Human intervention is no longer a desirable mode of support now that chatbots have taken up a satisfactory space in the realms of Artificial Intelligence and Machine Learning. Chatbots are now used in almost every field, on every scale. Needless to say, they may soon be that indispensable pandora box that all types of enterprises are waiting for.
The World Wide Web is replete with examples
Chatbots are used in many industries, namely, Healthcare for patient identification, assigning doctors according to patient history, prescribing medicine based on past medical records, billing and invoicing processes; Banking and Finance for simplifying customer queries and segregating them efficiently; Retail for responding to customer grievances and other issues, place and locate orders, market products; and many other areas like entertainment, travel, service businesses etc., where human intervention seems more expensive in terms of time as well as money.
There are some inevitable questions that come in mind with respect to chatbots: Are they reliable? Are they effective enough? Are they worth the time and cost? Can they replace human intervention in all respects of the term in the future? Let us try and answer those questions.
Would you prefer human intervention?
Or would you rather just send a text to find a solution? According to IBM Watson, 70% of consumers prefer messaging over calling for customer support. 69% of consumers prefer chatbots for quick communication with brands (based on Salesforce). Don’t be surprised, it’s only ‘natural’! Indeed, Natural Language Processing (NLP) has made the the world of chatbots more attractive and lucrative. NLP is that process that enables the chatbot to create sensibility out of the text inputs derived from users. It then tries to emulate human behaviour and respond in a similar fashion. Therefore, minimising human intervention. This gives the users a personalised response thus making them feel a bit more secure.
Are you searching for that perfect soulmate that will never abandon your side?
Fear not! Because a chatbot works 24×7, all 365 days of a year. That’s incredible because with human intervention, we cannot achieve that kind of a target. This makes help available at all times of the day with faster response times, in all kinds of weather. A chatbot does not need any coffee breaks or smoke breaks. Emergency cases would be handled more efficiently without any human involvement. Queries at odd hours of the day or from around the various time zones would be catered to with ease.
An examination by Lithium technologies found that 53% of clients who made an inquiry on Twitter anticipated that the brand should react in under 60 minutes. Having a chatbot that bolsters the groups by answering questions all day, every day would ease that weight.
Mitigating human errors is costly
Did you know that chatbots are incredibly efficient, reducing errors by up to 100%? Chatbots don’t have the tendency to forget and therefore, make no errors. Chatbots possess smart algorithms along with programming and this leads to less number of mistakes.
Charter Communications, a cable and internet provider, reported a 500% ROI in six months and decreased the time it took for customers to reset passwords by 50%. It also reduced its live chat volume by about 83%. Do you see the power of chatbots over human intervention?
Are you looking to trim your business costs?
Chatbots Magazine claims that businesses can reduce customer service costs by about 30% by implementing chatbots and virtual agents. Chatbots have already saving costs around the world of about $20 billion and we are expecting the number to rise, according to a blog article by xoriant.com. Juniper Research has analysed that as compared to human intervention, chatbots can cut customer supporting costs by more than $8 billion by 2022.
Do you see humans anywhere in this scenario?
Through NLP, AI and ML, chatbots have become more intuitive than ever. Human intervention is no more required except when handling really complex queries. Chatbots will get easier to build, they will continue to learn and emulate human behaviour, providing for more candid conversations leading to customer satisfaction and thus business profitability. It is a technological chain reaction and one that will create a revolution.
Our brainchild, Enagti, is the best free chatbot platform you will find! It helps you build robust and personalised chatbots with those much-needed features: Multi-platform support, Web widget integration, 365x24x7 support, easy chatbot training, response personalisation etc., and human intervention only when the customer requests for it. Request for a demo and let’s Engati!
Think future. Think Engati.