What are chatbots, and how can they benefit businesses?

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What are chatbots, and how can they benefit businesses?

We live in a time of total automation. More and more businesses adopt new computer systems, robotics, and Artificial Intelligence to replace human beings. In recent years, chatbots have become increasingly popular. According to various studies, soon people will have more conversations with chatbots than with their partners. But what are chatbots and how can they help your business? 

What are chatbots?

The chatbot is a computer program that simulates written or spoken human interactions. There are different types of chatbots from Amazon Alexa and Siri (which know various topics) to the simple scripted online bots on the websites. 

Not all bots use Artificial Intelligence. Scripped or rule-based chatbots follow predetermined paths. They are not developed to become smarter and understand context or intentions. 

AI-powered chatbots are based on Natural Language Processing and Machine Learning algorithms. Unlike scripted ones, they are more complex and can provide a more natural type of conversation. The AI chatbots are able to produce a personalized response, learn from past conversations, and improve in the future.

The chatbots can run on various messaging platforms, such as Slack, Telegram, Viber, on the website or inside another type of application (e-commerce, banking, etc).

Today, these virtual assistants are capable of replacing multiple services, such as call centers or customer services. 

Benefits of chatbots 

Chatbots can be useful to businesses both internally and externally. Internally – by saving time and money on additional manpower and boosting staff productivity. Externally – by improving customer experience and strengthen digital presence. 

Bots never sleep, call in sick, get tired or angry. Therefore, they are available 24/7 and can handle multiple customer interactions simultaneously. For example, if you use a chatbot on a website, it can provide instant automatic responses to most questions. So there is no need for your customers to wait until receiving the required information. 

If human productivity can fall due to routine, this is not the case for bots. The automation of monotonous work not only optimize company processes but also help your employees to focus on solving more complex business tasks.

In KeyToTech we use our internally developed Slack bot for daily standups remindings, and monitoring teams progress. This has helped reduce the workload of our managers and get valuable data. 

Nowadays the digital presence of brands is very important. Chatbots provide another channel to reach out to your customers through the most popular apps like Facebook Messanger. Moreover, you can gain a deeper understanding of your client’s pain points thanks to records bots provide. 

To conclude

Businesses must keep up with the rapid development of technology to remain competitive. Chatbots optimize your business expenses, increase customer engagement, monitor data, and attract new leads. That’s why developing a custom chatbot for your company can be a good idea. 

Of course, chatbots still have to mature in many ways. But with the fast development of AI and Machine Learning, we’ll be able to see great changes very soon.