Chatbots are without a doubt one of the most crucial elements in modern businesses. From handling customers queries to resolving issues, chatbots are becoming more popular than ever. But where is the future of this technology headed?
In this article, we are going to take a look at some of the trends we may witness in the year 2020.
Conversational & Talking Bots
We are already witnessing the role of voice-activated bots with devices like Alexa and Google Home. However, this technology is yet to be incorporated in chatbots. In the new decade, we are very likely to witness chatbots that would understand what we speak. We won’t have to type in our queries in the chatbox and wait for the bot reply, we will only need to speak, and the bot would understand it.
The Indian telecom giant Reliance Jio has already taken a major step in this aspect. The company recently launched is artificial intelligence-powered video bot that understands what we speak.
Text Messaging Remains The Key Driver
Reports suggest that 68% of consumers believe that messaging is one of the most convenient ways to stay connected with businesses. And why not! Text messages are hassle-free and one doesn’t need to go to a website and check.
Text messaging is already a major part of businesses’ marketing strategy and when chatbots are incorporated into it, the customer service industry is going to flourish. To take the conversation to a whole new level, companies like Makemytrip and Bookmyshow have already started to shift to messaging platforms like WhatsApp. Chatbots are also being incorporated with platforms like Facebook messenger.
When it comes to solving a query, chatbots deliver solutions based on the data related to the current company and the market setting. And a major drawback about this type of chatbots is the fact that they need to be trained with new data, which is usually time-consuming.
But in case of self-learning or adaptive chatbots, these bots learn by themselves. They train themselves continuously and keep learning with every interaction.
One of the best examples of this kind of chatbot is the one designed by Facebook AI Research Group and Stanford University. The bot is designed in such a way that constantly learns and improve its speech based on other user’s feedback.
Incorporation Of Payments With Chatbots
Reports suggest that millennials today are more likely to make a purchase using chatbots. And once payment is incorporated, it would be way easier for consumers to do online shopping. It would also eliminate the need to visit a website if the chatbot and the payments are incorporated with text messaging.
Companies are working on different methods to make it happen. One of the popular methods is where a chatbot is equipped with the APIs of a payment system. Therefore, whenever there is an event for payment, the bot sends a request to the API and gets back with a link for the payment to proceed.
However, there are many banks and firms that have thought about this idea but have not implemented it yet due to privacy and KYC concerns. However, in 2020, things might change and this concept would also become mainstream.
Chatbots For Organisations
The use cases of chatbots in organisations are many. For example, a chatbot is definitely a much-needed element when it comes to answering basic HR-related queries. It can also be used in the initial hiring process — sorting candidates based on some questions.
Some of the sought-after chatbots for the HR department are Engazify, JLT bot, Amber etc. and all these bots are Indian and are already being used by some of the well-known names like Visa, IBM and ITC among other custom-made products.
Chatbots With Emotional Intelligence
This is one of the most awaited advancements that are likely to show up. One of the major reasons why chatbots could become more human is the fact that there are reports that suggest customers do not use chatbots because the conversations feel robotic. Even though companies have already started to come up with bots that can deliver personalised answers, the robotic essence is still there.
And in 2020, with AI as the major activator, the possibility of having more human-like bots is going become more clear.
Furthermore, this advancement would also draw attention to contact centres. They would also be incorporating chatbots in their customer service process. These bots will not only be able to answer queries but will also be able to handle large volumes of queries.