AI Chatbot : Our New Best Friend

Last Updated on May 13, 2018 by Editor Futurescope

Every day I am more convinced that the chatbot are our best partners. And you will ask me … the best buddies … but how? For the companies, by the saving of costs that they allow? Or  for the users, the service they are able to offer?

What you ask to me if this new invention offers significant improvements for both companies and individuals? Indeed, if this were so the only question that remains to be answered is how much time will pass until we are surrounded by these robots that are becoming so fashionable.

What is a chatbot?

Although it may seen that chatbots are a very recent “invention”, the reality is that the first chatbot was created in 1964. Eliza, as this first prototype chaibots, was able to imitate the responses of a psychotherapist and simulate certain conversations. However, the next generation of Eliza had to arrive to obtain greater reputation. The development of these last years of artificial intelligence along with the advance of cognitive technology is allowing this chatbot.

Interacting with a chatbot or a human

It depends. In certain occasions, companies worry that a “robotic” image of the chatbot will be included during the conversations. So that it is very clear to us that we are communicating with a machine. However, this is not always the case and it is also possible that you are “cheated”. That is, you do not know if you are talking to a robot or a “human”.

The chatbot are our best buddies to meet our needs

I do not hesitate to say that chatbots are going to modify our daily habits. Perhaps it would be more appropriate to point out that chatbots are the ones that will best adapt to the demanding and changing habits of consumers. Next we will discuss the advantages that our robotic friends will offer, both to the clients and to the companies themselves;

• The first reason why we think that the chatbot are our best partners? Where the client of bank is going to simplify day to day. As it is easier to ask by voice or text “what is my balance today” than to enter the corresponding application of the bank.
• The fact that personalized conversations arise. Opens a door to a new way of buying. Since it will allow you to know better the “right moments” of your client.
• Beyond the conversation that takes place with the chatbot, the acquired information will make  possible to generate new digital marketing strategies or segmentation options.
• As we develop, the chatbot are emerging as a great substitute for the current “Customer Service”. Offering certain events with a better response, greater time availability and sometimes significantly lower cost.
• Another advantage is that the chatbot are facilitate to the consumer. Making change the way of consumer search experience that could well be done entirely by the chatbot.

If you are still not convinced after reading these 5 advantages that the chatbot are our best partners, we will show some examples that are already being used by different companies.

Banks and insurance companies, pioneers in their relationship with chatbots

The growing competitiveness in the banking sector, the appearance of new players in the sector such as fintech companies, or the constant threat from GAFA companies (Google, Amazon, Facebook and Apple) is putting pressure on the sector to implement new developments. Here chatbots play a crucial role by optimizing resources. These are the financial entities that have already started experimenting with chatbot:

1. Caixa Bank has carried out the launch of Neo. A chatbot that solves customer queries, both through text and voice. This chatbot is integrated directly into your mobile application.
2. Banco Santander is (probably) the most active entity when it comes to working with chatbot. Internally, it allows its employees to have their doubts about insurance automatically answered by a chatbot. In the case of the United Kingdom, it is possible for a private individual to order transfers directly from Siri. That is, through the virtual assistant that Apple has developed and that intends to install it in the homes of all of us. In Brazil, this technology is being used as an alternative to Telephone Support Services.
3. However, not all companies that are in the experimentation phase with the chatbot. We can refer to Corti.bot that surprised last Christmas. An online gift recommendation robot that worked through Facebook Messenger. This chatbot was able to offer answers to clients for 24 hours with an average rate of 2000 recommendations per hour.

Conclusions

Let’s be honest, few years ago we see how many companies do not offer a quality customer service, no matter how much they say that “the customer is always in the center”. Agents poorly paid, poorly trained, frustrated, impatient … unfortunately, this is the time today many of the technical services we know today. Chatbot allows answering these same questions in a friendly and fun way around 24 hours a day.

According to the website planetachatbot the prices associated with the IBM Watson solution have a cost of 0.0025 dollars per call. While in the case of Amazon Lex the cost would be somewhat higher, $ 0.004. In addition, prices would be significantly lower if instead of calls are resolved through text messaging. Both in the case of IBM and Watson let you try their chatbot for free for a period of time. Therefore, you have no excuses of the benefits that these robots offer you.

We must not forget the speed of progress that technology has. So in the coming years apparently these prices will continue to decline, at the same time that chatbot will be available with more resources and features. Therefore, I am sorry to tell you that there is no turning back. Everything points to the fact that the chatbot are our best allies and the best thing is to get along with them. What do you think?

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