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Top 10 most Innovative Chatbots developed today

October 16, 2019 | AI, Chatbots | No Comments

Innovative chatbots

Chatbots are becoming popular with the increasing capacity to perform thousands of tasks. There are 23,552 identified number of tasks related to lifestyle, games, music, smart home, travel & tourism, shopping, communication, shopping, and many more areas. AI can multiple employee productivity within the organizations and speed up innovation.

Big brands that extensively use Chatbots are Lyft, Spotify, MasterCard, Staples, Pizza Hut, Starbucks, Fandango, Tata Capital, TCS, Club Mahindra, Godrej Agrovet, etc. The versatile applications powered by AI keeps the chatbots running at high speed and have the capacity to speed up the information exchange and response rate.

Microsoft and IDC Asia Pacific states that around 77% of business leaders consider Artificial Intelligence is increasing business competitiveness by 2.3x by 2021.

Innovative chatbots

Chatbots are making a mark in sectors like healthcare and medicine, education, edutainment, real estate, travel, customer service, gaming, and E-commerce.

Top 10 Most Innovative Chatbots:

AI bots

Artificial Intelligence chatbots deliver quality output and the deep learning algorithms ensure the relevance of content shared. It can sense the user’s intentions and personalize the response.

1. Mitsuku: A popular AI-powered online chatbot developed using Artificial Linguistic Internet Computer Entity – A.L.I.C.E. database. The advanced machine learning techniques enhance its conversation skills allowing anyone to talk with it. However, it is not created for any specific purpose but aims to entertain users.

Mitsuku is the most human-like chatbot and can make human-like conversations. It uses NLP- natural language processing that allows the bot to understand everything we say. It is five times the award winner of the Loebner Prize Turing Test.

Mitsuku is the best conversation chatbot that performs well compared to other bots. You can ask what all can it do for you or have a general conversation, knowledgeable conversation, ask about history, or something that happened between selected dates, ask it to show a horoscope, top 40 songs across the globe and much more.

It can talk about anything and with anyone; it has no topic or age limitations. It can be funny some times and while discussing sensitive topics it takes a neutral stand.

2. Hipmunk:  It is one of the most innovative AI chatbots supported by a user interface. It has wonderful travel ideas. A bot is supported by a user interface (UI) that can be more efficient. Hipmunk It understands your need and helps you schedule the travel, search for best flight options, book hotels or rent a car.

Hipmunk can search and compare the price and options from other listings and get you the best deal. Easily integrate them with social media pages or Skype. The bot uses the location data to determine work accordingly for the search input and optimizes the search for the user.

It lets you do your work or relax while it smartly handles the information found from multiple sites, and places it right to suit your requirements. It allows you to share the maps.

Hipmunk is not chatty bot yet efficient to complete the transactions for the user. Bots need not to be chatty.

3.Duolingo: A language-learning app gained popularity because of the number of languages it lets you practice. Duolingo enables you to develop conversational skills in other languages and you can even practice aloud.

Duolingo saves you from the embarrassment of speaking a foreign language and lets you overcome the fear of conversing in front of others.

Learn almost 30 foreign languages through this chatbot. It provides plenty of self-paced exercises that can develop a better understanding of those languages.

It simplifies the recruitment process and is capable of interviewing thousands of candidates simultaneously and in a given period it can complete the interviews.

4.Robot Vera: It is a networking Legal and HR chatbot that business enterprises use to solve many issues relating to the recruitment, legal paperwork, etc. smoothly. Robot Vera can improve the workflow and productivity of the company.

Human Resources team’s efforts to screen and select the CV’s form the job portals, inspect the CV’s, sort the documents, and e-mails received from not suitable candidates. Robot Vera automatically analyzes resume databases and calls candidates that are fit for a new opening in the organization.

AI-powered chatbot Robot Vera filters out the applications received for a position to merely 10% of the best suitable ones form all the sources of resumes. It then informs about the job description, schedules and conducts telephonic interviews or video chats.

Robot Vera can evaluate the answers of applicants and perform recruitment tasks almost 10 times faster than humans perform. It can hire employees, handle complex office situations, and even fire them if needed.

5. Replies: Virtual companion chatbots are the ones, which people can flirt with. They can even complain or talk loud about their failed relationships. Replika helps people to meet their emotional needs and soothes them when they feel anxious or heartbroken and need an inspiring or comforting chat. Users can select various options for self-motivation, depending on their choice.

It has over thirty thousand members on the Facebook group. It lets you feel good especially with the care and compassion received from the virtual companion. Replika mimics the speech and behavior of the user. You can download and teach this app everything about yourself. It can have an in-depth conversation about the things you want to engage in.

Replika can even follow you on social media and continue to ask you some questions.

6. TechCrunch: This smart conversational chatbot gives a personalized experience over the content you want, how frequently you want within the selective topics, authors and type of content available on TechCrunch.

If you wish, to track specific types of articles or the industry-specific development stories and news it serves you with the best and relevant content. There is a lot of content on the internet and you cannot read all and cannot afford to miss what is important for you and your business.

Conversational double intent lets you get info on two searches at a time e.g. news on Mahindra and Tata. Get personalized news recommendations

TechCrunch customizes to the user’s choice and helps companies create a brand image. Sending the content that the user enjoys lets them relate to the products and services they provide. Companies get traffic from people interested in their products and the target customers automatically reach out.

7.BabyCentre UK: It belongs to Johnson & Johnson a reputed name in childcare. This bot helps query resolution about pregnancy and childcare. It can calculate the due date of would-be mothers and guide them for preparing for childbirth. Many articles are available on self-care for moms on all stages of motherhood.

BabyCentre UK’s facebook messenger Bot responds to the questions for a concern area the parent faces for different age groups, it asks for the child’s age and problem. Personalized bits of advice suggested by the bot helps to a great extent. Targeted content adds to illustrate the answers given by the bot.

They have information on how to get pregnant, receive weekly articles during pregnancy, health care of mother and baby, when to call a doctor for your baby, why your baby does not sleep, and you can share your opinion in the community.

If the toddler is weaning, it can suggest if the child is ready for solid food and extends the conversation by asking other indications they should check out. E-mail content received by the parents is personalized as per the child’s age opted by them.

The BabyCentre’s bot could avoid the spam filters and achieve a read rate of 84% and a higher engagement rate than the e-mail channels.

8.Acebo:  It is a bot that tracks expenses, checks to-do lists, and intelligent task management to improve the productivity and efficiency of the team. The most convenient way to store the expense records, images and receipts to export at the selected date to the accounting system or expense format. Find the tasks, expenses, polls, and results in a central and easily accessible location.

You can personalize the survey, create engaging surveys such as emotion-enabled surveys, conventional surveys, chat-based surveys, and automatically track sections of feedback received from customers.

9.Instalocate: This chatbot saves you from reading complex customer rights documents of various airlines. Get a refund from airlines in case of delayed or canceled flights and even overbooking. Yes, this is legal airlines owes you the compensation and in the currency not some coupons.

It is simple to use just track your flight with few details like airlines, flight no. and the date of travel. The chatbot notifies you automatically to apply for the compensation once you are eligible.

It provides you a stress-free travel experience with the information Instalocate shares with the user. Flight-related information like delay alerts, security wait time, web check-in, baggage allowance, etc. You can inform your friends and family while you are onboard and helps to get you a cab as soon as your flight lands.

Instalocate is your travel assistant available 24×7 that plans travel, books flights suggests where you can eat or stay, updates you with flight details in real-time.

10.Watson Assistant: IBM a leader in AI space developed this advanced chatbot. It holds the content of varied industries and is pre-trained for industry-specific. It uses data content relevant to that industry. It can understand historical chat, call logs, search and respond from the knowledge base.

Furthermore, it inquires for more clarity from the customer to serve them better. It can decide on its own when to direct the user to human representatives. Level one work is repetitive is taken care of by the Watson Assistant. The bot is smart enough to recommend for the training it requires improving on its conversational abilities.

Watson Assistant can be part of your company website, messaging channels, customer service tools adapted, and your mobile apps. The chatbot offers a visual dialog editor making your zero experience of coding your power in developing a new feature.

How Chatbots are becoming our need and reliable partners?

Whether business or personal life we have too many things to handle and an intelligent friend like Chatbot is a relief in heck. How badly a human need someone to take care of them yet not interrupts in their personal space.

Chatbots are digital friends, assistants, planners, tutors, therapists, and partner in day-to-day life. Book flights, hotels, cabs, dinner, medical checkups, listen to music, do the shopping for clothes, cosmetics, groceries, buy insurance, get educated, or perform financial and banking transactions.

There are bots that you can use on your website, Facebook page, Skype, to speed business process. Lakhs of bots and over 23,000 skills makes it interesting and challenging for the programmers to create unique solutions.

To create innovative chatbots, identify a unique problem or need, chart out the probable solutions, break down in tasks, what and how can you automate, are your data ready, and can it serve multiple industries or the selected one with features that do not exist.

Closing Thoughts:

Intelligence is mandatory for innovation in Artificial Intelligence technology. Chatbots got created to reduce human interaction, conflicts, and arguments but on the contrary, the same attributes of human nature are the food for innovation. There are always good ideas that can be improved so are the systems. The future of chatbots is the conversations predicted to save $8 billion per annum by 2022.

Understanding What Is Conversational AI

For the last couple of hundred years, the sum total of what correspondence has been verbal, composed, or visual. We talked with our mouths, hands, and utilizing different mediums like braille or a PC. Discussions, specifically, required two distinct things.

Various people and an approach to impart. Things have since taken a noteworthy improvement. We have now opened better approaches to discuss legitimately with our innovation in a conversational setting utilizing a conversational chatbot.

Conversational AI alludes to the utilization of informing applications, discourse-based collaborators and chatbots to computerize correspondence and make customized client encounters at scale. Countless individuals use Facebook Messenger, Kik, WhatsApp and other informing stages to speak with their loved ones consistently. Millions more are exploring different avenues regarding discourse-based colleagues like Amazon Alexa and Google Home.

Applications of Conversational AI

Accordingly, informing and discourse-based stages are quickly uprooting conventional web and portable applications to turn into the new vehicle for intuitive discussions. At the point when joined with robotization and man-made reasoning (AI), these associations can interface people and machines through menial helpers and chatbots.

However, the genuine intensity of conversational AI lies in its capacity to all the while complete exceptionally customized connections with huge quantities of individual clients. Conversational AI can on a very basic level change an association, furnishing more methods for speaking with clients while encouraging more grounded communications and more noteworthy commitment.

Human-made consciousness is a term we’ve started to turn out to be exceptionally acquainted with. When covered inside your most-loved science fiction motion picture, AI is currently a genuine, living, powerhouse of its own.

Conversational AI is in charge of the rationale behind the bots you manufacture. It’s the cerebrum and soul of the chatbot. It’s what enables the bot to carry your clients to a particular objective. Without conversational AI, your bot is only a lot of inquiries and answers.

Conversational AI

Few Examples Of Conversational AI

Facebook Messenger

Facebook has bounced completely on the conversational trade temporary fad and is wagering enormous that it can transform its mainstream Messenger application into a business informing powerhouse.

The organization originally incorporated shared installments into Messenger in 2015, and after that propelled a full chatbot API so organizations can make cooperations for clients to happen inside the Facebook Messenger application. You can request blooms from 1–800-Flowers, peruse the most stylish trend and make buys from Spring, and request an Uber, all from inside a Messenger talk.

Operator

Administrator considers itself a “demand organize” expecting to “open the 90% of business that is not on the web.” The Operator application, created by Uber fellow benefactor Garrett Camp, interfaces you with a system of “administrators” who act like attendants who can execute any shopping-related solicitation.

You can request show passes, get blessing thoughts, or even get inside plan proposals for new furnishings. Administrator is by all accounts situating itself towards “high thought” buys, greater ticket buys requiring more research and skill, where its administrators can increase the value of an exchange.

Administrator’s specialists are a blend of Operator workers, in-store reps, and brand reps. The organization is additionally creating man-made consciousness to help the course ask for. Almost certainly the administration will wind up more astute after some time, joining AI for productivity and human mastery for quality suggestions.

Amazon Echo

Amazon’s Echo gadget has been an unexpected hit, coming to over 3M units sold in under a year and a half. Albeit some portion of this achievement can be ascribed to the gigantic mindfulness building intensity of the Amazon.com landing page, the gadget gets positive surveys from clients and specialists the same and has even incited Google to build up its own adaptation of a similar gadget, Google Home.

What does the Echo have to do with conversational business? While the most widely recognized utilization of the gadget incorporates playing music, making educational inquiries, and controlling home gadgets, Alexa (the gadget’s default addressable name) can likewise take advantage of Amazon’s full item inventory just as your request history and brilliantly complete directions to purchase stuff. You can re-request normally requested things, or even have Alexa walk you through certain alternatives in buying something you’ve never requested.

Snapchat Discover + Snapcash

Brands are falling over themselves to connect to Snapchat, and the ultra-well known informing application among youngsters and Millennials has as of late been offering some enticing sign that it will end up being a considerably all the more convincing internet business stage sooner rather than later.

In 2015, Snapchat propelled Snapcash, a virtual wallet which enables clients to store their charge card on Snapchat and send cash between companions with a basic message.

While this was a restricted test, it demonstrates that Snapchat sees potential in empowering direct trade (likely satisfied through Snapcash installments) inside the Snapchat application, opening the entryway to many fascinating better approaches to brands to interface and offer items to Snapchatters.

AppleTV and Siri

With a year ago’s invigorate of AppleTV, Apple brought its Siri voice partner to the focal point of the UI. You would now be able to ask Siri to play your preferred TV appears, check the climate, look for and purchase explicit kinds of motion pictures, and an assortment of other explicit errands.

Albeit a long ways behind Amazon’s Echo as far as expansiveness of usefulness, Apple will no uncertainty grow Siri’s joining into AppleTV, and its reasonable that the organization will present another adaptation of AppleTV that all the more legitimately contends with the Echo, maybe with a voice remote control that is continually tuning in for directions.

Businesses and conversational AI

Organizations can utilize Conversational AI to robotize clients confronting touchpoints all over – via web-based networking media stages like Facebook and Twitter, on their site, their application or even on voice aides like Google Home. Conversational AI frameworks offer an increasingly clear and direct pipeline for clients sort issues out, address concerns and arrive at objectives.

Both the terms ‘Chatbot‘ and ‘Conversational AI’ have a similar significance.

How It Works To Engage Customers

1) It’s convenient, all day, every day

The greatest advantage of having a conversational AI arrangement is the moment reaction rate. Noting inquiries inside an hour means 7X greater probability of changing over a lead. Clients are bound to discuss a negative encounter than a positive one. So stopping a negative survey directly from developing in any way is going to help improve your item’s image standing.

2) Customers incline toward informing

The market shapes client conduct. Gartner anticipated that ‘40% of versatile collaborations will be overseen by shrewd specialists by 2020. ’ Every single business out there today either has a chatbot as of now or is thinking about one. 30% of clients hope to see a live visit alternative on your site. 3 out of 10 shoppers would surrender telephone calls to utilize informing. As an ever-increasing number of clients start anticipating that your organization should have an immediate method to get in touch with you, it bodes well to have a touchpoint on a detachment.

3) It’s connecting with and conversational

We’ve just lauded the advantages of having a direct hotline for clients to contact you. Be that as it may, the conversational angle is the thing that separates this strategy from some other.

Chatbots make for incredible commitment devices. Commitment drives tenacity, which drives retention — and that, thus, drives development.

4) Scalability: Infinite

Chatbots can quickly and effectively handle an enormous volume of client questions without requiring any expansion in group size. This is particularly helpful on the off chance that you expect or abruptly observe a huge spike in client questions. A spike like this is a catastrophe waiting to happen in case you’re totally subject to a little group of human operators.

How Businesses Can Use Conversational AI

Your business is speaking with a client for the duration of the time they’re utilizing your item. As far as we can tell conveying conversational AI answers for undertakings, we’ve seen that some utilization cases can use such innovation superior to other people.

Our rundown of the best performing use cases is underneath:

  • Ushering a client in (Lead Generation): Haptik’s Lead Bots have seen 10Xbetter change rates contrasted with standard web structures.
  • Answer questions and handle grumblings when they come in (Customer Support): Gartner predicts that by 2021, 25% of endeavors over the globe will have a remote helper to deal with help issues.
  • Keeping current clients glad (Customer Engagement): Our customers have seen a 65% expansion in degrees of consistency essentially by stopping an intuitive utility chatbot inside their application.
  • Learning from clients to improve your item after some time (Feedback and Insights): Customers are 3X bound to impart their input to a Bot than fill study structures.

Organizations are no special case to this standard, as an ever-increasing number of clients presently expect and incline toward talk as the essential method of correspondence, it bodes well to use the numerous advantages Conversational AI offers. It’s not only for the client, but your business can also decrease operational expenses and scale tasks hugely as well.

By guaranteeing that you’re accessible to tune in and converse with your client whenever of the day, Conversational AI guarantees that your business consistently wins good grades for commitment and availability. So, Conversational AI works all over the place.

Any business in any space that has a client touchpoint can utilize a Conversational virtual specialist. It’s better for clients and for the business. Nothing else matters.

The need for high-quality chatbot training data

Humans and computers have been interacting ever since the beginning and this interaction has been improving with innovation over the years. From setting medical appointments to doing online check-ins for flights, AI chatbots that imitate human conversations have been gaining momentum.

What is a Chatbot?

A chatterbot, also known as a chatbot is a software of Artificial Intelligence that can simulate a chat or conversation with a user. The medium used is a natural language through applications, websites or telephone conversations. If it is to be defined technically, a chatbot is simply a representation of the natural evolution of a system made solely for answering questions using Natural Language Processing (NLP).

Chatbots learn from interactions and grow with time. Their working is based on rule-based and smart machine working. Rule-based chatbots use predefined responses from a database. The database is searched using keywords. Smart machine-based chatbots use Artificial Intelligence and Cognitive Computing. They develop according to the interactions.

what is a chatbot

So, why are chatbots so popular?

Artificial intelligence finds its application in several fields. Chatbots are one of the most popular examples of Artificial Intelligence. They are an important asset for many businesses as they assist in customer support. According to a 2011 research by Gartner, around 85% of our interactions will be handled by bots rather than humans. Chatbots aren’t just used for answering questions, but also play a vital role in collecting information about them, creating databases, etc.

Chatbots help with:

  • Customer service marketplace’s first priority is its customers. Their experience determines the success or failure of a company. When online shopping is considered, it has been observed that most of the shoppers need some kind of support. They need help at each step of the purchasing process, which is where chatbots come into action and make the process smooth and quick.
  • Customer information strategizes their customer service based on the data that they collect about the consumers. Chatbots take information from the reviews and feedback and use the information to help determine how the company can make its product better.
  • Lesser workforce work done by one chatbot is better than getting it done by a large number of employees. Companies can cut down on costs by using chatbots that can handle a variety of customer interactions, thus making the work simpler and more efficient as human errors are reduced.
  • Avoids redundancy tasks can be avoided within company call centers and the employees, that is, they will help in ensuring that the employees spend their time on important tasks rather than repetitive tasks.

Chatbots today can answer simple questions using prebuilt responses. If a user says A, respond with B and so on. After this kind of development, expectations have increased. We look for more advanced chatbots which can perform several tasks.

Conversational AI chatbots can be divided into a number of categories based on their level of maturity:

Level 1: This is the basic level where the chatbot can answer questions with pre-built responses. It is capable of sending notifications and reminders.

Level 2: At this level, the chatbot can answer questions and can also improvise a little during a follow-up.

Level 3: The assistant is now capable of engaging in a conversation with the user wherein it can offer more than the prebuilt answers. It gets an idea of the context and can help you make decisions with ease.

Level 4: Now, the conversational chatbot knows you better. It knows your preferences and can make recommendations based on them.

Level 5 and beyond: Now the assistant is capable of monitoring several assistants to perform certain tasks. They can do efficient promotions, help in specific targeting of certain groups based on trends and feedback.

So, what goes on behind building a chatbot?

Building a conversational chatbot is a long process, which needs innovation at every step. The first and the most important decision to be made is how the bot will process the inputs and produce the reply. Most systems today used rule-based or retrieval-based methods. Other areas of research are grounded learning and interactive learning.

  1. Rule-based
    The chatbots are trained using a set of rules that automatically convert the input into a predefined output or action. It is a simple system, but highly dependent on keywords.
  2. Retrieval-based
    In this system, the bot on receiving the input locates the best response from a database and displays it. It requires a high level of data pre-processing. This system is difficult to personalize and scale.
  3. Generative
    As the demand for chatbots is increasing, more innovation is demanded. The limitations of the above-mentioned systems are overcome by this one. The bot is trained using a large amount of chatbot training data. Generative systems are trained end-to-end instead of step-by-step. The system remains scalable in the long run.
  4. Ensemble
    All advanced chatbots like Alexa have been built with ensemble methods, which are a mixture of all the three approaches. They use different approaches for different activities. These methods still need a lot of work.
  5. Grounded learning
    Most human knowledge isn’t in the form of structured datasets and is present in the form of text and images. Grounded learning involves knowledge that is based on real-world conversations.

For a chatbot to function as per requirements, it is important to provide it with high-quality chatbot training data. What exactly is AI training data?

A chatbot converts raw data into a conversation. This raw data is unstructured. For example, consider a customer service chatbot. The chatbot needs to have a rough base of what questions people might ask and the answers to those questions. For this, it retrieves data from emails, databases or transcripts. This is the training data.

The process of formulating a response by a chatbot

The Importance of High-Quality Chatbot Training Data

Most of the chatbots today don’t work properly because they either have no training or use little data. The implementation of machine learning technology to train the bot is what differentiates a good chatbot from the rest.

Training is an on-going process. This development happens in 5 stages:

  1. Warm-up training
    The client data is used to start the chatbot. This is the first and most important step.
  2. Real-time training
    The incoming conversations are tracked and tell the bot what people are asking or saying, instead of working purely based on assumptions.
  3. Sentiment training
    The way people are talking to the bot is used to train language and functions. For example, an angry user is dealt with differently as compared to a happy user.
  4. Effectiveness training
    In this method, the result of the conversations is analyzed and the bot is trained accordingly to reach more people faster.

These are a few ways how high-quality chatbot training data can enable a conversational bot to produce optimal results. After this, the chatbot is checked for improvement at every stage. 

Chatbots make interactions between people and organizations simpler, enhancing customer service. They allow companies to improve their customer experience and efficiency. Human intervention is important in building, training and optimizing the chatbot system.

How chatbots are redefining customer experience

Chatbots reliability and consistency in serving customers have changed the way the world created the customer experience. A company that regularly communicates with customers can experiment and improve using AI-based chatbots. Digital transformation can favor the customer service and experience. The world is moving fast and so are the technological advancements. If you intend to draw benefits from implementing the latest technology, there is no reason for further delay.

Why Customer Experience Is Important For Every Business?

Customer experience is a trophy that companies receive for something they do with pride. Companies focusing on improved customer experience know the worth of single positive feedback, share, comment and rebound effect it creates. New customer acquisition and maintenance of existing customers are crucial for market sustainability. Returning customers are solid proof of the experience you created for them. 

Customer loyalty is not achievable with marketing tactics it is a long-term investment in the customer relationship. The customers, who have a guarantee towards service or product, trust the companies. The companies in return continue to provide flawless service. Customer experience is a key feature in brand building. Attracting new customers is challenging and bringing back a lost customer is even tougher. 

Customer satisfaction has a direct impact on revenues and the company’s reputation. Thus, customer experience is of ultimate importance to every business.

How Has Customer Experience Changed Over The Years?

The customer experience has changed with the availability of internet and loads of information that influences the decisions. The power of researching about the product, services, and the competitor’s brands raises the overall expectations. The features, the price, functionality, use of advanced technology, and response from the company all such expectations have changed with the market. The launch of latest technology based affordable solutions is changing their demand.

Customer support is no more just issue resolution team; the general queries related to product, price, and availability are part of customer service. The location constraint; faced by customer care is removed by chatbots and it eases the process. It has changed the way the pre and post-sales interactions take place. Customer experience should be enjoyable, useful, and reliable. B2C businesses have a great opportunity to create a better customer experience.

What Are Chatbots?

Chatbots are AI-based conversational robots designed for the specific needs of the company and its services. The software executes automated tasks like communicating with users without any human control over the bot. These chat platforms either independent or via websites are effective through the internet. The chatbots developed with specific purposes as discussion and basic plus extended conversation with humans are just like instant messages.

The response to the queries is spontaneous and machine learning helps them process the requests. Chatbots can respond to the text and voice inquiries and perform the required actions. The knowledgebase helps chatbots to search for accurate response by combining information to communicate. Best examples of chatbots are Alexa from Amazon, Siri by Apple, Microsoft’s Cortana, and Google Home.

Companies like Pizza Hut, Uber, eBay, Lyft, Emirates, Bank of America, MongoDB, LeadPages, TechCrunch, and many more are already using chatbots to deliver a better experience to the customers.

Grand View Research Report says that the chatbot market globally is predicted to reach USD 1.2 billion in just ten years. The report says that the demand for intelligent virtual assistants is rising with automatic speech recognition and text to speech conversion. 

Why Do We Need Chatbots?

These instant messengers create a personal and real life-like experience. The speed and precision it brings to the customer service are securing chatbots position in businesses. The growth of the business is a factor that invites companies to get their own chatbots. 

Customization of messages is the next step for the improvement in chatbots. Repeating the same messages do not make sense hence learning from the customer behavior helps. Companies use chatbots by keeping their goals in mind; bringing relevance to the user journey, create intimate experiences, and engage with users.

Chatbots used uniquely for sending product updates, promotional messages, and product comparisons can deliver a better experience. We can collect user data, offer services, and replicate human interactions. The search of information is simplified, communicating can be easier, and personalization of information is possible too.

Chatbots take care of the basic level of communication. In case of inability to solve or in case of customer dissatisfaction; it passes to human handled customer service process.

Chatbots are available full time; they eliminate the waiting period for attendance by a customer care representative. They save money of companies spent on calls and customer care activities. You save on hiring and training costs of customer care executives.

Chatbots have no dependency on moods, feelings, interpretations and have no perception of who should behave how nor do they respond considering this. Chatbots can be effective at any given time and can do mundane tasks with the same precision every time without being bored.

Why Chatbots Are The Future Of Customer Service?

A survey by Business Insider suggests that 80% of the enterprises will use chatbots by the year 2020.

Businesses like banks, telecom, retail chains, e-commerce, and many industries use chatbots as virtual assistants for customer support. Initial training costs are higher but the inquiry management and response saves costs and time in the long run. It works on FAQs, the questions that are similar but framed differently by the users. The software allows the bot to explore the existing data about the user and the information stored on the topic. 

The ability to understand the queries, recognition of terminology, dialogues, and presentation of the query is machine learning. A chatbot can identify if it is a statement or problem, select a proper template for the response, cross-check with the user if the understanding of the question is correct. 

The data is collected from various sources by the bot; is cleaned, segregated, marked, and classified for reference. The data built from the customer service center e-mails, manual chats, training material, and call recordings are useful in improving customer experience. The dialogues that happen in this process are repetitive and this helps template creation and standardization of responses. The personal information from this data removed intelligently works in favor of companies. The intention is to extract the question-answer sets for further use.

The sequencing of data helps in organic search for the chatbot reducing the mistakes in understanding the questions. Chatbots can rectify typo errors and reframe the question-received input. Speak the language your audience uses not in terms of spoken language but the latest terms. Solve actual problems by asking relevant questions. Avoid missing opportunities by being available 24X7. A single chatbot can enter into multiple conversations that earlier needed a lot of employees.

Independently owned company or a large organization both can benefit from AI Chatbots. The companies with fewer resources or high frequency of customer conversations, in both the cases the chatbots, can serve more practically. Salesforce survey indicates that 64% of the agents can solve complex problems as AI Chatbots deal with the basic ones. 

The customer experience is changing and the expectations are rising with the immediate response in 42% cases and response in less than 5 mins in 36% cases. The speed with which chatbots communicates, businesses will certainly churn information fast to serve faster. (Salesforce.com)

How Are Chatbots Used In Business?

Businesses and customers can get a reliable solution from assistance AI-based chatbots provide.

  • Answering questions 
  • Redirecting to FAQs
  • Providing detailed explanations 
  • Resolving complaints 
  • Bill payments 
  • Flight or restaurant booking 
  • Schedule meetings
  • Purchase items 
  • Managing subscriptions
  • Creating a brand image

How Are AI Chatbots Bettering Customer Experience And How Data Is Enabling This?

Artificial intelligence involves machine learning. AI creates intelligent machines, and ML creates systems that can learn from experience. The eBay chatbot enables a user to chat using smartphone or Google Home and it can purchase a product at the lowest price with your instructions.

The data collected by asking questions on chat, collected from surveys or any brochures/e-books the user downloads are stored for future use. This data helps to communicate with the user in the future. The preferences of users are stored; this creates a strong rapport and good impression. The feeling that the company knows the customer is special. The customer can relate to how well a company deals with data. Latest offers during the chat process ease registration, with existing information. There is no need for the user to create logins.

The data AI chatbots uses increases customer engagement rate, build brand awareness, and creates a personalized experience. The amounts of e-mails read less or not opened, due to flooded inboxes. The chatbots allow us to share the same amount of information at a faster pace. Chatbots can send text, image, pdf, or message in any form. This restriction less communication introduces increased activities of marketing and promotion.

Chatbots are effective and soon may replace the search window on the websites. Creating a chatbot requires an understanding of the business as well as a target customer. If your customer base for the product is the 16-30 age group of chatbot can be a perfect solution. For the age group of 55-65 maybe it the design with voice command or connect calls would work better instead. The internet connectivity is the dependency for chatbot hence the drops in the internet or limited availability can be an obstacle in serving efficiently.

The AI data is useful for training purpose, analysis, and serving the customers better. The situations that arise occasionally and some that arise regularly are included in training the customer representatives with the accumulated data.

The Future Of Customer Experience And Chatbot

AI chatbots are preferred by most of the companies as it saves time, money, and efforts. About 46% of internet users in the US would choose live support instead of a chatbot as per a survey by usabilla.com.

Machine learning increases the accuracy level of chatbots. ML allows the system to learn from the data but AI helps in decision-making. ML finds the solution for a user but AI will find an optimal solution. The advanced systems can go beyond the general chat. They let the user know that they are speaking to a Chatbot. This can change the way they ask questions and the response received from the bot can become more acceptable.

According to the report by Global Market Insights, the market worth of chatbot will be $1.34 billion by the year 2024 and nearly 42% will be dedicated to customer service.

Connect the AI Chatbots created by you with facebook messenger, Alexa, Siri or any of the reliable bots to increase efficiency. Chatbots can help take actions that are interaction or information-based. The user can actually complete the task of purchase, shopping, booking from the same chat window. There remains no need for a user to search for other ways of completing the task. It saves time and effort of the users and the companies get faster conversions.

AI can hold conversations as humans do, these dialogues create comfort and trust for users to participate in product/service-related feedback or surveys. The simple and complex form of communication with the prospects and existing customers is levered by the chatbots.

Chatbots were in making since the 1950s but today they have shape conversations using the triggers as keywords. Chatbots are better listeners and thus provide better solutions to the problems. The designing of chatbot involves humans hence the customization is programmable. 

The chatbot applications are useful in customer service, social media marketing, and order processing. Sectors like BFSI, Media& Entertainment, Healthcare, Retail, and Travel & Tourism are widely using these solutions. The deployment of Chatbots can be on-premise or cloud, both opens easy ways of dealing with customers. 

With gradual development, the concerns of delay in response, irrelevant suggestions, sharing of inaccurate information, misunderstood requests, or unhelpful responses have become a checkpoint. This is not the failure of chatbot but the development stage, which can assure improvement by the involvement of AI companies. The continuous growth in AI technology is the commitment of experts for betterment of human life including the business aspects.

How artificial intelligence is transforming ecommerce

Web-based business or e-Commerce means purchasing and selling of merchandise, items, or administrations over the web. Exchange of cash, assets, and information are additionally considered as e-Commerce. These business exchanges should be possible in four different ways: Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), Customer to Business (C2B). The standard meaning of E-business is a business exchange which is occurred over the web. 

The historical backdrop of e-commerce starts with the first-ever online deal. On 11 August 1994, a man sold a CD by the band Sting to his companion through his site NetMarket, an American retail stage. This is the primary case of a buyer buying an item from a business through the internet. From that point forward, e-commerce has advanced to make items simpler to find and buy through online retailers and commercial centers. Autonomous consultants, private ventures, and huge organizations have all profited by internet business, which empowers them to sell their merchandise and services at a scale that was impractical with customary disconnected retail. Worldwide e-commerce business deals are anticipated to reach $27 trillion by 2020. 

History of online business is inconceivable without Amazon and eBay which were among the first Internet organizations to permit electronic exchanges. Because of these companies we currently have an attractive web-based business division and appreciate the purchasing and selling points of interest of the Internet. Presently there are 5 biggest and most acclaimed overall Internet retailers: Amazon, Dell, Staples, Office Depot and Hewlett Packard. 

Evolution Of E-Commerce

CompuServe, a key critical internet business organization was built up by Dr. John R. Goltz and Jeffrey Wilkins by using a dial-up association in 1969. This was the first run through the web-based business was presented. Michael Aldrich developed electronic shopping in the year 1979, he is additionally considered as originator or designer of web-based business. This was finished by associating an exchange handling PC with an altered TV through a phone association. This was accomplished for transmission of secure information. 

This proceeded with the development of innovative AI systems, prompted the dispatch of the principal web-based business stages by Boston Computer Exchange in 1982. 

The 90s took the online business to the following level by presenting Book Stacks Unlimited as an online book shop by Charles M. Stack. It was one of the principal web-based shopping website made around then. Internet browser apparatus presented by Netscape Navigator in 1994. It was utilized on the Windows stage. The year 1995 denoted the notable improvement throughout the entire existence of web-based business as Amazon and eBay were propelled. Amazon was founded by Jeff Bezos, while Pierre Omidyar started eBay. 

PayPal was the first online business installment framework in 1998 that began as an instrument to make payments online. Alibaba began its web-based shopping stage in 1999 with more than $25 million as capital. Step-by-step it ended up becoming an e-commerce mammoth. 

Google kickstarted the advertisements promoting apparatus named Google AdWords as an approach to assist retailers with utilizing the compensation per-click (PPC) setting in 2000. Amazon Prime’s enrollment was propelled by Amazon in 2005 to enable clients to get free two-day shipping at a yearly charge. 

Significant changes that have occurred in the web-based business industry from 2017 to show. Huge retailers are pushed to sell on the web. Private companies have seen an ascent, with nearby merchants currently working together via web-based networking media stages. 

Operational expenses have been let down in the B2B area. Package conveyance expenses have seen a noteworthy ascent. A few internet business commercial centers have risen to empower more vendors to sell on the web. Coordinations has developed with the presentation of robotization instruments and AI. Online life has turned into an apparatus to build deals and market brand. The purchasing propensities for clients have essentially changed. 

Usage Of Data In Artifical Intelligence Systems

With regards to AI, there is nothing of the sort as information over-burden. Truth be told, it’s a remarkable inverse—the more information, the better. Since AI frameworks can process colossal measures of information, and their precision increments alongside information volume, the interest for information keeps on developing. 

Artificial intelligence makes it feasible for machines to gain insights, as a matter of fact, learn under new inputs and perform human-like errands. Most AI models that you find today, from chess-playing PCs to self-driving vehicles, depend intensely on profound learning and common language handling. Utilizing these innovations, PCs can be prepared to achieve explicit errands by handling a lot of information and perceiving designs in the information. 

Online businesses have two things in plenitude. One is an interminable rundown of items and other is information. Web-based businesses need to manage a ton of information consistently. This information can be similar to everyday deals, the all-out number of things sold, the number of requests got in a territory, and so forth. It needs to deal with client information too. 

Dealing with that measure of information isn’t workable for a human. Artificial intelligence systems can not just gather this information in a progressively organized structure but, also, create appropriate bits of knowledge out of this information. 

This aide in understanding the client’s behavior just as of an individual purchaser. Understanding the client purchasing behavior can make e-commerce make changes any place required and predict what purchases the client might make in the future.

Artificial Intelligence Systems & E-Commerce

With regards to shopping, numerous clients have chosen to take their business on the internet. Insights have assessed that the number is relied upon to ascend to more than 2 billion by 2021. 

This interest in online shopping has made organizations progressively inventive in the way they interact with consumers on the net. 

Gone are the days when clients had to search for an online business store. Presently, it’s the ideal opportunity for e-commerce businesses empowered with an Artificial Intelligence system that is changing the plan of action of numerous brands. The headway of new advancements has totally changed the present situation of the business. 

Henceforth, incorporating artificial intelligence systems in internet business has raised the advertising standards as well. These artificial intelligence systems can break down informational indexes, recognize designs and mak a customized understanding. This makes a one of a kind methodology that is more effective than any person. 

Advance Visual Search Engine

Recently AI presented the visual search motor in the e-commerce segment. It is one of the most invigorating innovations that allow a client to find what they need with only a solitary snap. We can say that AI is a determined innovation that empowers visual hunt. With a straightforward snap, the client can get fitting outcomes. 

AI frameworks enable Marketers to Easily Target Specific Customers

Artificial intelligence removes the mystery with regards to engaging perfect purchasers. Rather than making a one-size-fits-all advertisement, organizations would now be able to make promotions that are focused at explicit purchasers relying on their online conduct. 

Advertising and AI recommendation tools make it simpler to gather purchaser information, make dynamic advertisements that consider this data and disseminate significant promotions and substance on stages where perfect purchasers are probably going to see it.

AI training data have even prompted increasingly successful retargeting techniques. Presently, companies like Facebook make it simpler for organizations to retarget advertisements in spots where clients go on the web. 

AI recommendations can Help Improve Search Results 

An advertiser can make the most captivating and viable web duplicate on the planet. Be that as it may, it won’t enable them to arrive at their business objectives if clients can’t discover it. An ever-increasing number of clients are discovering items utilizing search engines. 

An easy to use website with important keywords, meta depictions, and labels can go far in reaching the perfect customer. Therefore, AI systems can enable advertisers to drive more traffic to their site and arrange content in a manner that urges purchasers to consistent course through your internet business store. The present advertisers are vigorously worried about the client experience and creating sites that rank high on web crawlers. 

Make Progressively Effective Deals

If you need to make a solid deals message that reached the customer at the perfect time on the correct stage, at that point incorporating AI into your CRM is the best approach. 

Numerous AI chatbots empower common language learning and voice info, for example, Siri or Alexa. This enables a CRM framework to answer client inquiries, tackle their issues and even recognize new open doors for the business. Some AI-driven CRM frameworks can even perform various tasks to deal with every one of these capacities and the sky is the limit from there. 

AI Chatbots

The web-based business destinations currently offer every minute of everyday help and this is a result of chatbots. Before this, AI chatbots just offered standard answers, presently they have transformed into wise machines which see all issues that need to be managed. 

A few web-based shopping locales presently have AI chatbots to help individuals settle on purchasing choices. Indeed, even applications like Facebook Messenger have AI chatbots through which potential clients can speak with the merchant site and offer help with the purchasing procedure. These bots convey by utilizing either discourse or message or both. 

Personalization

With advances in computerized reasoning and AI training data, new profound personalization procedures have entered internet business. Personalization is the capacity to utilize mass-shopper and individual information to tweak content and web interfaces to the client. 

Personalization stands apart from customary promoting enabling balanced discussions with purchasers. Great personalization can expand commitment, transformations, and diminishing time to exchange. For instance, online retailers can track web conduct over various touch focuses (portable, web, and email). 

Better Decision Making

Ecommerce can settle on better choices with the use of artificial insight. Information experts need to deal with a great deal of information consistently. This information is unreasonably tremendous for them to deal with. Also, breaking down the information likewise turns into a troublesome undertaking. 

Man-made reasoning has secured the basic leadership procedure of e-commerce. Man-made intelligence calculations can without much of a stretch distinguish the mind-boggling designs in the information by anticipating client conduct and their obtaining design.

Future Prospects

New examinations anticipated that the overall e-commerce deals will arrive at another high by 2021. Online business organizations ought to envision a 265% growth from $1.3 trillion in 2014 to $4.9 trillion in 2021, according to statista. This demonstrates the fate of relentless upward pattern without any indications of decay. 

As the lines obscure between the physical and advanced condition, numerous channels will turn out to be increasingly pervasive in clients’ way to buy. This is proved by 73% of clients utilizing different channels during their shopping venture. 

Online business is a consistently extending world. With the escalating obtaining intensity of worldwide shoppers, the expansion of online life clients, and the ceaselessly advancing foundation and innovation, the eventual fate of eCommerce in 2019 and past is still progressively energetic as ever. 

AI training data and AI recommendations have made life simpler for the retailers just as purchasers. Web-based business sites are seeing an exponential climb in their deals. Man-made consciousness has helped E-Commerce sites in giving better client experience.