ChatBots – The Digital Super-heroes have Arrived!

Sahil Chopra, CEO and Founder, iCubesWire explains, chatbots are just the digital human beings that imitate human chatbots through text or voice commands. This artificial intelligence driven technology reduces the tedious tasks of searches and yields better results thus making our lives simpler

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Chat bots are like digital experts working on the concept of AI wherein the answers are pre-fed in the system and are conveyed accordingly. So, when the user raises a query over the digital platform, the artificial intelligence decodes the question and starts communicating with the end user.

As per statistics 48% of the consumers like to connect with the customer care via live chat. Taking a cue from this fact, a lot of banking companies are striking the right chords with artificial intelligence and helping consumers with bank related queries. Not only does this solve the issue to a large extent, but a person is spared from the time-consuming task of physically visiting the bank and running from counter to counter to get the same information. Since, it is conversational; one doesn’t have to rely on emails either.

How is it making our life easier?
When a person is in a conversation, it’s easier to reveal more about their preferences. Chat bots impart a two-way communication which engages the users in a matter of seconds. Statistically, 40% of the consumers are indifferent whether a person or an AI program is responding to their query so long as the answers are imparted quickly and correctly. It comes across as an efficient process that works seamlessly to yield better results. Not to forget, it cuts short the long user journey to a bare minimum, as these chat bots remove the hassle of opening tabs and links which otherwise becomes a mundane task. The desired information is easily imparted on the spot. These bots can replace at least 15% of the calls to the customer care help desk. It is touted as a cost-effective means of catering to general queries. These phone calls otherwise become tedious with a lengthy process of dialing, responding to voice-over and waiting for the customer care executive to answer the query.

However, Chat-bots can solve only tier 1 issues through their knowledge base of the support system. There might be an escalation of an issue, which might be technically complex and might require an intervention of tier 2 support.

What does the future hold?
Future certainly seems bright and beyond imagination. The journey of chat-bots has just begun and there are futuristic concepts already taking shape leading to vast innovations for a variety of prospects. According to Gartner, by 2020, customers will manage 85% of their work without human interaction and 80% of the companies would want to integrate AI into their business. It will pave the way for a win-win situation for brands as well as end users and bridge the gap between them. The process of digitization will rise further as the communication is quick and convenient. However, the future is totally dependent upon the opportunities we bank upon in our present.



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