The use of Chatbots is continuously growing. Many organizations are trying to explore how chatbots can be leveraged to enhance customer experience.The escalation of chatbots began in early 2016, and since then tech giants have either created a platform to develop bots or made one for themselves. Gartner report suggests that by 2020, 85% of customer interactions will be handled by chatbots without any human intervention.
The question arises, can Chatbots actually replace humans? While this question has been doing the rounds for a while now, we shall discuss its possibility in this article.
There is no doubt about the fact that bots have made almost every business process more effective and valuable. Facebook has declared that with the help of its Messenger platform, its next digital frontier would include artificial intelligence or AI-powered bots that will hold the capability of making decisions just like humans. So yes, the human intervention we have today will effectively be reduced once this plan actually gives positive results.
There are other things that are powering chatbots too. Natural language processing and speech recognition tools are being used simultaneously with machine learning and artificial intelligence to give chatbots an edge it had never seen before. They are now able to recognize many languages, every accent and give instant results.
The database for understanding the variation of words and the manner different communities speak, including the informal addresses or slangs, is huge. It’s been updated each day, every second to make it stronger like never before. There are so many messaging platforms that have already included multiple languages recognition in their platform that’s making the chatbot ecosystem stronger day by day.
The advancements in the field of chatbots have been absolutely amazing and for any tech enthusiast. When we look at a marketer or a brand’s point of view, chatbots are the best available tool that can help automate customer service. Bots help any organization to scale at a rate and touch million people in no time. Considering the current trend of downloading fewer apps and spending relatively less time interacting with them, it has become very important for brands to integrate seamlessly into the lives of consumers – and chatbots help to achieve the same.
On the downside, not every task can be left for bots to decide. No level of artificial intelligence can be matched with human’s capability to make to analyze the particular market condition and making the appropriate business decision. Yes, from a user point of view, bots allow an almost instant solution to their problems, but there definitely are problems that require human intervention to resolve.
Chatbots are not perfect and the technology is not advanced enough to have a perfect, human-like conversational exchanges. Personalisation is still limited and for some important decisions, humans are always a better choice.
As much as we love the chatbot technology, and it has shown us a huge list of benefits that it can provide, we still believe, it still has time to take over humans. However, the future can be full of surprises and it will be interesting to see how the role of bots change with time.
Abhishek Prasad is the Director, Head of Digital Transformation at Aexonic Technologies. He has been a Management Consultant, with the first-hand experience of how technology can drive business change. Worked with Big Four accounting firm, he is experienced in advanced analytics and reporting within the professional services, Life Science, Utilities, and banking industries. Abhishek has consulted with multiple fortune 100 companies and startups, so understands the challenges faced by large enterprises and how technology can help them gain competitive advantage. He has been an SAP consultant and led multiple business transformation projects across the globe.