After several weeks of confinement, most business have become used to working remotely and efficiently. In our case,
Some of AI and machine learning’s biggest advancements in recent years have been in perception and cognition. Voice recognition still has a way to go but Apple, Amazon, and Google have made leaps and bounds on advancements in voice recognition with Siri, Alexa and Google Assistant, respectively.
Machine learning systems are now being used to decide trades done on Wall Street and to predict if users will click on particular ads, increasing efficiencies on both the business and consumer ends. In addition to being revenue generators, chatbots can also serve as research bots, or for lead generation and brand awareness to save businesses money.
But companies should take note that the more successful chatbots are the ones that are able to drive a good conversational experience that mimics human agents – they should be able to effectively address customer requests.
In 2019 Microsoft released a service that allowed different firms to develop their own chatbots. Giving firms the tools needed to alleviate administrative tasks via chatbots earned Microsoft a top spot in the healthcare market. Business Insider Intelligence estimates that up to 73% of healthcare admin tasks could be automated by AI, and the adoption of chatbots could save the healthcare, banking, and retail sectors $11 billion annually by 2023.
As more businesses and consumers use chatbots, the more demand will exist for better development of chatbots, thus making it easier for companies to implement them within their business.