The progressive advance of technology has seen an increase in businesses moving from traditional to digital platforms to transact with consumers. Convenience through technology is being carried out by businesses by implementing AI techniques on their digital platforms. One AI technique that is growing in its application and use is chatbots. Chatbot, short for chatterbot, is an AI feature that can be embedded and used through any major messaging application. Chatbots are evolving day by day. Although they are in use for a while, they are transforming now. Chatbots are becoming intelligent, smarter, faster, and more importantly they are tailoring themselves to the need of the hour.
Simply put, Chatbots are Artificial Learning/Machine Learning-based programs aka models that can interpret sentences to respond as if a human is answering the questions by understanding the intent behind the question or clarification requested. Most of the Artificial Intelligence-based programs/models are trained on some kind of dataset depending upon the expected outcome, Chatbots are trained on a wide variety of questions and the language in which they are expected to answer. Post-training completion the bots are tested for various questions and then the dataset is further fine-tuned based on the expected responses.
Chatbots such as ELIZA and PARRY were early attempts to create programs that could at least temporarily make a real person think they were conversing with another person. PARRY's effectiveness was benchmarked in the early 1970s. Chatbots have come a long way since then. Developers build modern chatbots on AI technologies, including deep learning, NLP and machine learning (ML) algorithms. These chatbots require massive amounts of data.
The more an end user interacts with the bot, the better its voice recognition predicts appropriate responses. Chatbot use is on the rise in business and consumer markets. As chatbots improve, consumers have less to quarrel about while interacting with them. Between advanced technology and a societal transition to more passive, text-based communication, chatbots help fill a niche that phone calls used to fill.
Vikram Goyal, senior director at WNS Vuram,said, "A conversational AI chatbot on the Indian railway ticketing system reduces costs, achieves higher customer satisfaction, and generates revenue. Chatbots help users to register their complaints, and ask queries for their products/services across multiple channels (Mobile/Web/Social Media Platforms), this has helped reduce the support call volumes by 30 to 40 per cent. Chatbots help the manufacturing industry in their factories to reduce their machine downtime by more than 30 per cent to improve operational efficiency, in this use case machines talk to humans and vice-versa in multiple languages."
The key to increase sales and customer loyalty is by improving your customer’s experience. Customers are smarter today than they were five years ago and they expect you to be adept at your communications with them. Chatbots have become quicker in responding to customers than before. Customers want immediate response to their query, chatbot’s quick response helps customers to save their time and get resolution in no time. Chatbot’s 24/7 availability is a boon.
Chatbots can provide immediate assistance to customers at any time of the day, eliminating the need to wait for a human agent. This enhances the overall customer experience by providing quick and convenient support. Chatbots can handle multiple conversations simultaneously, allowing businesses to handle a large volume of customer inquiries without compromising response times. Chatbots also ensure consistency in the information provided, as they follow predefined scripts or guidelines, minimising the risk of human errors or inconsistencies.
"Chatbots revolutionise customer support by delivering instant responses and efficiently resolving queries, leading to enhanced satisfaction. With their advanced capabilities, these automated assistants streamline customer service, providing round-the-clock assistance. By leveraging natural language processing and machine learning, chatbots understand customer needs and offer personalised solutions. They eliminate wait times, ensuring prompt assistance and reducing customer frustration. Furthermore, chatbots maintain consistent and accurate information across channels, ensuring seamless interactions. Through their efficiency and effectiveness, chatbots empower businesses to meet customer demands swiftly, driving improved satisfaction levels and forging stronger customer relationships." said Imtiaz Bellary, managing director, Engati.
Our country is diverse, having plenty of languages. A single chatbot can handle several languages and toggle between them, depending on the customer's needs. Customers can interact with chatbot in their native language, streamlining the support experience which helps greatly in overcoming language barriers. Overall, chatbots provide a faster, more personalised, and consistent customer experience, contributing to increased customer satisfaction and loyalty.
"Chatbots have transformed customer service by delivering a more seamless and efficient experience. Chatbots, with their rapid responses and round-the-clock availability, ensure that clients never have to wait for help. Chatbots boost customer happiness to new heights by optimising support operations and quickly answering problems. These digital assistants enable firms to deliver personalised and targeted solutions that successfully cater to individual demands. Chatbots easily manage multimedia content, such as photographs and videos, thanks to their media-centric skills, making interactions entertaining and dynamic. Chatbots have become the best ally for businesses in this digital era, delivering increased customer service and paving the path for a more satisfied and loyal consumer base," Engati added.
[Disclaimer: The opinions, beliefs, and views expressed by the various authors and forum participants on this website are personal and do not reflect the opinions, beliefs, and views of ABP News Network Pvt Ltd.]