Businesses are already excited about what the marketing possibilities of Chatbots hold. For the next few years, we expect the craze in chatbots only to develop further.

Experts predict that chatbots will be capable of handling multiple interactions at a go. The bots are expected to mimic and replicate a human personality. Soon, businesses will no longer be overwhelmed by orders, queries, or complaints.

Chatbots Are The Future Of Successful Investments

With the help of Al, specific computer programs can be used to interact and recognize a customer’s needs. You most likely have already talked to one at some point. Perhaps you were ordering something online, booking a flight, or making an individual request or complaint to a store. Have you noted how fast the company replied? It was probably a chatbot. Many brands, such as Neiman Marcus, are experimenting with implementing chatbots into their customer service department, to be able to provide their customers with instant assistance.

Research shows the chatbots market will be worth $1.23 billion by 2020 with an annual increase rate of 24%. In the next five years, chatbots will be playing an integral role in customer service such that call centers may become extinct. This is because they not only make customer service smooth and fast, but also reduce the workload and chances of customer-business conflicts.

The Giant Companies Are Extensively Using Chatbots

Big brands such as Spotify, Starbucks, Lyft, and Mastercard, just to name a few, are already using chatbots to interact with customers. Spotify, for instance, uses bots to help users to search and listen to music they like. Depending on your playlist, you also get similar recommendations.

The Starbucks chatbot, on the other hand, lets users order foods or drinks through a message or voice call. It then tells you the cost and time of the delivery.

Chatbots are quickly taking over customer care. A study by Helpshift indicated that about 48% of customers have already interacted with chatbots at some point when making an online purchase.

Another survey by Twilio shows that 8 out of 10 customers do not necessarily mind interacting with bots as long as their queries and purchases are smoothly addressed.

The revolution of chatbots has begun. Will you venture into this lucrative customer service tool or will you let others overrun your business?

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