AI powered chatbots are finding wide applicability, be it in B2B or B2C business or government sectors. Knowing the magnitude of which chatbots are improving the service delivery process, both as external and internal facing chatbots to serve customers and employees, chatbot applications have become an essential part of a business' communication strategy. Business Insider found that "80% of businesses will adopt chatbots by 2020." Here we discuss the impact chatbots have on various industries.
Government and Public Sector Chatbots
Government agencies have thousands of public inquiries on issues like tax filing, legislation, judicial questions and so on. The traditional resolution process involves a lot of repetitive tasks for public and government employees. It can take days or even weeks to get to all the requests. Chatbots bring agility, transparency, and efficiency to serve the public as well as the internal workforce.
Chatbots are capable of responding to many requests at once with accurate information. Many government agencies are implementing chatbots around the world to prompt painless and effective interactions. Here is a list of ways chatbots benefit governments:
- Enable citizens to make and track requests
- Provide citizens with hard to find information quickly
- Federal procedures
- Legal advisers
- Reduce cost of handling public requests
- Reduce wait times for requests
- Send push notifications to keep the public informed
- AI-powered chatbots can study behavior and proactively deliver content
Banking and Financial Service Chatbots
Chatbots save $174 billion across Insurance, Financial Services, Sales, and Customer Service"- BI Intelligence
Customer behavior trends are dominated by smartphones, internet, messaging platforms, and voice assistants. Banking and financial service businesses must alter their business strategies by adapting to these customer trends. Adding to this, the financial industry is constantly dealing with changing regulatory issues, policies, on-demand services, competitive financial tech companies, and so on.
It's approximated that financial companies use only 0.5 percent of data to extract intelligence information out of huge data chunks."
Failing to deliver the right information at the right time is effects sales and customer satisfaction. Intelligent chatbots are a great to deliver these updates and improve customer communication. Intelligent chatbots study user interactions and develop a behavioral map learn from each interaction and improve future experiences.
Intelligent chatbots can easily categorize and align sales and marketing data, providing analytics, customer personas, market trends so leaders can make real-time decisions. Chatbots boost workforce efficiency, reduce operational costs, and improve the service delivery process.
(Read in detail about how voice chatbots impact the Financial industry)
Staffing and Recruiting Chatbots
Finding the right talent is the key competitive edge to any business. Finding the right candidate in a limited time frame and budget is the biggest challenge recruiting/hiring teams face. Bad hires can be costly. AI-driven voice assistants help recruiters find the right candidate efficiently.
Enhance Candidate Experience
Chatbots evaluate a candidates’ profile (social and professional) and interactions to create the candidate persona. Based on this, chatbots generate tailored interactions with the candidate, offer 24/7 support to track application status or provide any company information and guides the candidate through the recruitment process.
Source Job Profiles
Based on the job description and profile, chatbots can conduct and search various job portals or internal resume databases. They study the various candidate profiles, get the relevant job profiles, and schedule interviews.
A business’s success lies in delighting customers. So, delight your customers by integrating AI-powered chatbots into your business strategy to deliver the best customer experiences. Industry giants like Pizza Hut, KFC, Dominos, Starbucks and McDonald’s have already adopted AI-driven bots.
Chatbots offer 24/7 customer service. The ability to have chatbot integration within social media messengers makes bots cost effective for even small businesses.
Based on the customer behavior, businesses can study trends and deliver in-demand information proactively through push notifications.
Here are a few popular services chatbots can offer your customers.
- Reserve tables and place orders ahead of time
- Track status of to-go or take-out orders
- Send personalized discounts/promotions
- Be available on social media platforms
(Read in detail about how chatbots are helping the restaurant industry.)
Home Appliance Automation
IoT development has had a big impact on the home appliance industry. With voice technology considered to be a top technology in the space. Voice chatbots evolve as a means to communicate with all home appliances connected to an IoT network. We are in a new age of technology where consumers can talk to every home appliance, like a TV, refrigerator, thermostat, washing machine, coffee maker, light bulbs, door locks, routers, house security mechanisms, and so on. We already see major players in home appliances adding IoT and Voice in their products.
Here is a list of interesting products on the market:
- Whirlpool customers can control their appliances through voice chatbot with Google Voice or Amazon Alexa.
- Philips LED smart bulbs are compatible to voice chatbots, Amazon Alexa, Apple Home Kit, and Google Assistant. Users can instruct the bulbs through voice assistants to dim or change colors.
- Belkin's Wemo automation appliances have smart plug-in switches, lights, security cameras, and so on. These can be paired with Amazon Echo or Google Home.
- GE has launched the GE Kitchen Hub, a complete smart kitchen that can be controlled by Voice and mobile apps.
- Nest launched Nest Learning Thermostat, a smart thermostat with self-learning capabilities that can be controlled by an Amazon Alexa or mobile app.