The use of chatbot technology is growing rapidly across industries. Organizations are trying to leverage chatbot application to improve customer experience. A study by Gartner stated that 85% of customer interactions will be handled by chatbots by 2020.
According to Grand View Research, the global market for chatbot AI programming is expected to reach $1.23 billion by 2025, a compounded annual growth rate of 24.3%.
When the market opportunity is this huge, then why should you not embrace it? Botree Technologies will help you make your debut in chatbot programming.
No doubt that chatbot programming has impacted every business process to become more effective and valuable. Facebook has declared that through its chatbot development platforms like Messenger platform, chatbot AI programming will be able to make decisions just like humans. Thus, it’s a possibility that human intervention will be reduced with chatbot development.
There are other things that are powering chatbots too. Chatbot using machine learning and artificial intelligence are being used with speech and language recognition so they can recognize multiple languages, every accent and give instant results.
Considering the current downhill trend of consumers downloading fewer apps while spending relatively less time interacting with them, it has become an important agenda for brands to make their place seamlessly into the lives of consumers. Virtual chatbots help to achieve the same.
On the downside, bots cannot decide everything. No level of chatbot AI programming can match human rationality to analyze market conditions and making the appropriate business decisions.
Yes, for the benefit of the user, chatbots allow an almost instant solution to their problems, but some issues can only be resolved with human intervention and more personalized interactions.
Chatbot framework is not perfect yet and the chatbot technology is not advanced enough to have human-like conversational exchanges or take a rationalized and analytical approach. Rationalization is still limited and for some urgent decisions, humans are always a better choice.
As much as we love chatbot technology, and it has shown us a huge list of benefits that it can provide, we still believe, there is still time before it starts to take over humans.
Chatbot technology still has a long way to go, but no doubt, the potential of chatbot programming is huge. With BoTreeTechnologies, you can find your virtual chatbot and hire from our team of chatbot developers today.
Someday Chatbots might replace humans but not yet. Virtual chatbots have innumerable uses in various industries where they streamline business process, improve profitability and decision-making.