25% of customer service and support operations will integrate virtual customer assistant (VCA) or chatbot technology across engagement channels by 2020, according to Gartner.
In the post-app era, chatbots are taking over the traditional mobile apps with their ability to mimic conversations and offer instant, digital connections. In fact, Gartner predicts that by 2021, more than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development.
Chatbots have revolutionized the way customers interact with businesses. According to HubSpot, “47% of consumers are open to buying items through a chatbot”. Thus, majority of organisations have joined the race of augmenting or building these virtual agents on their websites.
Chatbots are renewing the way businesses interact with customers. By offering instant, on-demand assistance, chatbots are fostering engagement between brands and their customers.
Hundreds of technologies debut every year to transform the conventional way doing things. While some of them run down, there are some that hold the potential to cause disruption and become a trend.
The term precision medicine may be relatively new for many, but the approach has been a significant part of the healthcare industry. Basically, the concept is to understand specific requirements and characteristics of an individual, before treating them with the custom medication.
Conversational platforms have introduced a paradigm shift in how humans interact with the digital world. For businesses, they are fostering a personal connection between users and the brand that’s ultimately adding value to the customer service.
In the massive influx of technologies, Artificial Intelligence (AI) has proven its potential with some disruptive solutions. With rapid unfolding of positive possibilities that AI can bring in, it has been revolutionizing the way businesses team up with technology, irrespective of the domain.
“By 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human. By 2021, more than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development." -Gartner
The digital landscape has changed remarkably over the past decade. Almost every business, irrespective of the industry is realizing the digitization benefits and embracing it as well. With this, digital data is generated, faster than ever. In fact, some of the industries are at a point where manual data analysis is a next to impossible job. This has driven the rise of Machine Learning (ML), which is the ability of machines to analyze big data and extract information, just like humans do.