What is Chatbot and why is Chatbot important?

In order to simulate a conversation (or chat) with a user in natural language via messaging services, websites, mobile apps, or the phone, a chatbot system leverages conversational artificial intelligence (AI) technology. In reaction to in-the-moment user interactions, it performs live chat services using rule-based language applications. One of the most cutting-edge and promising forms of human-machine interaction is the chatbot, according to many. These digital assistants improve customer experience by streamlining interactions between people and services. At the same time, they give businesses fresh chances to optimize client contact for effectiveness, which can lower conventional support expenses.

With minimal human participation, a chatbot can improve and engage consumer interactions. It eliminates obstacles to client service that may arise when demand exceeds available resources. Customers may receive real-time responses to their queries rather than sitting on hold. Customers' experiences with brands can be enhanced through less service friction. The use of chatbots to answer simple queries may enhance customer happiness, expedite the customer journey, and offer customer-centric assistance for businesses trying to improve their client experiences.

Chatbots have been extensively embraced in sectors including banking, healthcare, and insurance in addition to becoming fixtures in the online retail industry to expedite customer service. In addition to using chatbots for customer service, sales teams also utilize them to guide customers through the sales process and marketing teams to provide quality leads. A sort of digital assistant called a chatbot is intended to increase corporate productivity by automating repetitive customer service duties. Businesses might save up to 30% on customer service expenses thanks to them. By turning transactions from abandoned carts into sales, they may also make money. According to Juniper Networks, they automate customer service and simplify it, saving consumers and companies over 2.5 billion customer service hours by 2023.