These days, the first interaction we have with any customer service of a company is normally through intelligent digital assistants. They are being used across companies as they are cost-effective, quick and consistent. They are the new AI tool the chatbots.

So, what is a chatbot?

A chatbot is a computer program that is driven by an Artificial intelligence system that performs internet customer discussions. These software applications mimic written or spoken human speech for the purpose of stimulating conversation or interaction with a real person. These interactions are programmed to help the customer on normal common issues but can address complicated topics like troubleshooting also.

There is indeed a growing market for chatbots and is expected to grow exponentially every year as 85% of the customer interactions will be managed without a human by 2025.

Advantages of using chatbots in customer service

With the automation of different services, it is natural to expect the exponential demand addressing customer related queries. Chatbots are rapidly evolving as a suitable response to this need.

• Chatbots save the time of customer support representatives.
• Effective where the solutions are well-known and predictable.
• Chatbots are available round the clock.
• Using CRM, companies can gather the customer's crucial information.
• Chatbots significantly enhance the customer experience and relationship.

Though the advantages of chatbots are obvious yet they are certainly not recommended in sensitive cases and should be combined with human agents.

Some industries which are effectively using Chatbots

Banking

In banking, chatbots can assist the clients in handling cash, monitoring expenditures and analyzing expenditures across various applications.

Automated Insurance Agent

Chatbots provide all policy-related data as discounts, paid bills and upcoming payments, etc. They can even recommend policies to the customers depending on the requirements of the customer.

Hospitality Industry

Chatbots have played a massive role in the hospitality industry by helping customers make bookings, getting information about travel packages or inquiring about discounts and deals.

Healthcare Industry

Health care institutions are benefitting a lot from Chatbot technology as they assist in booking appointments and providing basic medical information.

With quick and easy interaction, a bot helps passage the information easily. Overall, the chatbots are assisting businesses by helping the customers by being on-call all round the clock. It helps businesses as it conveys to the customers that the companies are going the extra mile to serve them.

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