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Chatbot Trends in 2021

Jan 21, 2021 1:38:43 PM / by MindBehind Team

mb_chatbottrend_BLOG_TRChatbot has become an increasingly common concept in today's world and the chatbot industry continues to expand day by day.  Virtual assistants are increasing because of deep neural networks, machine learning, and other improvements in AI technologies. Of course, with the spread of chatbots, new trends have started to emerge. 

Chatbots are becoming increasingly influential in day to day life. These programs have been developed to aid in a range of industries, from simple banking transactions, to healthcare inquiries. Juniper forecasts  stated that chatbots will be responsible for cost savings of over $ 8 billion per annum by 2022, up from $ 20 million this year. Business Insider Intelligence estimates that up to 73% of healthcare admin tasks could be automated by AI, and the adoption of chatbots could save the healthcare, banking, and retail sectors $11 billion annually by 2023.Chatbot market is expected to reach approximately 2 billion 166 million dollars in 2024 and grow by over 28.73 percent between 2018 and 2024. Also, the chatbot market was valued at USD 17.17 billion in 2019 and is projected to reach USD 102.29 billion by 2025, registering a CAGR of 34.75% over the forecast period, 2020 - 2025.

Key Chatbot Statistics in 2021-2022

  • Outgrow stated that the finance, healthcare, education, travel, and real estate industries are profiting the most from chatbots.
  • 80% of businesses are projected to integrate some form of chatbot system by 2021. 
  • Chatbots are popular among both millennials and baby boomers. 
  • For the banking and healthcare sectors, chatbots will provide 4 more minutes on the average time saving when we compare with traditional call centers.
  • Messaging based banking bots will provide 70% cost saving for per chatbots' interactions in 2022.
  • $8 billion in cost savings in 2022. Lastly, successful messaging bot interactions is predicted to increase 93% in 2022. 

Chatbot Trends in 2021

Delivering the Humanoid Chatbot Experience: Personalized Chatbots, if you want to provide customer experiences and services similar to those provided by people, chatbots do not fall behind in this area. Late improvements in artificial intelligence and machine learning make chatbot services more human-like and more perfect.

NLO Technology for Automatic Calls Development: NLO is a serverless technology. This technology is of great importance for automated call centers. There is no specific time for service with this technology. This technology enables you to serve 24/7 to a wide range of audience. Chatbots allow people to communicate with your brand whenever they want. It provides information about your product when requested.

Faster Solving Problems: If you really want quicker explanations for your various questions, this job is getting easier with Chatbots. Quick answers to questions can be obtained by using hand-held devices such as tablets, smartphones and wearable devices such as smart watches. Today with the integration of chatbots and virtual assistants, users do not have to wait in line while making phone calls. This helps save time and ensure efficiency.

Better Insights and Consumer Analytics: To provide in-depth customer information, there is a need for a system that accurately analyzes large amounts of data and does not have any error scope. Chatbots integrated with artificial intelligence technology are used to provide accurate customer data, collect and automate data analysis. It also helps create personalized answers.

Personalized Answers: Consumers want to feel special and we make sure their satisfaction rates are high. In this way, their trust and loyalty to the brand increases. By looking at interactions and analyzing data correctly, personalized responses and experiences can be provided for each customer.

Being Fast and Effective: In today's age, the importance of time and efficiency is increasing. That's why end users don't want to waste time on complex systems. Losing time trying to solve the system causes them to turn to other alternatives. For this reason, they are looking for solutions that will enable them to be onboard correctly, guide them and achieve their goals in the shortest way possible. This increases both effectiveness and customer satisfaction.

Social media is aimed to dominate AI integration: More than 2 billion messages are exchanged between customers and brands through automated chatbot systems. User data from social media is collected in an unstructured way, which makes utilizing that data difficult. Integrating AI technology with social media markets can help you understand and follow different sectors of customer behavior, such as time spent online, the purpose of using social media, and preferred social media platforms.

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MindBehind Team

Written by MindBehind Team