The Chat Bot Revolution
Significant developments in AI and the rapid proliferation of messaging applications have led to the growth of chatbots. We will surely come across a multitude of tasks that are performed and executed through messaging apps and software. It is no wonder that Juniper’s new research finds that chatbots will lead to a cost savings of $20 million in 2017 which will multiply to a whopping $8 billion by 2022.
It’s here that we come to the crucial point. Does the widespread popularity or increased usage of these bots point at a specific opportunity? Does it actually talk about a trend that’s going to rule the tech arena in future? Finding answers to these crucial questions is what we plan to do with this blog!
The recent developments in the world of chat bots
Chat bots have come a long way from just being communication aids to integrated messaging software. Companies are taking a keen interest in providing services and solutions around this technology. Cases in point –
- Microsoft’s own bot framework to allow development of chatbots
- Facebook acquires Wit.ai
- IBM acquires Cognea
App usage recession
There’s no denying the utility of apps even till this day! Dynamic, highly functional, and innovative applications have completely transformed the way people work and do business. However, things began to change from 2015. Apps weren’t the ‘hot’ property anymore as the app market was struck by severe recessive forces.
If we refer to what Google has to say about this, we will find that an average user has nearly 36 applications on his smartphone. However, 80% of those apps aren’t used regularly. That explains the situation quite clearly. If you want your app to get noticed and used on a daily basis, it has to be relevant and rank amongst those few apps which find applications in day-to-day functioning. While social media apps are the most popular ones, it is the gaming applications that follow suit.
The emergence of Chatbots
What we need to find out is how chat bots are different from apps? Are they reincarnations of an application or distinctive entities? Let’s take a look!
Businesses today share one point of similarity. Each of them strives hard to ensure 100% satisfaction for consumers. Whether it’s a small-scale business or a huge venture, customer service and support are critical to its growth and development. It is here that chat bots enter into the scene. Every consumer or buyer will wish to gain personalized experiences while associating with a brand and chat bots can make it happen for them.
What’s the future for chatbots?
We can’t depend or rely on technologies entirely when it comes to ensuring 100% customer satisfaction and support. Human intervention is always necessary. However, chat bots ensure logical, transparent, and clear communications. You will have them right within your applications, and no matter what you speak will get recorded. So, there’s no chance of ambiguities or confusions.
As far as the current market trends suggest, chat bots are heading towards a bright future. Let’s keep our fingers crossed and wait for the final results!
