Original article was published by samen tanay singh on Artificial Intelligence on Medium


75% of businesses use AI bots for immediate customer attention. Brands are growing profitability through reduced customer service costs, increased sales/service through Chatbots. AI Chatbots can optimize your customer experiences and help to increase your business.

Chatbots are easing the pain industries are facing today… Customer service.

Ever-increasing customer expectation reduced waiting time/attention span, escalating customer service costs, challenging immediate response/solution demand are massive challenges that businesses are facing today.

Businesses get 265 billion customer service calls a year for which they spend $1.3 trillion (IBM)

Heres how RPA- Robotic Process automation Changed the face of Indian Accounting

Chatbot Types ( AI-Based | Command based | WhatsApp | Skype | Command)

Here’s where Chatbots make a huge difference.

They help companies to save customer service costs by speeding up response times, freeing up executives for more important work, and answering up to 80% of routine customer questions.

Chatbot industry Latest Statistics

what is a Chatbot?

An AI-powered computer program that can interact with humans over the internet. Companies use them to improve customer experience to support and scale business and save tons of money.

Chats use machine learning. This helps them to simulate human discussions. Because of AI, they can understand language (not just commands), learn from human interactions (which means the more they interact with humans, the wiser and smarter they become). Thus they can create huge opportunities for lead generation and nurture.

Businesses now agree that with minimal efforts, these bots can deliver substantial ROI and can easily handle up to 80% of common inquiries.

An IBM research predicts that within the next 5 years, 90% of all customers’ inquiries will be dealt through Chatbots, reducing the business costs by $8 billion.

Backed by this information let’s now review how bots can help you in delivering smart customer satisfaction and traction your business growth.

1. Remarkable Customer Support

More than 80% of online shoppers need support. They may have navigation issues, questions on delivery, money back methods, complaints, and many others. In all these scenarios and a lot more, Chatbots can almost work like a virtual salesperson in real-time.

With AI power, they can ask relevant and interactive questions to customers to understand their problems, give appropriate responses, and assist them with videos, blogs, product pages to help them in their sales journey.

2. Zero Downtime

Today, customer service is one of the most critical factors for a company’s success. Both international and local businesses can create a positive impact and increase customer satisfaction with the help of 24/7 customer service.

3. No Time/Holiday Bar

Chatbots beat time zones working 24/7 x 365 without needing a break or a holiday. Customers from anywhere in the world can get help in real-time instantly. Moreover, if need be, the bots can escalate the problem of a customer to a human representative should the situation demands. On the other hand, a human customer service agent gets more time, energy, and scope to deal with complicated cases. They are freed up from routine jobs.

4. Extremely Social

Businesses that engage with customers on social media platforms get 20%-40% more business. Here Chatbots can come very handy in supporting customer engagement. They supply one piece of information at a time, sustaining a conversation and involvement for a longer duration.

5. Grow Business From Meaningful Insight

Chatbots are great for tracking consumer behavior (businesses are straining their nerves to learn). These bots can help you understand which of your products/services need more attention, need to be marketed differently, relaunched, or marketed more (or less).

From the feedback that Chatbots collect by asking questions to customers, a brand can make a significant improvement in its service/product.

Bot intelligence gathered can also help a business to optimize web pages. Say, for example, a website landing page is gathering a huge organic crowd. But they are not getting converted to leads. A Chatbot here can come in help by collecting information from visitors why they are leaving.

Are you using Chatbots? What are your experiences? We would be eager to know!