A “chatbot” is a computer program designed to mimic human conversation using artificial intelligence (AI), natural language processing (NLP) and machine learning (ML). It responds to client queries by simulating human interaction through spoken or typed dialogue.
Detailed explanation
Chatbots, short for “chatterbots,” are typically embedded in websites and apps to help customers and leads with any roadblocks in the conversion process.
A chatbot interprets customer queries and attempts to solve them, enabling people to converse with a virtual entity as if they were speaking to another human. They can help customers submit requests and complaints and transfer them to human agents when necessary.
Basic chatbots provide automated responses to pre-set, categorized queries. In contrast, more advanced chatbots use AI, NLP and ML to evolve and provide personalized services and answers over time.
Companies continue to adopt and implement chatbot features because they are:
– Cost-effective: Chatbots require one-time investments with regular maintenance updates. Plus, they help reduce the costs of hiring for customer support. – Time-saving: Chatbots perform specific support tasks quicker than employees, freeing time for human capital. They also reduce the waiting time for customers and improve brand perception. – Available 24/7: Chatbots are available around the clock, allowing customers to share and solve their queries anytime without a waiting period.