It’s no surprise that robots have managed to penetrate people’s subconscious so strongly — they started early! From cartoons to live action, robots have always been a human fascination. Be it Rosie the Robot Maid in Jetsons, WALL-E the trash compactor robot, Optimus Prime in Transformers, or the ultimate Robocop, we've come up with some awesome robot visualizations.
We've always seen a future with bots around us, making our lives easier.
And now is the time for chatbots to shine!
Where Do Bots Stand Today?
Before we get into the future of the chatbots, let’s see where chatbots stand at the moment. Frankly, the launch of the chatbots has been really shaky, with bots only being assumed as FAQ substitutes or as buggy programs that annoy the customer rather than help them.
But this didn't stop bot developers — and nor did it stop Facebook from doubling up on planning to develop chatbots faster, better and more powerful!
The promise, the speed, and the optimization that this technology gets along with it is what makes people look up to it. With more well-trained bots in the market, bots will likely end up replacing humans in many industries — saving money, saving time, and improving efficiency.
Where Is the Future Driving Us?
Facebook is making huge investments in providing a rich environment to developers and businesses looking to develop, explore, and expand in the field of chatbots. Neural networks will become way easier to understand and tap into, making APIs of their own and allowing developers to pipe in and hit the ground running with their own contextual apps — without all of the NLP hassles.
With all this, Juniper Research in the U.K. "forecasts that chatbots will be responsible for cost savings of over $8 billion per annum by 2022, up from $20 million this year." In fact, these savings will likely increase exponentially as the bugs are worked out and the chatbots are able to provide more and more customer service. After all, each chatbot inquiry saves several minutes of customer service time and most of the cost associated with the service.
How Can Industries Benefit From Using Chatbots?
Industries that need staff to perform repetitive processes are the best candidates for utilizing the benefits of chatbots. Though certain communications can only be carried out with a human touch, bots can still overtake industries like marketing, sales, e-commerce, customer support and management, talent, and employee engagement. This allows for a reduction in overhead expenses and an increase in efficiency.
So, far the entertainment industry is the largest industry benefit from chatbots — from news and media publishing companies that have been using chatbots to share their content based on customer needs to a Doc Brown bot developed to promote Back to the Future's anniversary. Publishers and big media brands can also share sponsored and branded content through bots.
Chatbots need to integrate with e-health records to get started with basic patient data. They can then use the data to provide patients with information on medications, reminders, appointments, and surveys. Basic symptom determination and matching to known ailments is also something that bots will become more adept at.
Chatbots can go a long way in the automobile industry in regards to saving money and improving efficiencies. The industry is very customer-centric and is based on questions ranging from very basic inquiries to important issues. A chatbot can help a customer solve queries related to car price and features, scheduling a test drive or a service, insurance reminders, making payments, and customer feedback surveys. Moreover, automobile recall notices now have a chance of being delivered directly, increasing the chances of the recall being read and acted on ASAP.
Customers expect lightning-fast responses and want the purchase process to play out nice and easy. Moreover, the surge in mobile e-commerce has raised the bar as organizations need to accommodate ever higher volumes of traffic. Chatbots are thus an indispensable tool that allows businesses to attract clients in a personalized manner. For regular purchases that don't require too much browsing but that can still benefit from personalization, chatbots are perfect notification channels.
In the end, it’s all about the benefits you can get from a chatbot. Businesses dream of high ROI and always-on service that is cheap, intelligent, and effective — and bots can provide just that.
Chatbot platform development is fluid and rudimentary at this point, and the market for AI is still nascent. Currently, text-based customer service solutions offering question-based responses are a big driver for bots. There is a massive opportunity to remove friction points in customer service processes and port them to interactive bots that help consumers work through the most common decision steps. The bots can even help promote cross-sells and up-sells. On the user side, voice and proactive AI will be changing our interactions. Bots will read our emails and send reminders about meetings, as well as read our heart rates and make health suggestions. Enterprise chatbots will pull in data from across businesses and external sources to make intelligent business management suggestions. Chatbots can be used in any and every industry, and it's only a matter of time until they take over.
By: Priyanka Arora