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Chatbots recently rushed into the focus of the spotlight of artificial intelligence. They remain a critical development and a client benefit, providing basic interfaces to clients to get the data they require without interacting with a customer. While the use of similar systems has been in place for some time, operating based on the abilities of language processing engines, chatbots took it a step further by allowing for additional depth within the conversation.

The bot revolution is still in the early phase, but the interest is clearly growing among consumers and businesses alike.

The Future of Bots

Currently, Facebook is working on creating an A.I. platform for your home. Soon, you will be able to talk to your house or car a bit like Ironman does in the movie. When your house springs a leak, your house’s bot will send you a text and offer to hire a plumber for you. Refrigerators will order groceries for us, and our lawns will mow themselves. As a result, many of our daily chores will be handled automatically.

Getting things done when you are out and about will become seamless. No more waiting in lines. Just send your bot a message and order. When your item is ready, the bot will alert you, and you can simply pick it up.

This will propel the restaurant dining experience into the 21st century. Imagine being able to walk into your favorite restaurant, scan a code and start a conversation with a bot.

The good news is that bots will do what apps hoped to accomplish but have failed to deliver. One day soon, you will have a personal bot (like mine) that will be able to do things, such as set up appointments, help with tasks, check your email, pull data for you and even give conversational updates to your friends, family and coworkers. It will integrate your entire digital life in one place, making it easily accessible and then automatically handling certain tasks for you.

My Prediction for Bots

What I predict will happen next is that bigger enterprises, such as banks, financial institutions, telecom operators, FMCG brands who are eager to minimize their call-center, customer-service and sales-point operations will create a tsunami of Bots and flood the market. This wave will hit in full force since the technology, and the capital resources needed to create it are already there. A bank doesn’t need to raise capital to implement a customer-service bot on Facebook Messenger to answer the most basic questions that customer service representatives receive by the hundreds every single day and reduce their CS cost by 15 percent.

At that point, the market will have a good understanding of what a bot is, what it can and cannot do. This will be a significant state, just as nobody knew what an App was when smartphones first appeared and then got the hang of it in about a year or so, the same will happen with bots.

Bots will be around for a long time not only because they are useful and create a monetary value, but also because they will become a fact of our online lives – think of the evolution of Email: it didn’t evolve much, but it is irreplaceable, and we cannot think of a connected life or a modern business without it.

Final Thoughts

While chatbots lack a certain level of sophistication, the potential for growth is there. Much of what will make them a success is finding the right problem for which they can be an ideal solution. Over time, as accuracy improves, their use in business may outweigh their potential for customers, especially when customers prioritize speed when asking simple questions.

 

Posted by Maya S.