9 Excellent Benefits of AI-Based Chatbots to Business in 2020

So here is a list of Nine biggest benefits of using an AI-based Chatbot and how it can be used by you to improve your business.

25th Jan 2020
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Chatbots are something that has been in talks for the past couple of years and in recent times we see that it has been widely adopted. These AI-based Chatbots are introducing a new system for business companies to interact with the world. Although Chatbots are used more in recent times, their technology goes back to the 1950's.  


The most important point about these Chatbots is that they allow companies and mobile app developers to interact with the customer with the help of various messaging apps. There has been an accelerated evolution of all sorts of wearable-tech and sensors as more and more advanced technologies and Artificial Intelligence (AI) is being introduced.


Since there has been an increasing popularity of social media platforms and messaging apps, these Chatbots are now taking center-stage of business-related messaging. A report made by Business Insider states that by the year 2020, more than 80% of the mobile app development company will be implementing Chatbots in their system. 


How does an AI-based Chatbot work?

An AI-based chatbot is a software that mimics a real communication with customers or users through a chat interface. So, in other words, we can say that a chatbot is a system that will have a conversation with you, just like a real person.


These AI-based Chatbots work based on Machine-Learning and they collect conversational cadences that allow them to mimic real human conversations or even react to spoken or written requests by users to deliver any kind of service. They can understand language and not just simple commands since they make use of AI. Hence these Chatbots become all the more intelligent once the user starts having more conversation with it.


Benefits of AI-based Chatbots

An AI-Chatbot is like a virtual assistant who can engage with customers 24×7 and thus improve the customer's experience. AI-Chatbots are easy to scale and they can handle various customer requests with an instant answer. This is sure to boost the customer's satisfaction. 


There are countless benefits to using chatbots and it mostly depends on how businesses and app developers can use it to enhance the customer's experience.


So here is a list of Nine biggest benefits of using an AI-based Chatbot and how it can be used by you to improve your business:


1. For a better Lead Generation and its Nurturing: Many businesses run on an omnichannel model and so they sell across various websites, Facebook, etc. AI-based chatbots help them to communicate with customers effectively through various messaging mediums.


Chatbots can also boost your business revenue by better lead qualification and better lead nurturing. Many famous e-commerce companies like eBay, H&M, etc are now using AI-based Chatbots in their online marketing system.


2.Helps to Save the Cost of Customer Service: There can be costs in terms of salaries, training of agents and the infrastructure needed to train agents to deal with customers. These expenses cannot be neglected as these do not come cheap. Using AI-based Chatbots can help you to save the cost of customer service.


3. Increases Customer Engagement: AI-based Chatbots will help you to take customer engagement to a whole new different level. It can enhance customer satisfaction since customers get an immediate personalized response. Since the customers will be happy and satisfied, there will be more engagement on your business website. 


4. It Provides a 24*7 Support: Since AI-based Chatbots can provide support virtually anytime, you can easily rely on it. Unlike support agents who might not be available, after their business hours, AI-based support will be available anytime you need it. AI-based Chatbots can easily manage all types of customer queries with their automated responses. 


5. It Provides an Instant Answer: Customers don't like to wait for assistance and its very normal. The more they wait, the more agitated and frustrated they get. So AI-based Chatbots have an advantage here since they give an instant answer, the moment a customer puts up his question or query. 


6. It is Very Useful for Placing Orders & Bookings: A survey shows that more than 47% of consumers tend to buy items from Chatbots. Hence many of the businesses and mobile application development company can use Chatbots that will generate automatic bookings from their web page or Facebook page. 


7. Save Time with Bots: Time is equivalent to money in business. So using AI-based Chatbots will help you to save time that would otherwise have been spent on hiring and training people for customer service. Indirectly you also save money and generate customer-satisfaction.


8. Scalability: Unlike real agents who can handle only a few conversations at a time, these chatbots can handle thousands of different conversations simultaneously.


9. Cut Down on Human Errors: AI-based Chatbots are error-free. If humans are involved in a task, there can be an error. But with chatbots, there are no chances of error in any case since it is based on AI. If you want an error-free customer service for your business, you can use Chatbots. 

Conclusion

There are plenty of benefits that a mobile application development company will get by implementing AI-based Chatbots in its customer service, sales or marketing. Chatbots can increase your customer's total experience with its hybrid support approach. The more satisfaction a customer gets, the more engagement is generated on your website and the more your business grows. 

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