Even if it sounds crazy, chatbots might even challenge apps and websites! An app requires space, it has to be downloaded. Websites take time to load and most of them are pretty slow. A bot works instantly. You type something, it replies. Another great thing about them is that they bypass user interface and completely change how customers interact with your business. People will navigate your content by using their natural language.
aLVin is built on the foundation of Nuance’s Nina, the intelligent multichannel virtual assistant that leverages natural language understanding (NLU) and cognitive computing capabilities. aLVin interacts with brokers to better understand “intent” and deliver the right information 24/7; the chatbot was built with extensive knowledge of LV=Broker’s products, which accelerated the process of being able to answer more questions and direct brokers to the right products early on
The most advanced bots are powered by artificial intelligence, helping it to understand complex requests, personalize responses, and improve interactions over time. This technology is still in its infancy, so most bots follow a set of rules programmed by a human via a bot-building platform. It's as simple as ordering a list of if-then statements and writing canned responses, often without needing to know a line of code.
2017 was the year that AI and chatbots took off in business, not just in developed nations, but across the whole world. Sage have reported that this global trend is boosting international collaboration between startups across all continents, such as the European Commission-backed Startup Europe Comes to Africa (SEC2A) which was held in November 2017.
A chatbot (sometimes referred to as a chatterbot) is programming that simulates the conversation or "chatter" of a human being through text or voice interactions. Chatbot virtual assistants are increasingly being used to handle simple, look-up tasks in both business-to-consumer (B2C) and business-to-business (B2B) environments. The addition of chatbot assistants not only reduces overhead costs by making better use of support staff time, it also allows companies to provide a level of customer service during hours when live agents aren't available.
“Major shifts on large platforms should be seen as an opportunities for distribution. That said, we need to be careful not to judge the very early prototypes too harshly as the platforms are far from complete. I believe Facebook’s recent launch is the beginning of a new application platform for micro application experiences. The fundamental idea is that customers will interact with just enough UI, whether conversational and/or widgets, to be delighted by a service/brand with immediate access to a rich profile and without the complexities of installing a native app, all fueled by mature advertising products. It’s potentially a massive opportunity.” — Aaron Batalion, Partner at Lightspeed Venture Partners
Chatbots succeed when a clear understanding of user intent drives development of both the chatbot logic and the end-user interaction. As part of your scoping process, define the intentions of potential users. What goals will they express in their input? For example, will users want to buy an airline ticket, figure out whether a medical procedure is covered by their insurance plan or determine whether they need to bring their computer in for repair?
Build a bot directly from one of the top messaging apps themselves. By building a bot in Telegram, you can easily run a bot in the application itself. The company recently open-sourced their chatbot code, making it easy for third-parties to integrate and create bots of their own. Their Telegram API, which they also built, can send customized notifications, news, reminders, or alerts. Integrate the API with other popular apps such as YouTube and Github for a unique customer experience.
Smart chatbots rely on artificial intelligence when they communicate with users. Instead of pre-prepared answers, the robot responds with adequate suggestions on the topic. In addition, all the words said by the customers are recorded for later processing. However, the Forrester report “The State of Chatbots” points out that artificial intelligence is not a magic and is not yet ready to produce marvelous experiences for users on its own. On the contrary, it requires a huge work:
in Internet sense, c.2000, short for robot. Its modern use has curious affinities with earlier uses, e.g. "parasitical worm or maggot" (1520s), of unknown origin; and Australian-New Zealand slang "worthless, troublesome person" (World War I-era). The method of minting new slang by clipping the heads off words does not seem to be old or widespread in English. Examples (za from pizza, zels from pretzels, rents from parents) are American English student or teen slang and seem to date back no further than late 1960s.
If you visit a Singapore government website in the near future, chances are you’ll be using a chatbot to access the services you need, as part of the country’s Smart Nation initiative. In Australia, Deakin University students now access campus services using its ‘Genie’ virtual assistant platform, made up of chatbots, artificial intelligence (AI), voice recognition and predictive analytics.
Chatbots are predicted to be progressively present in businesses and will automate tasks that do not require skill-based talents. Companies are getting smarter with touchpoints and customer service now comes in the form of instant messenger, as well as phone calls. IBM recently predicted that 85% of customer service enquiries will be handled by AI as early as 2020. The call centre workers may be particularly at risk from AI.
The chatbot is trained to translate the input data into a desired output value. When given this data, it analyzes and forms context to point to the relevant data to react to spoken or written prompts. Looking into deep learning within AI, the machine discovers new patterns in the data without any prior information or training, then extracts and stores the pattern.
For example, ecommerce companies will likely want a chatbot that can display products, handle shipping questions, but a healthcare chatbot would look very different. Also, while most chatbot software is continually upping the AI-ante, a company called Landbot is taking a different approach, stripping away the complexity to help create better customer conversations.
If AI struggles with fourth-grade science question answering, should AI be expected to hold an adult-level, open-ended chit-chat about politics, entertainment, and weather? It is thus encouraging to see that Microsoft’s Satya Nadella did not give up on Tay after its debacle, and Amazon’s Jeff Bezos is sponsoring an Alexa social chatbot competition. I love this below quote from Jeff:
As digital continues to rewrite the rules of engagement across industries and markets, a new competitive reality is emerging: “Being digital” soon won’t be enough. Organizations will use artificial intelligence and other technologies to help them make faster, more informed decisions, become far more efficient, and craft more personalized and relevant experiences for both customers and employees.
However, as irresistible as this story was to news outlets, Facebook’s engineers didn’t pull the plug on the experiment out of fear the bots were somehow secretly colluding to usurp their meatbag overlords and usher in a new age of machine dominance. They ended the experiment due to the fact that, once the bots had deviated far enough from acceptable English language parameters, the data gleaned by the conversational aspects of the test was of limited value.
In one particularly striking example of how this rather limited bot has made a major impact, U-Report sent a poll to users in Liberia about whether teachers were coercing students into sex in exchange for better grades. Approximately 86% of the 13,000 Liberian children U-Report polled responded that their teachers were engaged in this despicable practice, which resulted in a collaborative project between UNICEF and Liberia’s Minister of Education to put an end to it.
Human touch. Chatbots, providing an interface similar to human-to-human interaction, are more intuitive and so less difficult to use than a standard banking mobile application. They doesn't require any additional software installation and are more adaptive as able to be personalized during the exploitation by the means of machine learning. Chatbots are instant and so much faster that phone calls, shown to be considered as tedious in some studies. Then they satisfy both speed and personalization requirement while interacting with a bank.