“Hey Siri, set an alarm for 7AM tomorrow”
Have you ever thought about the conversations you have with your virtual assistant? Whether it’s Siri, Alexa or Google assistant, these bots have become an integral part of our daily lives.
Today’s world is increasingly demanding and expects high-quality, personalized, fast service. This demanding nature of customers puts pressure on businesses to provide a superior customer experience, which sometimes becomes challenging with limited resources. We have all heard that businesses speak the language of the masses. The need for quick interaction and customer satisfaction is ever-present and growing.
Imagine having a virtual companion that is always ready to help you with anything you need from setting alarms, informing about weather, to finding a good Italian restaurant nearby.
Welcome to the world of bots
Bots can help businesses meet the customers growing demands by providing quick, round-the-clock support. They can handle more complex issues, leading to improved customer satisfaction and increased efficiency. A report by Grand View Research in 2020 estimated that the global chatbot market size was valued at $1.34 billion in 2019 and is expected to reach $4.94 billion by 2027.
So, what is a bot exactly?
Imagine texting a number to order a pizza and it gets delivered to you without speaking to a real person.
That’s what bots are all about.
A bot is a software programme that performs automated tasks.
Bots are everywhere in technology. It can help us order food, shop for clothes, find restaurants and many more. They can also provide personalized responses to customers, improving customer experience.
They can collect and analyze customer data, provide valuable insights for businesses to meet the needs of their customers.
You can find bots on many messaging apps, including Facebook and Telegram. Even the work-centric services like Slack, Microsoft Teams have their own built-in-bots that help you set reminders, take notes and many more.
Bots are on the rise
Bots are transforming how businesses interact with their customers. They become very essential in today’s world as it changes how employees work, making their work processes more efficient, focusing on more complex tasks which adds higher values for business and its customers.
Following are the reasons why the demand for bot is soaring:
- 24×7 availability: Unlike employees, bots do not have availability issues. They can answer your queries 24 hours a day, 7 days a week without taking time-off.
- Quick responses: Bots can provide instant support to customers, answering/resolving their queries in real-time. This leads to happier and satisfied customers.
- Multiple requests at a time: Usually, an employee can manage between 3 to 4 customer queries at a time, however, bots can handle as many requests as you want, allowing employees to focus on other higher-value tasks.
- No mood-swings: Employees can sometimes be sick, which means they won’t be able to answer customer queries for quite a few days, resulting in more work for other staff or additional work for them when they are back to work. Employees can also be in a bad mood at times. On the other hand, bots are not subject to mood swings. They can answer customer queries and also can be patient with difficult and complex requests.
- Collects and analyzes data: Bots can collect large amounts of data, analyze it and can generate a report with to the point accuracy, making themselves much more efficient than humans.
- Automate processes: Bots can automate repetitive and tedious tasks, freeing up time for businesses to focus on other tasks, resulting in increased productivity.
- Increases customer engagement: Intelligent bots increase customer engagement and increased customer engagement drives revenue for a business.
It all comes down to demands
Bots have come a long way and will continue to mature. They will not just respond to queries. They’ll talk. They’ll think. They’ll draw insights from previous knowledge and will continue to provide even more innovative solutions.
Some organizations believe that people are tired of using applications and would rather use bots for ease of work. But apps aren’t going anywhere soon, as there are situations when bots don’t adequately solve every problem that an app does.
As technology continues to advance, the capabilities of bots will also continue to expand. This will lead to the creation of more sophisticated and human-like bots to be able to perform more complex tasks and interact seamlessly with humans.
Overall, bots will continue to play an important role in shaping our world and bots are a reminder that technology is not just about efficiency and automation, but also about improving our quality of life and relationships.