WHAT IS CHATBOT?
This term consists of “chat” which means conversation and “bot” which means robot so the word in overall means “a robot for conversation”. Chatbots are artificial intelligence (AI) software’s designed to imitate oral or written.
Human speech and provide assistance service to users. Chatbots that are commonly used in current service sectors are needed to answer questions, receive feedback and answer complaints. These algorithm-based bots mainly act as support operators and in customer service they offer rational and fast solutions by imitating human speech.
Basically, chatbots are developed with Natural Language Processing (NLP) system algorithms and work by processing words and finding a natural response. On the other hand, they understand target language with Natural Language Understanding (NLU) and answer by processing words. This way, you can do various operations on these chat robots that has advanced AI.
SECTORS THAT USE CHATBOT
Steve Worswick received annual Loebner award given to most successful chatbots two times with his chatbot called Mitsuku and he suggested that everyone will have a virtual assistant in the near future. On his BBC interview, Worswick stated that technology is indispensable for humans and robots and humans will communicate more in near future. At the same time, his report showed that number of firms that will use chatbot will reach thousands by 2021. Opus Research reported that 35% of consumers want brands to use chatbots. In this sense, one of the advancements is using chatbots in almost every business field. As Conversational Commerce has become widespread, firms can generate solutions to their customers in the fastest way possible with the help of chatbots.
Banking and finance sectors are commonly using chatbots. With chatbots that enable fast banking operations via phone, both institutions and customers can be at ease and keep customer satisfaction level higher with less effort. This technology that automatically collects and analyses data and offers 24/7 services can be used in sectors such as tourism and shopping and have key role in mutual relationships. You can check our “Banker Chatbots Are Coming!” blog post to learn more about this topic.
LESS POPULAR BENEFITS OF CHATBOT
Chatbot technology has been popular in various fields including human resources, order and marketing and this technology is one of the important starting points for advanced customer satisfaction. Word processing and understanding capacities of chatbots that are created with AI algorithms conducts fast scans to best reply customer demands. This way, brands can produce most effective solutions for their customers. Additionally, since they offer their services 24/7, they will provide accessible customer support.
Other than that, chatbots can track customer data to reach leads more quickly and turn these leads into customers. These digital assistants equipped with AI can be an important application to identify potential customers and leads or which services do current customers need by analyzing user purchasing behavior.
You can take your business further with these amazing chatbots that can single-handedly complete tasks of multiple individuals at a faster pace. You can contact us to learn how AI-supported chatbots can contribute to your business and hear about our solutions. The world is changing, catch the future with us.