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To Bot Or Not? The Rise Of AI Chatbots In Business

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To Bot Or Not? The Rise Of AI Chatbots In Business

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  1. To Bot Or Not? The Rise Of AI Chatbots In Business Source: Forbes

  2. Today, chatbots are everywhere. They’re your personal shopper; they send notifications about your pizza order. Chatbots can update  your bank account balance or serve as your hotel concierage and this digital-transformation trend appears to be on the rise. Source: Forbes

  3. According to CITI research, Facebook Messenger chatbots are developing 70 percent faster than iOS apps were at this same stage in their life cycle. Up to 80 percentofsurvey respondents said they planned to use some sort of chatbot by 2020—and for good reason. And according to juniper research, businesses using chatbots could save $8 billion per year by 2022 in banking and healthcare alone.

  4. But chatbots have not only captured the attention of brands and their eager consumers—improvements in natural language processing and artificial intelligence (AI) have also created a fertile ground for Chabot technology in all business sectors, including B2B. With the rise in Chabot adoption, the question for many business leaders is: How do I know if—and when—I should capitalize on this digital trend?

  5. To Bot or Not? • The question of whether and when to implement a bot will likely come down to its potential to streamline customer service, business processes, and data management. Below are just a few further qualifying questions top executives have begun to ask themselves.

  6. Does my budget fit what I’m trying to achieve? • Chatbot pricing varies wildly, depending on the complexity of the system. A more simple text-based customer Q&A, for example, can be cheaper to implement than an artificial intelligence system that aids users with bookings. According YoavRimon, a former Google employee and co-founder of Chat Leap, a marketing automation platform for instant messaging, there are three main pricing avenues.

  7. Chatbots of the Future • There’s a lot to consider when it comes to implementing chatbots as a business tool. In addition to questions of quality and cost, leaders must fully understand organizational and customer needs before they land at chatbot technology as a solution. • However, there is also plenty for decision makers to look forward to. Although chatbots have not yet peaked in their sophistication, they are proving to be valuable across organizations. Their potential to develop and streamline company processes—like the language-learning process that powers them—is limitless.

  8. Singapore • JTC Summit ,8 Jurong Town Hall Road #24-05,Singapore, 609434 • +65 3163 4575 Australia Level 2,The Lantern,707 Collins Street, DocklandsVIC,Melbourne(Aus) +61 (03) 9005 8443 USA 77 Water Street,7th & 8th Floors, New York - NY 10005, USA + 1 323 744 7112 INDIA C-124, Phase 8,Industrial Area, MohaliNear Chandigarh +91 172 223 6860 www.netsetsoftware.com

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