By Aravinth Ramesh
In recent years, the advent of AI chatbots has transformed various aspects of our lives, improving productivity and enhancing user experiences. Once considered fiction, these intelligent chatbots are now a reality, capable of performing complex tasks and providing personalised assistance.
They possess the remarkable capability to automate up to 45% of tasks, liberating human resources from mundane labour and enabling them to redirect their efforts toward activities of elevated value. According to IBM, these bots are projected to yield annual savings of over $8 billion for corporations by the year 2023. This advancement represents a paradigm shift and holds tremendous potential for transforming the business landscape.
Let’s have a look at the top five chatbot use cases in real-life that are proving to be highly effective in different domains.
Seamless customer experiences: AI chatbots and human agents collaborate for efficient support
Powered by NLP, AI chatbots understand and manage large volumes of customer queries and provide quick and accurate responses. They have improved over the years and now go beyond answering FAQs. These bots can troubleshoot issues, guide users through processes, and even execute complex tasks.
In case they are unable to handle a query, they quickly escalate it to a human agent along with compiling and presenting all relevant information exchanged during the conversation, such as the nature of the problem and steps taken to resolve it. These insights give the human agent a clear picture of the existing customer pain point, thus enabling them to resolve it faster and ensure maximised customer satisfaction.
Social companionship: Redefining connection in the digital age
AI chatbots designed to provide virtual companionship have gained significant popularity in recent times. These companions engage in personalised and empathetic conversations, providing comfort and companionship to those who may feel lonely or isolated. Several societal factors, such as modern life’s isolation, an ageing population, and mental health issues, contribute to the need for these AI companions.
By offering readily available interaction and engagement, AI companions alleviate feelings of loneliness and provide cognitive stimulation, particularly beneficial for older adults. Moreover, they can be tailored to individuals’ needs and preferences, providing a personalised companionship experience.
From queries to transactions: How AI chatbots are streamlining e-commerce operations
AI chatbots offer numerous benefits that enhance the customer experience and streamline operations. They can answer questions, offer product recommendations, and facilitate transactions just like humans do.
These AI-powered assistants operate 24/7, handling multiple customer interactions simultaneously, making them a cost-effective alternative to traditional customer service models. They also gather valuable customer data, tracking preferences and behaviours. This data can then be leveraged to provide personalised product recommendations and offers, enhancing the overall shopping experience and fostering customer loyalty.
Unleashing the power of AI: Personalised assistance at your fingertips
AI chatbots act as personal assistants, thereby resulting in better management of daily tasks. These assistants comprehend user requests, execute tasks, and continuously improve their performance based on user interactions. For instance, they can manage calendars, send emails, perform internet searches, and even control smart home devices.
By learning from user interactions, chatbots tailor their responses and actions to fit the user’s preferences and habits, creating an intuitive and satisfying user experience. With their capacity to automate and streamline a wide range of tasks, they make our lives more manageable and convenient.
Streamlining the research and writing journey with AI chatbot companions
AI chatbots also serve as an intern adept at researching and writing. For instance, they excel at advanced internet searches, extracting key information from documents, and summarising articles or reports. They can also monitor trends and developments in specific fields, ensuring users stay up-to-date with the latest research.
In addition to research, AI chatbots assist in idea generation, suggest improvements in style and grammar, and even create drafts for various types of content. They can check for plagiarism, guaranteeing the originality of the work. By automating these tasks, AI chatbots allow researchers and writers to focus on the creative and analytical aspects of their work, thus boosting productivity and output quality at every point possible.
The business landscape has undergone a complete transformation on the back of technological advancements, and AI chatbots are playing a pivotal role in this endeavour. As businesses continue to increase AI adoption, it will push the chatbot industry to grow further. In fact, with these advancements in place, the global chatbot market size is projected to grow at a CAGR of about 30% from 2023 to 2028, as highlighted by Mordor Intelligence. Given this impressive growth, it won’t be an overstatement to express that AI’s continuous evolution over the years will impact almost everything we do in our daily lives.
The author is co-founder and CTO at HaiVe.Tech