If you own an Alexa or Google Home, you are aware that artificial intelligence (AI) is a hot trend in the IT world. AI and AI chatbots are a rapidly growing segment of the IT world that business owners need to take advantage of to improve efficiency and productivity. AI digital chatbots, in particular, are becoming commonplace and an accepted part of the online culture of many organizations. In fact, chatbots can not only decrease operational costs while increasing response time, it can also be omni-channel, multi-lingual, 24/7 ambassadors for your brand. Let’s take a look at the benefits of AI chatbots for your website and organization as a whole.
The Future of AI
AI technology is quickly proving that it is NOT a fad that will fade away in the next few years. TechJury, an unbiased review site of business software, reports that the future of AI is going to be robust. The site’s studies show that, “By 2025, the global AI market is expected to be almost $60 billion.” Additionally, they report that, “AI-powered voice and digital assistants will reach 8 billion by 2023.” That means that, for the time being, AI technology, like chatbots that pop up when we enter a new website, will be here for the long haul.
What Are Chatbots?
Haven’t encountered a chatbot yet? You will soon enough, possibly the next time you log on to our Spectra Networks site. A chatbot is simply a software program that initiates conversations with visitors to your site. A chatbot is meant to use the visitor’s natural language to answer questions about your services or products in an efficient and consistent manner. While this manner of interaction may seem to be lacking in the human component of customer service, it is becoming a preferred method of finding answers especially when many of us are searching online at off-hours. Not only are the answers quick with a chatbot, but they can be found 24/7, whereas a human response may need to take place during business hours, and could take some time to find the right answer.
The Importance & Benefits of Chatbots
We have touched on some of the key components of installing an AI chatbot to your website, but let’s look at some of the most important benefits of this technology.
Customer Service 24/7
One of the more important benefits of chatbots is that they can answer questions about your site, products, or services around the clock (24/7) with very little overhead cost. Most consumers browse online at all hours of the day and night. A chatbot can provide fast and consistent answers to your most asked questions at any time.
Multi-lingual and Personalization Ability
Chatbots can be programmed to answer questions and queries in many different languages based upon your market and reach. These chatbots can also keep the conversation in a natural and casual tone to seem more personal. Additionally, when a consumer lands on your page, a chatbot can engage them and steer them in the right direction. The chatbot software is also aware of a return customer and where they last looked for answers on your page.
Automation & Self Service
More and more consumers are demanding the ability to order and deal with issues on their own. With automated ordering via chatbots and the self-serve nature of this technology, consumers are getting what they want without human interaction.
Cost Savings & Increased Sales
The bottom line for chatbots is that they are worth their weight in gold. Not only can they make recommendations to customers but they may actually increase your sales dramatically. According to AI Multiple, “Chatbots have increased sales by 67% on average.” Additionally, Juniper Research claimed that the cost savings from using chatbots in the Banking Industry is estimated at $209 M in 2019 and it will reach $7.3 B globally by 2023.”Talk to our team at Spectra if you are considering adding chatbots to your site. We can take a look at your needs and help you determine the right AI choices for your system.
