Chatbots are modernised software applications used to conduct a text-to-text or text-to-speech interaction by leveraging Artificial Intelligence and NLP. It is also known as conversational agents that can be used through messaging applications, websites, mobile apps and telephones. Two different tasks performed at Chatbots are user request analysis and returning the response. It acts as a streamlined interactive platform between people and services to enhance customer engagement and market growth for an organisation. Chatbots are essential for industries to use for providing a face to the company, immediate availability to enhance customer experience and increasing the sale by providing sufficient information to meet customer satisfaction. The industries also require Chatbots to react promptly to enormous and unique customer enquiries 24*7 as well as gain meaningful insights for a better understanding of consumer behaviour. This disruptive technology can also access the history of customer interaction to provide a personalised service to each one of them.
Five current trends of Chatbots are:
- Chatbots are no longer machine-centric but it has started becoming more human-like for better-personalised interaction with the customers to solve their complex enquiries
- Businesses are ready to adopt virtual voice-assisted Chatbots to help in checking orders making purchases as well as maintaining inventory records for substantial market growth in a cut-throat competitive market
- Chatbots are helping organisations in digital payments for the products and services with the API of the chosen payment system where Chatbots can send a request to the API with a link for seamless payment
- Chatbots have started assisting HRs to detect the right candidate and eliminate the rest efficiently without any human intervention. It can even schedule interviews for the candidates and ask basic interview questions and other communications.
- Chatbots have attracted online visitors to sign up for long web forms for multiple events and initiatives by understanding the consumer through an engaging conversation.
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