Business Application of ChatBots

Chatbot is one of the new application of artificial intelligence which would result in deep change in how customer service and sales are being conducted. Business Insider calculated that chatbots can replace 29% of customer service and 36% of sales representatives in the United States alone. This would result in $23 billion and $15 billion in savings of salaries respectively.

The appeal of chatbot is its ability to respond to standard customer queries on products and services instantaneously without having the long response time needed for emails. Customer service tends to work during office hours but chatbots can work around the clock and also collect data from each customer interaction.

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