We have witnessed the world’s vast transformation linked with digital technology. Many new tools have been invented to improve human-computer interaction, especially in the business industry.
In the current time today, besides putting a focus on the quality of products and services, it is also crucial for a business to give the best experience for their customers. This is where chatbots are coming in. These features can be considered as an integral part of customer service automation. In finance, chatbots and virtual assistants are some of the industry’s newest devices designed to streamline human-computer interaction.
What is ChatBot?
A chatbot is an artificial intelligence (AI) program that can simulate a natural language conversation (or chat) with a user through messaging systems, blogs, mobile devices, or by telephone.
A chatbot is one of the most advanced forms of human-computer interaction. However, from a technological point of view, a chatbot only represents the natural evolution of a Q&A system leveraging Natural Language Processing (NLP). It helps to formulate answers to questions in natural language.
This computer-based AI program simulates human conversations. It is often referred to as robotic assistants that recognize human limits. Bots interpret and process user requests, and send appropriate responses promptly. Bots can be implemented through voice and text and on websites, applications, and messaging platforms like Whatsapp and Facebook Messenger.
It is predicted that by the end of 2020, 80% of companies would use a chatbot on their website. Automation technology will help reduce labour costs, and advancing artificial intelligence would only continue to enhance chatbots production. In this digital age, it is possible to foresee the imminent chatbot revolution.
Types of ChatBot (Facebook Messenger, Whatsapp)
1. Scripted/Quick Reply Chatbots
A scripted chatbot is the one where customer contact occurs through a series of predefined questions. This type of chatbot is either generated by a questionnaire collection, or a rule-based chatbot is built where each user behaviour pushes the bot to act or react.
2. NLP Chatbots
Chatbots are considered one of the most significant AI applications. They use AI technology to provide experience to the customer. NLP chatbots are capable of measuring user feedback, recognizing the purpose, and then creating the most appropriate response before delivering the message to the user.
3. Social Messaging Chatbots
Chatbots under this group incorporated into social media and messaging apps like Facebook Messenger, Slack, Telegram, WhatsApp, etc. They can be installed easily.
4. Serve/Action Chatbots
Those chatbots focus on one domain. Service chatbots are easy to navigate, quick to complete tasks, help to create personal customer relationships, and simplify the management of sales funnels. They have services such as browser history, flight status checks, and ticket bookings.
5. Contextual Chatbots
These chatbots use the strengths of Machine Learning and Artificial Intelligence to evaluate past interactions, refine responses appropriately and continuously enhance the conversational experience with customers.
Chatbot Scope of Work
Creating computers capable of understanding Natural Language has always been an incredibly difficult task and today Natural Language Understanding (NLU) is considered an AI-hard problem, meaning that the complexity of such computational problems is equal to solving the core artificial intelligence problem having machines as smart as humans.
Natural Language Processing (NLP) is a discipline that describes the interactions between computers and human languages within data science. Its main scope is to program computers to process and analyze large quantities of data in the natural language.
Natural Language Comprehension (NLU) deals with structuring raw data into a worm that machines can understand. Usually, NLU carries a set of recognition and named entity recognition tasks. In other words, NLU is a machine’s ability to fully understand what the user is saying.
Here some of the typical chatbox scope of work:
- Design full chatbot sequence and automated flows
- Welcome message
- Chatbot greetings pop-up
- Connect staff personnel with a chatbot (if the person requires to speak with staff)
- Get machine learning insights on users’ interests and preferences
- Monthly report on the performance of chatbot and the sentiment of your customers
- Analyze Frequently Asked Questions (FAQs) and add answers to automated chat replies