In a new report from Business Insider Intelligence, we explore the growing and disruptive bot landscape by investigating what bots are, how businesses are leveraging them, and where they will have the biggest impact. We outline the burgeoning bot ecosystem by segment, look at companies that offer bot-enabling technology, distribution channels, and some of the key third-party bots already on offer.
With competitor Venmo already established, peer-to-peer payments is not in and of itself a compelling feature for Snapchat. However, adding wallet functionality and payment methods to the app does lay the groundwork for Snapchat to delve directly into commerce. The messaging app’s commerce strategy became more clear in April 2016 with its launch of shoppable stories with select partners in its Discover section. For the first time, while viewing video stories from Target and Lancome, users were able to “swipe up” to visit an e-commerce page embedded within the Snapchat app where they could purchase products from those partners.
Web site: From Russia With Love. PDF. 2007-12-09. Psychologist and Scientific American: Mind contributing editor Robert Epstein reports how he was initially fooled by a chatterbot posing as an attractive girl in a personal ad he answered on a dating website. In the ad, the girl portrayed herself as being in Southern California and then soon revealed, in poor English, that she was actually in Russia. He became suspicious after a couple of months of email exchanges, sent her an email test of gibberish, and she still replied in general terms. The dating website is not named. Scientific American: Mind, October–November 2007, page 16–17, "From Russia With Love: How I got fooled (and somewhat humiliated) by a computer". Also available online.
Chatbots are used in a variety of sectors and built for different purposes. There are retail bots designed to pick and order groceries, weather bots that give you weather forecast of the day or week, and simply friendly bots that just talk to people in need of a friend. The fintech sector also uses chatbots to make consumers’ inquiries and application for financial services easier. A small business lender in Montreal, Thinking Capital, uses a virtual assistant to provide customers with 24/7 assistance through the Facebook Messenger. A small business hoping to get a loan from the company need only answer key qualification questions asked by the bot in order to be deemed eligible to receive up to $300,000 in financing.
Other companies explore ways they can use chatbots internally, for example for Customer Support, Human Resources, or even in Internet-of-Things (IoT) projects. Overstock.com, for one, has reportedly launched a chatbot named Mila to automate certain simple yet time-consuming processes when requesting for a sick leave.[31] Other large companies such as Lloyds Banking Group, Royal Bank of Scotland, Renault and Citroën are now using automated online assistants instead of call centres with humans to provide a first point of contact. A SaaS chatbot business ecosystem has been steadily growing since the F8 Conference when Facebook's Mark Zuckerberg unveiled that Messenger would allow chatbots into the app.[32] In large companies, like in hospitals and aviation organizations, IT architects are designing reference architectures for Intelligent Chatbots that are used to unlock and share knowledge and experience in the organization more efficiently, and reduce the errors in answers from expert service desks significantly.[33] These Intelligent Chatbots make use of all kinds of artificial intelligence like image moderation and natural language understanding (NLU), natural language generation (NLG), machine learning and deep learning.
Conversational bots “live” online and give customers a familiar experience, similar to engaging an employee or a live agent, and they can offer that experience in higher volumes. Conversational bots offer scaling—or the capability to perform equally well under an expanding workload—in ways that human can’t, assisting businesses to reach customers in a way they couldn’t before. For one, businesses have created 24/7/365 online presence through conversational bots.
The term "ChatterBot" was originally coined by Michael Mauldin (creator of the first Verbot, Julia) in 1994 to describe these conversational programs. Today, most chatbots are either accessed via virtual assistants such as Google Assistant and Amazon Alexa, via messaging apps such as Facebook Messenger or WeChat, or via individual organizations' apps and websites.[2] [3] Chatbots can be classified into usage categories such as conversational commerce (e-commerce via chat), analytics, communication, customer support, design, developer tools, education, entertainment, finance, food, games, health, HR, marketing, news, personal, productivity, shopping, social, sports, travel and utilities.[4]
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Open domain chatbots tends to talk about general topics and give appropriate responses. In other words, the knowledge domain is receptive to a wider pool of knowledge. However, these bots are difficult to perfect because language is so versatile. Conversations on social media sites such as Twitter and Reddit are typically considered open domain — they can go in virtually any direction. Furthermore, the whole context around a query requires common sense to understand many new topics properly, which is even harder for computers to grasp.
On the other hand, early adoption can be somewhat of a curse. In 2011, many companies and individuals, myself included, invested a lot of time and money into Google+, dubbed to be bigger than Facebook at the time. They acquired over 10 million new users within the first two weeks of launch and things were looking positive. Many companies doubled-down on growing a community within the platform, hopeful of using it as a new and growing acquisition channel, but things didn't exactly pan out that way.
Beyond users, bots must also please the messaging apps themselves. Take Facebook Messenger. Executives have confirmed that advertisements within Discover — their hub for finding new bots to engage with — will be the main way Messenger monetizes its 1.3 billion monthly active users. If standing out among the 100,000 other bots on the platform wasn't difficult enough, we can assume Messenger will only feature bots that don't detract people from the platform.
Conversational bots “live” online and give customers a familiar experience, similar to engaging an employee or a live agent, and they can offer that experience in higher volumes. Conversational bots offer scaling—or the capability to perform equally well under an expanding workload—in ways that human can’t, assisting businesses to reach customers in a way they couldn’t before. For one, businesses have created 24/7/365 online presence through conversational bots.

At this year’s I/O, Google announced its own Facebook Messenger competitor called Allo. Apart from some neat features around privacy and self-expression, the really interesting part of Allo is @google, the app’s AI digital assistant. Google’s assistant is interesting because the company has about a decades-long head start in machine learning applied to search, so its likely that Allo’s chatbot will be very useful. In fact, you could see Allo becoming the primary interface for interacting with Google search over time. This interaction model would more closely resemble Larry Page’s long-term vision for search, which goes far beyond the clumsy search query + results page model of today:
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.
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