What’s Trending in the 2022 Chatbot World
“Hi! If you have any queries, we’re here to help.”
Sounds familiar, right? If you have noticed this on several websites, you’re not alone. Today, more and more organizations are adopting this virtual assistant technology to answer clients’ queries and handle simple tasks. Nowadays, it is considered the most effective form of communication in the business world.
As businesses grow, they demand a proficient solution that can handle the heaping amount of communication done between them and their customer base. And chatbots are the perfect fit. Gone are those days when companies had to add more live representatives to handle incoming questions and tackle the high business costs. But what is a chatbot? What’s trending in this chatbot development world that businesses should be aware of?
This blog post has covered the answer to all your questions. Read on to learn more.
What is a Chatbot?
A chatbot is a computer program or software that uses conversational artificial intelligence (AI) technology to simulate human conversation through text or voice interactions.
Chatbots are the fastest-growing brand communication channel.
- As per the report of Fortune Business Insights, the chatbot market will touch the milestone of $77 million in 2022.
- The stats also show that 58 percent of websites that use chatbots are for B2B companies.
- Tech giants such as Starbucks, LinkedIn, British Airways, & eBay also use chatbots to provide better user support.
These stats are proof of how the chatbot industry is growing.
Top Chatbot Trends You Must Have a Look in 2022
The way chatbots have become much more willing to match human behavior and offer additional services, we can say the future is now. This chatbot technology is pushing companies towards the next scale, and you can also do so if you stay updated with the upcoming business chatbot trends.
1. Chatbots are Becoming More Common
There is no second thought over the fact that the use of chatbots is quite common in different sectors. This AI-based communications channel has streamlined many companies' processing, ranging from marketing to sales, customer care to HR. Surprisingly, chatbots are also being used to streamline individual and everyday activities, including exercises, e-learning, parenting, etc.
2. Chatbots will be More Human
The study says the worldwide market size of chatbots will be more than $1.3 billion by 2024. So, one can easily conclude that we will soon experience huge chatbot usage for business communications. But at the same time, it can’t be denied that a few challenges also contribute to hindering the usefulness of chatbots, such as-
- Chatbots are unable to execute technical commands that users input.
- Chatbots cannot process a customer’s intent leading to misinterpreted responses and requests.
- Chatbots lack conversational intelligence.
- Chatbots cannot understand different accents or cultural meanings resulting in an accurate response.
Today, companies worldwide focus on improvising the consumer experience, and hence, they use more conversation AI technology that can
- Provide personalized experience to each customer and build a positive relationship.
- Enhance customer loyalty
- Satisfy consumers with improved perceptions
Companies nowadays create chatbots using machine learning (ML), artificial intelligence (AI), and natural language processing (NLP), making chatbots more conversational and more human.
3. Voice Bots are Becoming Mainstream
Today, voice-based and text-based CUI (Conversational User Interfaces) have become the most preferred way to enjoy access to the desired services across several industries. If we talk about voice bots, it is one of the popular trends in the chatbot world that’s gaining many eye’s attention. Above all, this technology is predicted to be the future of chatbots. But why? Check out the reasons below-
- Texting can be time-consuming, but voice bots are automated.
- Voice bots offer several customization opportunities that eliminate the problems faced while addressing customer needs.
- Texting can be sometimes tedious, whereas voice bots are automated and boost intelligence-based interaction with customers.
- When a business wants conversational automation and connects with a humanized level, voice bots are indeed the best choice.
- Voice-enabled bots can provide customers with reliable data insights and correct information in real-time.
4. Use of AI in Customer Support Service
Chatbots, virtual assistants, texting, and other technologies drive the growth of call centers worldwide and enhance the customer support experience. According to Chatbots Magazine, businesses can reduce customer service costs by 30 percent by implementing chatbot solutions.
5. Chatbots will Automate Payments
According to a study by Chatbots Magazine, 67 percent of U.S. millennials said they buy products from brands having a chatbot. Today, chatbots have changed the way eCommerce businesses' work, handle lead generation projects, and automate transactions. But what’s next? What about the future of the chatbot?
What if we say companies will automate simple payments and allow customers to pay directly through Facebook Messenger or live chat? Sounds interesting? Isn’t it? Such a fast payment via live chat will satisfy the customers and boost the company’s sales. This is one of the chatbot trends that will surely give an edge to businesses' performance in the future.
6. Chatbots will be Included in More apps.
A study shows that 40 percent of small businesses with one to ten employees use chatbots. Imagine the number when chatbots will be included in more and more apps. Chatbots are nowadays considered a crucial asset to the company. It collects and analyzes the data to take the right action. Although we are experiencing a huge rise in the use of chatbots, it is expected to observe an increase in the number of brands building chatbot-integrated apps in the future.
7. More Use-cases for Customer Demands
Chatbots are not just popular among companies and business verticals. Consumers can now access it for significant uses. Did you know 1 in 5 customers will consider buying goods and services from chatbots, whether it is clothing, food, electronics, or anything? Besides this, several advancements in chatbot development attract businesses and organizations worldwide. They experiment with this digital communication mode and create their own innovative chatbot use-cases, making room for automation in their app or website.
Chatbots will Continue to be Revolutionary.
The term chatbot has created a buzz in the business and tech sectors. The way it serves the industries and several business verticals with endless benefits, such as quality improvement, cost reduction, data collection, etc., no doubt we will experience more innovations in technology in the coming years. Several studies show the potential bounds of this technology will extend beyond these markets.
Besides being available to consumers 24/7 and answering their queries faster than a human representative, today, consumers expect more from chatbots. Chatbots will need to provide tailored customer support, analyzing their several needs. It is imperative as consumers to show their interest in the technology. We will be going to see chatbots having different characteristics that will match several markets. So, there are many more trends to be revealed in the future, and we’re excited to know what they are.
With the growing trend of chatbot-integrated apps or websites, businesses look for professionals who can create a space for the chatbot on the platform they use to run their venture. And if you're also one of them, it’s time to end your search with 75way- a leading Chatbot Development Service Provider in the USA. We can integrate the chatbot to your desired platforms, be it an app or website. We can do it. So, what are you waiting for? Connect with us today!