How to unlock your business value with AI-Powered Chatbots?

April 29, 2019

How to unlock your business value with AI-Powered Chatbots?

In this world of social media and the internet, almost everyone has learned or tried to research about Artificial Intelligence. However, here’s a small brief for those who are still not clear about this concept.

AI (Artificial Intelligence) is a technology imitating human intelligence. It’s not a new term, AI came in the public's eye for the first time in 1963 brought up by Dr. Richard McCarthy at Dartmouth.

Initially, the powerful capabilities of AI were not understood. And now AI is lending its services in several leading sectors. These include automation, hardware inspection, cloud services, big data management, and advanced analytics.

The financial market was the first to realize AI's potential. Since then, this industry sector has been harnessing this technology and maximizing its value.

Even from the customer perspective, the interface that requires fewer inputs & generates quicker results are more satisfying. A few real-life examples are biometrics, voice commands, and recommendations during an online search.

India has almost 300 million smartphone users that are a fraction of the global count of 2.7 billion. Among all the applications, chatting is one of the most important features of smartphones today.

For those who don’t know, WhatsApp alone handles global traffic of more than 30 billion texts daily. It is greater than the 23 billion counts for text messages daily worldwide.

It simply concludes that more people prefer text chat over the telephonic conversation. In the 21st century, people have become receptive to non-human interactions. This is due to technological dependency and lesser interest in any kind of effort, be it talking!

This gave birth to a new arena of AI-powered chatbots. Chatbots rely on machine learning and natural language understanding. Using the same, a Chabot can handle specific tasks and replace human assistants.