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Today, chatbots are everywhere. They’re your personal shopper they send notifications about your pizza order. Chatbots can update your bank account balance or serve as your hotel concierge — and this digital-transformation trend appears to be on the rise.
According to CITI Research Facebook Messenger chatbots are developing 70 percent faster than iOS apps were at this same stage in their life cycle. Up to 80% of survey respondents said they planned to use some sort of chatbot by 2020 — and for good reason. And according to Juniper research, businesses using chatbots could save $8 billion per year by 2022 in banking and healthcare alone.
But chatbots have not only captured the attention of brands and their eager consumers — improvements in natural language processing and artificial intelligence (AI) have also created a fertile ground for chatbot technology in all business sectors, including B2B.
With the rise in chatbot adoption, the question for many business leaders is: How do I know if — and when — I should capitalize on this digital trend?
Chatbots Across the Organization
Early chatbot adopters zeroed in on customer service as a prime money-saving feature. In fact, according to a new Forbes Insights survey of 700 c-suite executives, 86% of companies that are adopting AI to improve customer experience are using chatbots for customer service.
Yet despite this early focus, chatbot capabilities have broadened beyond customer support and expanded within — and across — organizations.
Today, chatbots make it possible to give every employee a personal assistant to help with tasks such as booking business travel, scheduling meetings, and managing to-do lists. Enterprise-grade bots can automate time-consuming tasks such as ordering supplies, paying vendors, and invoicing clients by using a messaging platform to manage these activities.
To Bot or Not?
The question of whether and when to implement a bot will likely come down to its potential to streamline customer service, business processes, and data management. Below are just a few further qualifying questions top executives have begun to ask themselves.
Chatbots of the Future
There’s a lot to consider when it comes to implementing chatbots as a business tool. In addition to questions of quality and cost, leaders must fully understand organizational and customer needs before they land at chatbot technology as a solution.
However, there is also plenty for decision makers to look forward to. Although chatbots have not yet peaked in their sophistication, they are proving to be valuable across organizations. Their potential to develop and streamline company processes — like the language-learning process that powers them — is limitless. Much like the Internet 20 years ago, we’re on the brink of a tech disruption that may soon feel like a part of our daily lives.
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