What To Expect In 2020 For Chatbot Development Trends? - PowerPoint PPT Presentation

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What To Expect In 2020 For Chatbot Development Trends?

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As our capabilities in artificial intelligence expand, we are seeing more and more businesses latch on and restructure around the use of chatbots. Why? They can be implemented across numerous business verticals to deliver a superior customer experience, they can automate business processes, and they increase lead generation by bringing customers through business sales funnels. Best yet, chatbots cut operation costs and increase user retention rates by being able to offer personalized recommendations. So, it only makes sense that chatbots are here to stay and predictions suggest that 80% of businesses will be using a chatbot by 2020. Let’s take a look at which trends they will be bringing to the new year and what to expect from them as we move forward. – PowerPoint PPT presentation

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Title: What To Expect In 2020 For Chatbot Development Trends?


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What To Expect In 2020 For Chatbot Development
Trends?
2

As our capabilities in artificial intelligence
expand, we are seeing more and more businesses
latch on and restructure around the use of
chatbots. Why? They can be implemented across
numerous business verticals to deliver a superior
customer experience, they can automate business
processes, and they increase lead generation by
bringing customers through business sales
funnels. Best yet, chatbots cut operation costs
and increase user retention rates by being able
to offer personalized recommendations. So, it
only makes sense that chatbots are here to stay
and predictions suggest that 80 of businesses
will be using a chatbot by 2020. Lets take a
look at which trends they will be bringing to the
new year and what to expect from them as we move
forward.
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(No Transcript)
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We Will See AI Call Centers Emerge.
We are already seeing some advancement in this
area, where chatbots are being developed to
handle basic tasks like scheduling appointments,
requesting a balance, and changing passwords. It
is likely that as chatbots become more humanized
and smarter, they will be able to handle a large
number of calls and requests. Thus, call centres
or contact centres will emerge, where AI chatbots
will be used to gather the context of a call,
identify the calls purpose, and provide a
resolution based on the first five levels of the
human query. After all, AI chatbots can already
automate certain portions of business and help
agents make personalized and unique
recommendations, the next step in handling
consumer information makes sense.
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Voice Bots Will Be Used More.
While texting is a fantastic way to get a message
off quickly to another, it can lose its context
rather quickly. Texting can be monotonous, and it
doesnt convey emotion very well without the use
of emphasized grammar and emojis. Thus, voice is
making a comeback in that more and more messaging
applications are offering voice bots as a way to
be more engaged. Whether this is offering
automated, intelligence-based communication or
providing personalized communication, brands are
converting leads by integrating voice bots into
their messaging systems.
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Out with The Scripted and In With the AI
A lot of businesses have used scripted or
rule-based chatbots in the past in order to
satisfy business needs, like customer engagement
and customer recommendations. However, chatbots
are becoming smarter and machine learning is
allowing them to adapt faster, providing highly
tailored and personalized options to users.
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Chatbots becoming the norm in Banking,
Investments, and Insurance Markets
One of the major ways that banks profit from
customers is by making recommendations and
selling their own products and services. This
requires the bank to have a close relationship
with prospective customers and deliver on a
personalized experience. If a customer doesnt
feel like they are understood or that the bank
doesnt have what they are looking for, the bank
loses out. Chatbots offer banks the ability to
provide personalized customer service, by
handling and guiding customers through
complicated banking procedures. Chatbots are also
being used by investment companies to provide
easier access to investment options, and the
insurance sector is using AI chatbots to educate
clients, provide claim adjustments, and give
updates on claim status.
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Payments Will Become Automated
One of the newer trends coming to social media
platforms via chatbots is automated payments.
These allow users to pay directly over social
media platforms, like Facebooks Messenger
Application, with an instant process. This is
beneficial as there is no risk to credit or debit
card security, customers can buy a product based
directly from a chatbots recommendations, and
customers do not need to leave the conversation
to buy the product or service. Plus, it is
cost-effective on the business side and easily
scalable.
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As chatbots become more mainstream, we will see
business functions become more diverse and
numerous consumer applications emerge that work
in tandem with them. This will increase customer
experience, create faster interactions, and
deliver a seamless journey from the beginning of
the conversation to the end.If you are really
looking for any best Chatbot App Development
company, or want to share any of your valuable
ideas, or want to clear any type of doubt or
query, feel free to contact kr_at_digitalmoncton.ca
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Interested? If you are thinking of
leveraging huge benefits in Digital
Transformation, Software Development, Web and
Mobile Apps development, then what are you
waiting for? Contact us For more information,
kindly visit www.digitalmoncton.ca to explore our
expertise and other industries we have
catered. Write us at kr_at_digitalmoncton.ca Talk
to us 1(506) 588-5819
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Thank You
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