3 Benefits of Using Chatbots in Your Business

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In a previous post outlining the technological trends to expect in 2018, chatbots featured high on the list of emerging tech — especially since their development is as close as we can get to highly functional AI this year. However, many businesses still don’t know what chatbots are or how they can help their business perform at an optimal level.

Chatbots are essentially conversational agents. Their functions can range from customer services to payment gateways and even retail space, where chatbots are helping customers navigate physical locations of stores and find exactly what they are looking for. They operate on Natural Language Processing technology that studies human conversations and interactions, learns how language works — what are the nuances, such as wordplay or metaphors — and formulate responses accordingly. They can also be trained to recognise mistakes which prevents them from repeating them again.

Furthermore, these chatbots learn particulars about each individual — what are their preferences, likes, dislikes, when they are most likely to spend money or when they go out, when they prefer to travel and other such key information. Later this helps the chatbot make personalised recommendations and decisions based on the individual’s choices.

This article details the 3 biggest benefits of implementing chatbots in your business:

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Chatbots are incredibly useful in many more ways. The simpler design and interfaces being used are also helpful in integrating older generations with newer technology, which they usually find hard to understand. Chatbots can change how the elderly and disabled are cared for, how we provide assistance to customers and are even useful in the hospitality industry, where many travelers who do not speak the local language can receive assistance from a chatbot in their own language. In my next article, I will be detailing some of the new and exciting ways in which companies are employing chatbots.

About the Author
Anusha Sharma is the creative writer at an Artificial Intelligence firm, Artivatic Data Labs. Her work at the company involves creation of content to demystify Artificial Intelligence for readers, where she clarifies the processes and quell fears about the future of AI.
When not researching the practical applications of Artificial Intelligence in BFSI, Robotics and healthcare, Anusha enjoys reading books, painting, sleeping and making off-beat jokes. You can reach out to her at Anusha@artivatic.ai

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