain competitive in today’s technology-driven industry, you must automate as many operations as feasible. Consider how the introduction of self-checkout lanes at several supermarkets has lowered labor costs.

The following are the advantages of utilizing chatbots in your marketing strategy:

 

1. Be resourceful with your time and money

 

Put chatbots in charge of customer service, and you’ll save time and money. After that, you’ll be able to put those funds into projects that will bring in new clients.

Between 2015 and 2016, the number of social messages requiring a firm response grew by 18%, according to Sprout Social’s study. Use this to get an idea of how much time a conversational interface can save you.

2. Identify and develop new prospects

 

It is possible to deliver exceptional customer support by using chatbots. The first question a salesperson asks you is, “Why are you visiting our website?” Automated lead qualification while simultaneously collecting email addresses for email marketing.

3. Achieve better outcomes

 

Visitors to a website can find what they’re searching for more quickly with the help of a chatbot. Customers can ask inquiries of a chatbot, and the bot can direct them to the right area.

4. Four-hour, seven-day-a-week customer support is provided

 

Consumers prefer chatbots that respond fast in an emergency, according to Drift’s study. Generally, there is no one left to serve the customer online when the office is closed. You are unable to perform this assignment. After regular business hours, a chatbot can still assist.

5. Using a chatbot is a lot of fun because of this

 

When you can have an intelligent, fascinating discussion with your new robot companion on your smartphone, why bother picking up the phone or sending an email?

Conclusion 

That’s all from this review guide! Do you have enough information about the possibilities of the future of AI chatbots for business?  There are so many advantages that a chatbot can bring to your office. Moreover, a chatbot makes your business run well. If you want to run a business in the coming days, you will need a chatbot.

Therefore, all the benefits explain the possibilities of the future of AI chatbots for business. By monitoring user data, chatbots may follow purchase trends and evaluate customer behavior. This data can help firms sell their products more effectively. Similarly, bots may collect input by asking basic questions to enhance products or websites.