Whenever I am hungry, I ask my Whole Foods Bot, “What’s in my fridge?” Within seconds, the bot reveals that there is a mayo sandwich, broccoli, sprouts, cabbage and some sweets available. Isn’t it ravishing to have such a bot?
In the modern era, bots have revolutionized services, which is why every business desires to have a chatbot. Since bots simplify tasks, it has grown to become the guardian angel for businesses along with customers.
Talking about the need for chatbots for the business world, it was MIT professor Joseph Weizenbaum who introduced the first bot named ELIZA in the 1960s.
Later Facebook allowed app developers to have bots integrated with Messenger, which started helping companies in connecting to the customers enthusiastically. All customers are available online and bots help businesses be available to the customer 24X7 even when a live agent is unavailable.
Read More: How can Chatbots Improve Customer Service?
Since chatbot is a communication interface, it can work in a super-realistic manner same as human agents to bring customer satisfaction for companies.
Recently the Samsung's Neon, which is a venture from Star Labs, brought NEON "artificial human" in CES 2020.
#AI can play a marvellous role in bridging connectivity b/w people & machine by inducing humanness in conversations & the #Neon, an artificial human prototype, conceptualised by @pranavmistry, CEO, @Samsung’s #STARLabs is a step forward in that direction.https://t.co/kUbZFLvnIo— STPI (@stpiindia) January 25, 2020
Pranav Mistry, CEO, Samsung’s STAR Labs says Neon is more than a voice assistant bot! Rather it is a video bot, which understands customer preference and responds to inquiries depending on the same.
Samsung reveals that they hope companies will use Neon to serve customers in yoga instructors, financial advisors, etc.
Neon is more than just voice assistants like Siri and Alexa. Neon appears on-screen, learns from customer requirements and delivers life-like responses thereafter. The bot is programmed to work as TV anchors and actors that are available over a license or subscription.
Moving forward, when we talk about the introduction of bots, it was introduced to handle call answering services for companies. However, with modifications, it started serving a broader section.
Service providing firms like call center companies not only use bots to answer repetitive inquiries, but they use it to make their services easily accessible to the customer.
Lets’ take a look at some famous bots:
When we talk about personal connect with bots, GoalBot is a great example. The bot reminds the user about the pre-defined goal to accomplish in the time to come.
Imagine a bot reminding you of your constant failures in accomplishing the monthly goals. The bot asks, “Hey, what’s the status?” You say, “Goddamn I failed again!”
This bot sends daily prompts. It uses cognitive behavioral therapy to know the user’s mood. Stanford psychologists and AI experts created WoeBot with the aim of helping people.
Woebot highlights that bots are not just answering agents but can also have a personal connection with the client.
With these perks of AI-driven chatbots, companies started realizing its significance in building a customer-business relationship.
Nevertheless, companies always questioned its credibility and authenticity and even said that bots will eat up job opportunities of live agents. Well, it is not very true!
Take the example of Facebook’s virtual assistant M being vanished!
When Facebook introduced the M bot, it brought fantastic perks to users. ‘M’ could connect through the users’ Facebook app and helped in reserving tables at restaurants, changing flights, sending gifts, etc.
Nonetheless, it became a cost center for the social media giant, as the bot required more and more people.
Source- The Verge
Since M had the power to connect customers to service providers, developers tried to automate all tasks of M. However, M fell short!
The biggest drawback that M faced was that Facebook did not put a restriction on what was asked to the bot to do.
Well, it is obvious that it is just a BOT and not a human agent. After all, the need for a live agent will always be there!
With AI-driven bots being introduced rapidly, everyone thought it to be the next big thing, but not fully!
Moving further, in today’s growing economy, bots are not just limited to acting as answering agents developed to answer customers 24X7. However, political interests also use them.
Nonetheless, any violation or hateful speeches can lead to the bot’s termination.
Recently, Facebook suspended Benjamin Netanyahu's chatbot.
It was because it violated hate speech policies. The step answers the questions raised on bots’ authenticity. Chatbots are created to simplify tasks and can be terminated easily in case of any possible threat.
Facebook’s spokesperson said, “After careful review of the Likud campaign's bot activities, we found a violation of our hate speech policy. We also found that the bot was misusing the platform in the time period allowed to contact people. As a result, we temporarily suspended the bot for 24 hours. Should there be any additional violations, we will continue to take appropriate action,”
Moving next, bots also benefit HR personals:
Bots help in conducting interviews and simplifying recruitment processes for HR professionals. It also help the HR team know about the unhappy staff that are planning to quit.
Chatbots like Amber talks to employees and tries to find out the reason, which is compelling them to switch. It helps organizations avoid attrition by solving the employees’ concerns beforehand.
BPO companies mainly face the threat of increasing staff attrition. As agents here flee early due to the monotonous work environment, so business process outsourcing companies can use Amber to avoid attrition disputes.
Bots also help companies make their services available to the customer 24X7. Bots even simplify answer to the customer and easily forwards the technical calls to skilled agents when there is a need.
To understand more about the ways organizations and consumers embrace voice assistants and chatbots, check below:
The business field leverages AI chatbots a lot.
Banks are one of the biggest buyers of the latest technology and it is not new to know that bots are already complementing their services.
AI-powered bots iPal for ICICI banks and HDFC Bank’s e-virtual assistant Eva are already in use.
With the increasing benefits of bots for multiple service providing companies, it is understandable that they are brilliantly bringing a personal connection between customers and businesses.
To get an improved understanding of the increasing market of assistants, check out the pie chart below:
Conversely, the significance of bots is also highlighted with the fact that different age groups of people are happily accepting its services.
Although these bots have a large number of young users, the 60+ generation is also trying to understand its perquisites.
Customers above 60 do not deny using bots over smartphones and say that they would love to try it. Check out the graph below to underhand the increasing frequency of people relying on bots:
Undoubtedly, chatbots are the best alternative to addressing several business challenges, which is why it is today an obligatory need. The operational and management perks of AI-driven bots helps to drive a personal approach, which is why customers love its use.
Since bots help to save time, give swift real-time response 24X7, save money, augment productivity, and manage data, thus they are the success and profit drivers for businesses.
Has your company integrated an AI-Chatbot yet? If NO, then hurry up!