CHATBOTS – The Future of Business Marketing

The whole world experienced a technological revolution when Facebook introduced the amazing Chatbots for the first time in April last year. Everyone was buzzed with the existence of Chatbots wondering their potentials in the future. Within a year, nearly 80% of the companies have already employed or are planning to utilize its applications in their business by 2021.

Chatbots have been defined in various ways online. Basically, they are programs driven by artificial intelligence, rendering a messaging interface to facilitate user interaction. This software is capable of performing any task, starting from setting an alarm to scheduling a meeting. They have an intense learning technique operating on a natural language processor, machine learning, and pattern recognition. They use collective data to comprehend the user’s intents and take suitable actions accordingly.

Business Prospect of Chatbots

Business companies are keen on using Chatbots particularly for services like marketing, sales, and customer services. Reportedly, 42% of the companies support automation of services with the intention of accessibility of customers. Not only this, it has the potential of replacing 29% of US customer service representatives resulting in huge savings of around $23billion annually. Amazing right?

It is evident in today’s world that consumers want businesses to be available 24/7, out of which a huge percentage prefers messages over emails and calls. This magnifies the importance of Chatbots as they are available anytime and accessible from any geographical location. Furthermore, bots can also be exploited for lead generation, and research purposes. The leading giants, Facebook, Google, and Microsoft are already competing to launch their respective, successful bots.

Chatbots are an amazing invention from a modern consumer perspective. They have a global presence and high appeal to the younger demographic. Integrating these bots would considerably reduce labor costs. However, the importance of human presence is still believed to be inevitable. That has not yet been cut off!