AI Chatbot Trends for 2020

by Klaus on August 19, 2019

in Articles

An application that has revolutionized the world with its amazing capability of answering like humans is Chatbot. Here in this blog, we are going to discuss several trends in the development of chatbots for the upcoming year. 

Before moving ahead, let’s look at various stats and facts related to chatbots:

  • 15 percent of customers have communicated with a business through a chatbot in the last 12 months. (Drift, 2018)  
  • 16 percent of US adults have a smart speaker such as Amazon Alexa. (Edison, 2018)
  • 15 percent of US customers believe nothing could stop them from using a chatbot. (Convince and convert, 2018)       
  • There are more than 30,000 Facebook chatbots. (Techcrunch)    

The development trends suggest that the chatbots will be ready to mimic human behavior and provide similar services.    

The present world has become completely corporate. More and more customers are getting inclined towards the use of chatbots. If we talk about traditional services, then humans have several limitations. They get tired and cannot work continuously. While with chatbots, it is quite easy to provide 24*7 error-free customer service. Another field in which chatbots are heading humans is in terms of intelligence.    

There are certain predictions regarding services that are based on consumers. It is expected to see an increment in the use of AI chatbots. The developmental trends of the year 2020 suggest that chatbots will be ready to match human behavior and provide related services. 

Soon, all the humans in the call centers will be replaced by chatbots as they will be intelligent enough to interact with customers and respond to their queries in a better way. 

Here, we have listed 9 trends for the development of chatbots in business:

1. Instant problem-solving solutions by chatbots

If you require clarification regarding your queries, you can get solutions to them with the help of various handy devices such as tablets, smartwatches, and smartphones. Other than this, smart TVs are also blooming as one of the greatest integrations with voice assistants like Google assistant and SIRI.  

2. Natural Language Programming for Interactive Chatbots

Use of Natural Language programming has increased the interactive nature of chatbots. Chatbots can be quite helpful in filtering the majority of customer problems and sending them to different consumers to solve their queries. 

3. Steady implementation of Chatbots

The human mind is always in search of something new. Now, Chatbots are supposed to be the next thing going to make noise in human society. Chatbots will connect customers directly to the businesses. 

As per IBM, 265 billion customer requests are recorded every year and businesses spend around $1.3 trillion to service all these requests. The use of chatbots can help in saving up to 30% of this cost which is a really big help to these IT giants like IBM.

A few months ago, Oracle surveyed more than 800 marketing professionals on the implementation of chatbots. As a result, it was found that around 80 percent of brands are thinking of using chatbots for their customer service efforts in the upcoming time.

Presently, around 36% of the surveyed marketers told that they are using chatbots to provide customer service. 

4. Chatbots in Business communication 

According to Mikael Yang, 80 percent of business communication is going to happen with the help of bot messengers within the next three to five years. 

In this Hi-tech world, the popularity of chatbots has increased. Small or large scale businesses are using chatbots to offer help to customers. In the year 2017, the popularity of chatbots noticed a boom. And the big news is that it is still growing with time. 

5. In-depth customer insights will come into existence

Chatbots have the special ability to store customer data in response to the request that can be easily retrieved to perform a proper analysis. 

As we have seen that chatbot adaptation is growing in 2019, it is reported that 80-85% of businesses will be deploying more customized result-driven chatbots by 2020. 

The amazing potential of artificial intelligence helps in automating the data collection and performs a complete analysis to get complete solutions for all the queries. The chatbot gives good answers to all the queries of the customers.

Chatbots requires an efficient analyzing marketing team that can pay attention to the area of improvement and then optimizes it in order to increase the success rate. 

6. Chatbots are becoming more AI-driven now

An AI-powered chatbot is able to offer a personalized experience to clients as well as customers. For example, Bank of America has a chatbot that is quite capable of handling any kind of customer query. 

With the help of predictive analytics, the bot can handle customer requirements and guide them through complicated banking procedures. It helps customers to make payments, check balances and save money. 

Insurance companies are also some of the early users of AI-based chat bot services. A recent Accenture study has noted that more than half of the customers are interested in relevant, real-time offers from insurers. 

7. The virtual assistant will replace Apps

App usage is going downwards these days. And it is putting adverse effects on the economy of the app market. Users have become smart and they uninstall apps that they do not use and keep the only app that they really use. 

Users are using chatbots to interact with the bank or to read the news. Moreover, chatbots have the special capability of automating business tasks and boosting customer experience. 

8. Enhanced customer analytics and insights going to enter soon

To have an in-depth customer insight, we require a system that has the capability of performing an accurate analysis of a large amount of data and that too without a single error.   

AI technology is now being used in order to offer precise consumer data, automatize data analysis and collection. 

9. Google Assistant and Amazon Alexa will become more popular 

As the popularity of virtual assistants like Google Assistant and Amazon Alexa, the speech chatbots have been quite helpful in enhancing the user experience. In the upcoming years, we will see a lot of improvement in speech recognition technologies. 

Conclusion

I hope that now you are quite clear about trends in the development of chatbots for 2020. If you are willing to create chatbots for your business, then you can look at several chatbot development companies that can help you turn your dream into reality. 

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{ 1 comment… read it below or add one }

roan September 3, 2019 at 02:01

Thank you for the Information…

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