The Future of ChatBots

By ongraph
May 30, 2017 | 2234 Views

Latest Industry insights to keep you updated on the latest happenings.

Chatbots are here to stay and important for future business conversations. While a year ago, many in the tech industry saw this as yet another Silicon Valley fad that was more hype than substance, that debate has largely been put to rest now.

Bots have been deployed by major companies in major sectors like Ecommerce, Finance, Healthcare, etc as the future of conversations.

chatbot for businesses

Businesses using Chatbots to connect with customers instantly

Chatbots are the following stride in the advancement of the web. First, there were sites, then there were applications, now there are bots. Are you also wondering what are chatbots? or Why are they such a big opportunity? or How do they work?

In this blog, you are going to get answers to these questions as well as more insights about ChatBot

So, let’s start.

What are ChatBots?

Chatbots are computer programs that mimic conversation with people using artificial intelligence

We can also understand it as a service that’s powered by artificial intelligence with which you interact through a chat interface. 

Such services address to different walks of life ranging from functional to fun and is accessible through major chat products like Facebook Messenger, Slack, etc. 

Conversational Bot Development is transforming the way we interact with the internet from a series of self-initiated tasks to a quasi-conversation.

 

cnn using chatbots

CNN using Chatbots to deliver lastest news to its users

Experience ChatBot On Facebook Messenger

The most accessible platform to get chatbot experience is Facebook Messenger. Major brands have already adopted Bot technology to help drive conversations, including CNN, Hubspot, The Wall Street Journal, ABC News, Domino’s Pizza, and more.

Messenger that was once only used for messaging now has become more useful and interactive with the rise of artificial intelligence.

With 1.3 billion monthly active users on Messenger, the application drives an explosion of “Bots”.

Messaging Apps surpass social media

Messaging Apps are becoming the new way to socialize

Why Chatbots are the future of conversations?

The above chart indicates people are more engaged in messaging apps instead of social networks.

Messaging apps are no more simple text-based applications, instead, they have become a platform where your business transactions happen.

Along these lines, if you need to construct a business on the web, you need to be where your audience is and that place is now and in future is inside messaging applications.

This is why chatbots are important and every business planning their future must take it into consideration. It’s a huge business opportunity for anyone willing to jump headfirst and build something people want.

How Good Is It?

ChatBots are everywhere and they are the future!

Conversation is the new frontier for user interfaces, associating individuals to brands, their products, and services.

No downloading, no new interface to learn or complex menus to navigate, instead an enhanced experience that seems natural and flowing, as any conversation should. That’s the thing AI-powered Bots are capable to render to a landed user.

messenger chatbot used by pizza hut

Pizza Hut using facebook messenger to drive sales and conversations

So what does this mean for businesses?

Simply put, a better user experience as well as service quality that will be much higher than an application. AI-powered chatbots will be like your personal AI Assistant.

It will help you with things exactly as you wish. Mind it, exactly as you would wish. Nonetheless, such technologies are in their early stage but are evolving and growing.

But, how do these bots work? How would they know how to converse with individuals and answer questions? Isn’t that Artificial Intelligence and isn’t that insanely hard to do?

It is Artificial Intelligence (AI) with Natural Language Processing (NLP) and Machine Learning (ML) that presents this smart version of the chatbot.

Chatbots now better understand the intent of humans and try to provide a natural, human-like conversation.

AI and Machine Learning(ML) let chatbot get a deeper understanding of their customers’ behavior, habits, and context. While NLP software use knowledge of sentence structure, idioms, and ML pattern recognition to try to match speech to an ‘intent’.

The advancement in Bot technology helps to identify things people want from it and act upon them.

How do Chatbots work?

Occasionally we get in touch with two types of chatbots.

One that functions based on a predefined set of rules and the other one that is continuously learning and evolving with the help of machine learning.

As we are discussing AI-powered chatbot, let’s understand the function of Chatbot that uses machine learning to assist a user.

  • This bot has an artificial brain aka artificial intelligence. You don’t have to be ridiculously specific when you are talking to it. It understands language, not just commands.
  • This bot consistently gets more quick-witted as it gains from discussions it has with individuals.

What else can they do?

Right now, chatbots are replacing individual applications. As opposed to closing the Messenger app and then switching to the Uber app, you can now request a ride with a simple message on Uber Chatbot build on Facebook Messenger. 

Mobile Application Development ease has been adding fuel to this. 

San Francisco-based startup ‘Assist’ is a talk bot that overlays a large group of administrative activities that need to be performed.

When a user performs activities within an application like booking a ride, set schedule for a hair cut, sending flowers, and much more.

No longer will you require downloading an individual app to avail services from an organization.

You can basically send a chat to ‘Assist’ from inside your preferred chat platform (Facebook Messenger, Slack, or Telegram) and the bot will assist you as you want.  

future of chatbots

So now, in future would you prefer sending a text through a chatbot to accomplish multiple tasks? Or will you prefer opening/downloading a separate app?

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