The impact of artificial intelligence and web chat bots have on business

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The unprecedented success intelligent assistants such as Siri, Google Assistant, and Cortana have achieved has changed the communication landscape, especially in the business world. Businesses have long been using chatbots, a form of intelligent assistant, but they have not been efficient, and many clients complained that they could easily tell they are talking to a machine.

However, going by the success of these intelligent assistants, businesses have adapted and developed more efficient chatbots to take over repetitive tasks. A study by Spiceworks reveals that 40% of large companies will implement intelligent assistants or chatbots this year.

These businesses have even taken it a step further by using it in combination with artificial intelligence (AI). AI uses machine learning algorithms to learn the patterns of communication. After a while, this chatbot makes it difficult to tell whether you are chatting with a human or a machine.

Some companies are even using the machine learning algorithm to develop a sales funnel that places potential clients on different parts of the funnel. Chatbots and artificial intelligence have had a significant impact on many businesses in various industries.

Below are the most salient impacts on businesses:

  1. 24 Hour Availability

Many customer service departments are understaffed. The need to hire is mainly guided by feasibility studies which may not accurately depict the amount of work in various departments. As a result, clients and even potential clients are put on hold as some music plays in the background or an advert of the company’s new services runs.

This can be extremely annoying to people who want immediate help.

A web chat tool helps in this regard by being active all the time. You can rest assured that your clients will receive rapid responses regardless of the time of day they try to contact the company.

  1. Fewer Errors

Unlike human beings, chatbots do not make errors due to fatigue. The automated answers they provide to clients will be accurate most of the time.

Businesses using AI will experience increased accuracy over time as the machines learn the clients’ conversation patterns.

  1. Handling of Simple Transactions

Chatbots can handle many simple transactions. They can help users buy food from fast food restaurants, book a hotel room, buy a train ticket and other simple transactions.

During special holidays and events, many businesses use chatbots to handle the high number of requests for flowers and gifts. This helps them maximize profits during such days.

  1. Automation of Repetitive Actions

Doing the same work repeatedly can lead to low motivation levels among your employees. At their fundamental core, human beings love challenges; they want to make a difference.

Chatbots can take over this repetitive work so that your employees focus on more challenging and satisfying work. It's a simple, but a very effective way of keeping your employees happy.

  1. Relatively Low Maintenance Costs

A vibrant information technology (IT) department is not necessary to implement chatbots and artificial intelligence at your company. There are many companies selling chatbot software that can be easily configured to your customer relationship management system.

Once your employees are trained on how to use the software, you will not spend a lot maintaining the software. One thing that's for sure; it is certainly cheaper than hiring new customer service agents.

Conclusion

In conclusion, the business world is increasingly moving towards high-efficiency systems that can offer credible insights into how the employees behave. Just like data analytics, chatbots and AI will take over the business world by storm in the coming years for the simple reasons that it improves business operations.

Adapting early will ensure that you and your business maintain that competitive advantage needed to succeed.