With the advancements in AI, voice-led interactions, and cloud technology, chatbots will shred their image of a text-based engagement portal. They will soon move beyond their primary task of facilitating customer experience and will have a much bigger stake in the future of businesses
Fremont, CA: Artificial Intelligence (AI) is radically transforming the industries worldwide, and reorienting how businesses communicate both internally and with customers. It has been a major influence in the customer service sector, and the trend is going to keep up. According to credible sources, AI will be a mainstream customer experience investment in the next couple of years. Notably, chatbots have become one of the most trending AI applications today. While 47 percent of organizations are expected to use chatbots for customer care, 40 percent will probably deploy virtual assistants.
It is forecasted that the majority of businesses will start investing more in chatbots technology development than mobile application development in the coming years. While chatbots have already become a popular tool, its technology is still maturing. Various industries have adopted chatbots for customer service, but most of them are poorly built. Almost all of us might have had the misfortune of interacting with a badly configured chatbot at least once. When tasked with too much to do, they quickly become overwhelmed, and their stature as a magical one-size-fits-all solution is still a question of uncertainty.
However, the very fabric of chatbots is evolving alongside other technologies. With the advancements in AI, voice-led interactions, and cloud technology, chatbots will shred their image of a text-based engagement portal. They will soon move beyond their primary task of facilitating customer experience and will have a much bigger stake in the future of businesses. For instance, advanced analytics is increasingly getting employed in chatbot technology to make them more agile and customized.
According to Global Market Insights, the overall market size for chatbots worldwide would be over $1.3 billion by 2024. Their necessary evolution to an intelligent and customized customer engagement hub would revolutionize the customer experience sector. As enhanced customer experience is directly correlated to business revenue, there seems to be nothing that could stop this chatbot takeover. However, the chatbots that will soon take over the industries are just being born.