June 24, 2022

The Next Big Thing in ChatBot Automation

With more and more businesses adopting AI-powered chatbots, the ways of interaction are revamping rapidly. Here is the update on the next big things in terms of chatbot automation.

With more and more businesses adopting AI-powered chatbots, the ways of interaction are revamping rapidly. Here is the update on the next big thing in the world of chatbot automation. But first, let’s learn what an AI chatbot is.

What is an AI Chatbot?


An AI based chatbot is developed using Natural Language Processing (NLP) and Machine Learning (ML). An AI chatbot is an automated program that taps into AI capabilities in order to interact with humans via text input, audio input, or both. In simple words, it is an application that can think like humans and carry out conversations. It is independent of human intervention.

When it is said that “AI chatbots can think like humans”, it basically means that AI chatbots can work on the basis of the knowledge database available to them at that point in time. If any conversation introduces a concept that they are not programmed to understand, they will either avoid that conversation or potentially pass it to a human operator. The infusion of AI plays a vital role over here promoting chatbot automation; it enables the chatbots to learn from such conversations and prepare for the future. 

Example of AI based chatbots

Some of the best examples of AI-based chatbots include the virtual assistants which we use in our daily lives – Microsoft’s Cortana, Apple’s Siri, and Google Assistant. They can answer our general queries, provide customized options based on our previous searches, purchasing history, etc.

‍Chatbots Automation - The Doorway to Modern Connections

According to Gartner, “Artificial Intelligence (AI) will be a mainstream customer experience investment in the next couple of years”. Almost 47% of organizations will adopt chatbot automation for customer care and virtual assistants. These conversational bots are effective and functional having virtual AI systems with the ability to drive interaction through voice and texts.

Chatbots are also becoming more proficient in helping humans make modern day connections. They are also evolving as one of the most powerful tools for conversational service automation and  performing the function of virtual agents. The AI-powered technology aids these chatbots to decipher, extract the intent, and resolve a vast number of customer queries in a short span of time.  Artificial intelligence based chatbots are flexible, enabling automation in business communications.

The Outlook of Chatbot Automation Trend 2022 and Beyond!

As chatbots become more intuitive, these are some of the major chatbot automation trends of 2022 and the future are-

  • The market size of Conversational AI is expected to reach USD$1.3 billion by 2025, growing at a CAGR of 24%.
  • The projected value of chatbot eCommerce transactions by 2023 is $112 billion. 
  • More than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development. 
  • 75-90% of queries are projected to be handled by bots by 2024. 
  • The top industries profiting from chatbots are real estate, travel, education, healthcare, and finance. 
  • Chatbots can save up to 50% in customer support costs. 

The Major Benefits of Chatbot Automation

‍‍Chatbots are undoubtedly the most calibrated interaction framework supplementing the efforts of the human workforce. Through AI, bots comprehend customers’ inquiries and draft suitable responses with an underlying logic. 

Bots also communicate with third-party APIs to retrieve information and provide a comprehensive solution to the queries. With plenty of benefits, bots are becoming integral for a successful business campaign. Here are some of the key benefits of AI-powered chatbots.

Fast & Efficient Query Resolution

AI Chatbots can read, understand, and respond to customer queries within a few seconds, and that too with 100% accuracy. While building a chatbot for a business, it is crucial to feed all the important customer data, the functionality of the business, and necessary commands to the chatbot. This creates a base for the chatbot to understand what the customer query is and how it can be resolved. An AI Chatbot can churn all the data provided to it, comprehend customers’ buyer journeys, and help in problem-solving based on the best possible solution.

Better Feedback Collection

AI based chatbots can be deployed to ask for feedback at the end of their conversations with customers. After it resolves an issue, the bot can send a single survey question in the chat to ask how the support interaction went. The customer can leave a rating from 1 to 5 or include a written response. 

AI chatbots can then analyze text to locate words with commonly negative or positive connotations. To encourage feedback, chatbots can be programmed to offer incentives—like discount codes or special offers—in exchange for survey participation.

Companies can also search and analyze chatbot conversation logs to identify problems, frequently asked questions, and popular products and features.

Gain Insights into Customer Behavior

Another huge advantage of chatbots for businesses is the insights they can provide into customer behavior. You can derive valuable insights for your future business strategy from the questions, problems and popular products mentioned in the chat conversations. 

Businesses can thus optimize their content strategy based on the questions and problems of their customers. They can even analyze what exactly moves your customers and what problems they face. This enables them to create content that provides the right answers. Also, the chatbot can unlock new business opportunities for businesses.

Things to look for while implementing Chatbot Automation

Once you have decided to implement an AI chatbot, the next question is ‘how to choose the right one for your brand?’ There are certain factors you should consider before opting for an AI-driven chatbot. Here are some of them: 

* Multifunctionality Multifunctionality
* Omnichannel Support Omnichannel Support
* Scalability Scalability

Wrap Up 

AI-driven chatbots have already become an integral part of the technology stack in the workplace. Moreover, organizations that have already adopted chatbot automation have many benefits over those that have not yet moved to machine learning, automation, and artificial intelligence. AI-based chatbots can contribute a lot to improvise the customer service experience and brand recognition by offering an interactive tool to the customers who are already tired of the long queue in the customer support section. Another point to be noted is that these chatbots are never intended to replace human workers from their positions, instead, they aim to reduce their workload.

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