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Chatbot Development and Applications is the future for Businesses

Published on 11 June 18
For businesses, it is very important to ensure customer loyalty along with the brand establishment. A man has looked to take help of machines to remove the constraints of human limitations like earlier times. This time it is the customer service industry which has been revolutionized, and the innovation responsible for this is chatbot app. Chatbot development is considered the future of customer service and management. 55% of consumers interact with a business using messaging apps to solve a problem and 48% of users prefer bots that can solve issues related to their businesses.

A Chatbot is a computer program or a feature of artificial Intelligence that conducts a conversation via auditory or textual methods. Since last 25 years, chat services have become better and efficient while allowing us to send not just text messages but sharing images, videos, locations, doc files, etc. Chatbot Development is going to help businesses to prosper as the potential customers are going to get much relevant information on their hands in a very short span of time.

Wondering why is Chatbot Development needed for your business?

Bots speed up the operations:
Chatbots do not suffer from limitations like we humans do. Human beings can handle up to a very few conversations at a time whereas chatbots are multitaskers. So engaging Chatbot solutions can help businesses grow manifolds.

Bots drive up institutional efficiency:
We often burn a lot of resources on backend support in our businesses. Chatbots have come to our rescue in this dilemma. Instead of employing human agents to perform these mundane and repetitive tasks, simply installing a chatbot would automate everything.

Bots help in dealing with millennials:
There are people who inquire and compare products before they buy since they are not impulsive buyers. They prefer live chats over phone calls. So if you want to target millennials, investing in chatbots would bring prudent results.

Bots act as personal assistance:
We all prefer taking help just by texting rather than going through a lot of applications to book tickets or scheduling an appointment and also in managing projects and tasks. In that case, chatbots are the best.

Applications of Chatbot in various Business Industries:

Chatbot for Healthcare Industry:
Chatbot integration with IoT solutions for healthcare industry drives better results for patients. Integration of chatbot with IoT improvises quality of care and attention rendered to the patients in healthcare centres. Chatbots have gradually been implemented into healthcare industry and it is estimated that the global chatbot market will reach $1.23 billion by 2025. Chatbots are helpful for scheduling appointments with a particular doctor in a hospital.

A user can also update his/her details like medical history, addresses etc which would later be notified in a chat via a bot. A patient can also be notified about upcoming health checkup camps and also get health tips via a chatbot application. Bots not only help in cutting down the cost but also reduces the waiting time, improves patient care and enhance customer loyalty and retention. Chatbots also provide medical advice, test results and prescription refills. We are an open source IoT platform for providing IoT solutions for healthcare industry leveraging custom healthcare solutions.

Chatbot for Banking and Finance Industry:
Chatbots have proved to be of a great help in banking and finance sector. They help to automate and interact with customers with the help of a user interface. Chatbot has the potential to automate all the repetitive questions which are time-consuming and has a huge impact on the department’s performance. Customers can inquire about their account balance and also ask for a transaction with the help of a simple interface.

Minimal setup, easy integration and accessibility through a chat are the key points of chatbots adoption. It is believed that the average time saved per chatbot enquiry as compared to a traditional enquiry is 4 minutes and the success rate of using a bot for banking and financial purpose stands as high as 93%.

Chatbot for Customer Support:
With the help of Chatbots, organisations can effectively manage customer enquiries thereby providing a smooth customer experience. Bots can answer customer enquiries quickly and consistently. Cognitive technology reduces the chances of misinterpretation and hence provides accurate results with minimal error rates.

Chatbots are perfect for dealing with frequently asked questions as they require less groundwork and hence reduces time. It is believed that Chatbots reduce customer service costs by 30% and 15% of the customers engaged with a business via a chatbot in last 12 months.

Chatbot for Online Food Ordering:
The advancement in mobile platforms and messaging apps and the improvement in chatbot intelligence, people have started breaking the ancient norms and are using online food ordering apps to enjoy their scrumptious food. Not just the customers, but also the restaurant owners are benefited hugely by the chatbot service.

Chatbots will display the menu, collect and show the delivery preferences with time and location and these details are remembered by the bots for future usage. And if you are a restaurant owner, a chatbot that handles customer interaction can prove to be an ace for your business. That can help you to keep multiple orders at a time and customer feedback to access performance.

Chatbot for Educational Sector/Institution:

Chatbots have been of a great use in the educational sector as well. By answering a wide variety of questions about academic, administrative and financial matters, and giving out important reminders and notifications directly through the chat window, chatbots create a friendly interface between a university’s website and its users. Bots are helpful in simplifying administrative formalities and provide technical support and troubleshooting assistance.

Benefits of using Chatbot App in your Business:

- Smart AI technology in Chatbot development ensures right expressions while conversing.
- Vast knowledge of Chatbot.
- Less response time.
- Data can be used more appropriately for the quality analysis.
- Save lots of time and money.
- Can initiate the action if programmed.
This blog is listed under Industry Specific Applications Community

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