Chatbots are sophisticated machines that respond to customer queries as humans do. They can save time and cost by offering 24 hours a day customer service.
Utilizing artificial intelligence (AI), Natural Language Processing (NLP) as well as machine Language (ML) language, Chatbot apps immediately interpret user inquiries and respond within a matter of minutes. Furthermore, AI’s emotional intelligence AI bots detect sentiments behind the messages of users and then generate a corresponding response.
A survey online states that by 2021, more than 80 percent of companies are likely to implement chatbot applications. Therefore, there is an enormous demand for chatbots. This is especially in the healthcare, eCommerce insurance, financial, travel as well as telecom Industries.
Types of Chatbot Applications
It is essential to differentiate the various kinds of chatbots that are available on the market in order to select the best one for your needs. Below, we have provided three main kinds of chatbots that can be easily integrated with existing mobile applications or web-based apps.
1. AI-Based Chatbots
These are the most advanced form of chatbots that utilize Artificial Intelligence and Machine Learning for self-learning. The bots improve their response system frequently based on the conversations that have been conducted previously. They improve customer satisfaction and offer an experience that is similar to a conversation.
2. Rule-Based Chatbots
The chatbots that are based on rules use logic to offer assistance to users to clarify their questions. They detect specific keywords in user-generated questions and verify them against a variety of other questions as well as pre-defined answers for a correct response to the user.
3. Menu or Button-Based Chatbots
The basic structure of the chatbot is that it is widely utilized due to its simplicity. Bots provide various choices in the form of buttons or menus to users and react based on the selection of the user. However, they fail to satisfy users when the outlined options don’t match the search query.
Best Features of Quick Responding Artificial Intelligence Chatbot Apps
The features that are included in the software are dependent on the requirements of businesses. In this section, we have the most essential aspects that businesses are looking to integrate into their chatbots.
1. Simple & Easy Interface
Maintain a user interface that is easy to use or design for your app that will help your chatbots become more interactive and attractive to your clients.
2. Conversational Maturity Using NLP
Chatbots are able to understand user questions or conversations and provide precise answers using technology known as Natural Language Processing (NLP) technology.
3. Chatbot that has Emotional Quotient (EQ)
The emotion quote (EQ) can be an essential component of AI chatbots. It aids the bot in identifying the emotional states and tone of the customer’s query and responds as if humans. This feature, therefore, provides an experience that is personalized for customers.
4. Geo Location
Monitoring the locations of clients could enable chatbots to provide more relevant answers during the chat. For example, they can give the contact information for the sales executive at an office close to the user.
5. Free to Explore Solutions
Chatbots can delve into huge amounts of data to find solutions to customer concerns. They can analyze current solutions available from various sources to provide accurate responses.
6. Integration of payment systems
This feature can be used by chatbots that are e-commerce-related to make secure payment methods.
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Benefits of Chatbots Interacting Applications to Your Business
1. Better Customer Experience
The main benefit of chatbots is the fact that they are able to respond immediately and provide better customer service.
2. Sales Automation
Apart from answering customer queries, Bots also automate the entire selling process. Chatbots can be used by companies to build relations with their customers. Through the analysis of patterns in consumer buying and patterns of search, marketplace chatbots create leads for companies. This way, they assist businesses in engaging customers and generating more sales.
3. Insight Into Customer Behavior
Companies can gain valuable insight into customer behavior through chatbots. Based on questions from customers, companies can determine the products that are in high demand on the market. It assists in developing marketing strategies to market products and optimize the chatbot’s content to give the best possible answers.
Use Cases of AI Chatbots in Business
1. Booking Bots
You can make reservations or book an appointment in advance using AI-powered bots. When users make an appointment, it automatically creates an event and then sends reminders to the customer and the business representative. Bots can also be found in the recruitment, travel, and entertainment industry.
2. Customer Support Chatbots
The customer support feature is the most basic feature of chatbots and you will see these chatbots on all websites. Features such as live chat, availability, and fast responses make them great tools for customer support.
3. Chatbot Use Cases in Marketing
To create leads, gather email addresses from customers, and simplify the process of communicating, the process of delivering prices to customers, the majority of companies are using chatbots in their channels for marketing.
4. Entertainment Chatbots
These chatbots are intelligent and increase audience engagement by providing personalized recommendations for shows, events, and films.
Cost to Develop an AI Chatbot Application
If you’ve learned about the many benefits and use scenarios of chatbots. It’s time to determine the cost of creating a chatbot app for your business. The cost of developing your bot that has the least functionality is between $30,000 and $80,000.
This estimate of cost may differ depending on the platform of the app ( Android, iOS, Windows) and Application User Interface (AUI), features as well as the size of the development team and the location of mobile application developers you select.
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Chatbots are exciting and creative tools that can improve the user experience. They respond instantly to users and make them as if they were human.
Create Your Business Chatbot with the Top Chatbot Development Company
As the top mobile app development firm, iTechnolabs develops full-fledged chatbot applications that fit within your budget.