by Ray Hayes
Chatbots are Artificial Intelligence (AI) programs that coordinate conversations by way of text or audible design. The emergence of such technology has made it easier for large corporations to communicate with customers as well as offered small businesses an alternative to compete on a grand playing field.
As reported by Businesstimes.com, “the global chatbots market is projected to witness a compound annual growth rate of 32.78 per cent by 2023, reaching a total market size of US$895.27 million from US$163.34 million in 2017.”
Although things maybe looking up for more small businesses to jump aboard the chatbots wave, many owners still view the AI technology as too expensive and still incapable to deliver effective and suitable customer service. But that should not scare away small business owners because new tech firms like Progress NativeChat are developing technology to correct the errors of their predecessors.
“NativeChat can be trained, using a set of goals, examples and data from existing backend systems. This removes the need for developers to create and maintain complex decision trees for each bot conversation and allows customers to converse and transact in a natural way.”
Overall, small businesses should take a look at chatbots. The folks at Businesstimes.com said it best, “Instead of completely replacing the need to hire an expert by substituting it with AI, business owners need to think about how they can optimise 70 to 80 per cent of the workload for some of their front-line employees by using transactional chatbots.”