Chat bots, also called virtual assistants, are among the newest tools to simplify human-computer connections. A chat bot is artificial intelligence software which assists in replicating a conversation with a user in natural language, via messaging applications, websites, mobile apps or telephone.
Why it matters
Technically, a chat bot represents the natural development of a question-answer system supporting Natural Language Processing. Framing answers to questions in human language is the most beneficial point of NLP in end-use applications. The application simplifies interactions between humans and different services, improving a customer's overall experience. From the company's point of view it offers opportunities to enhance customer engagement and reduce the total cost of customer service.
How it works
The working of a chat bot rests on two tasks. First, request analysis: the bot examines the user's request, identifies the intent and extracts the applicable entities. Second, returning the response: with the intent identified, the bot provides the most suitable answer.
General text
A fixed answer, the same for everyone who asks.
Conditional text
A text having different answers based on the request.
User-derived information
Precise information based on data the user provided.
Enterprise data
Data already stored in your systems.
The result of an action
The outcome of an act performed by the bot by networking with one or more backend application.
A clarifying question
A typifying question which helps the bot analyze the request properly.
A chat bot solution must be able to perform both tasks. It will not be a big support for a company without human intervention: people play a key role in configuring, training and optimizing the system.
Market growth
A report published on businessinsider.com projected the chat bot market growing from $2.6 billion in 2019 to $9.4 billion by 2024, at a compound annual growth rate of 29.7%. Chat bots are money savers for enterprises, and are successful in sectors like marketing, payments and processing, and service. Customers now demand round-the-clock assistance in areas from banking and finance to healthcare, so companies are rapidly opting to develop suitable solutions to answer queries at any time of day.
Why AtomicNorth
AtomicNorth is a full-service technology partner with proficiency in the tools and solutions needed to provide support systems on a round-the-clock platform. With multiple AI chat bot applications already in deployment, we handle the demand so you can propel your business further.