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hatbots in 2020 will be an interesting trend to look out for. This is primarily because research and development in the field of artificial intelligence and machine learning is changing the way we use Internet. A recent article claims that 80% of the companies will use chatbots by the year 2020. Essentially, business enterprises are gradually waking up to the fact that bots can contribute to process efficiencies.  

Chatbot Essentials 

Chatbots are interactive software tools designed to simulate human conversations. Often, bots reside in various apps like live chats, SMS, or emails. So, you can program the chatbots to follow pre-scripted conversation flows based on simple logic. Artificial intelligence serves as a booster for chatbots since it facilitates the use of advanced algorithms. Hence, futuristic chatbot design will use machine learning capabilities to improve these algorithms and expand the bot potentials.  

Emerging chatbot trends will have significant impacts on the way firms engage with their customers. So, bots are going to handle a whole lot more than just responding to routine user queries. Let us share the outlook for the potential uses of bots in the year 2020. 

Predictive Analytics 

Yes, bots powered with artificial intelligence can work wonders for your business. Bots can play a crucial role in collecting customer-related data. Consequently, bots process the data and apply predictive analytics to provide help in forecasting certain behavior trends. Predictive analytics applies data or algorithms on existing or historical data to forecast the possibility of what customers need or how they may behave in future. Hence, the technique helps in predicting things like –  

  • what customers will need in future,  
  • when is the next maintenance scheduled for the equipment,  
  • when do we need to re-order the inventory items,  
  • what new features is required in future 
  • what will be the price of the specified items in future 

Machine learning and artificial intelligence will empower bots to provide an accurate estimate on market potentials and key statistical figures. So, marketing departments will benefit immensely from the deployment of intelligent bots. Essentially, customer service teams will also find it efficient since bots will be able to provide customers with tailored solutions.  

Business Process Automation 

A growing number of firms are opting for technology-based automation in areas of sales, marketing, and customer service. Most of the banks will use chatbots to automate their customer interaction processes. Hence, bots can serve routine customer queries such as supply account balance, transaction related information, or provide details of tailored investment options based on selected parameters.  

Thus, chatbots automate various other work processes across diverse industry sectors. Insurance companies deploy bots to deliver vital information to prospective customers, calculating premiums, or uploading documents. Similarly, foodservice businesses today apply location-based technology to provide nearby restaurant menu to the app users and subsequently process customer orders.  

Virtual Assistants 

Soon, bots will help you browse through the shopping list based on your selected filters. They can also give you a detailed demo for selected products. Thus, future bots will serve as efficient virtual assistants programmed to walk users through product features, recognize commands, deliver customized responses, or order items on behalf of the customer. So, these chatbots will be available 24/7 and deliver personalized services with the help of artificial intelligence.  

Voice Messaging Bots  

Bots in 2020 will use voice recognition technology to accept and process voice commands from users. Bot enabled devices like Alexa will interact with and engage users in different ways in future. The popularity of these bots is because they break the monotony and provide accurate insights without putting in too much efforts. Additionally, voice bots provide an effective means of automating certain tasks and reducing the need for human intervention. 

Bots on Social Media  

Firms will deploy bots on their social media platforms to collect and process vital customer-related data. Essentially, these bots will be able to track user interests and their online habits. As we all know, there is a huge amount of unstructured user-related data available on the social media platforms. Bots powered with artificial intelligence process the data to provide helpful and actionable insights for firms.  

 

To sum it up, chatbots in 2020 mark the beginning of new trends in the fields of digital marketing, customer service, and sales. Firms will rely on this innovative technology tool to explore new business opportunities and automate tasks for increased efficiency. In short, it will become a preferred means of customer interaction for businesses. 

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