• Consumers are demanding round-the-clock service for assistance in areas ranging from banking and finance, to health and wellness.
• Because of this demand, chat bots are increasing in popularity among businesses and consumers alike.
• Many are deployed on chat bot platforms such as Facebook Messenger, WhatsApp, WeChat, Slack , or text messages. Facebook’s expansion with Facebook Messenger has been giving businesses the opportunity to better reach their target audience through different APIs, and chat bots are becoming a necessity in certain industries.
• Despite the complexity of AI, machine learning (ML), and natural language processing (NLP), used to pick content and context from conversations with users, the need for structured base menu is major option to respond to customers
• By 2024, Insider Intelligence predicts that consumer retail spend via chat bots worldwide will reach $142 billion—up from just $2.8 billion in 2019.
• Nearly 40% of internet users worldwide prefer interacting with chat bots than virtual agents, and with major industries including retail and healthcare turning to digital technology, chat bots will likely increase in popularity moving forward.
• Insider Intelligence estimates that up to 73% of healthcare admin tasks could be automated by AI, and the adoption of chat bots could save the healthcare, banking, and retail sectors $11 billion annually by 2023.