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Chatbots reduce customer support queries by 70 %

March 1, 2018
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Customer Service is perhaps one of the most important parts of an organization and in many cases, it is the only touch point with the customer. Handling queries of so many customers and engaging with them on a constant basis can be a daunting task.

Fortunately, today Chatbots a subset of Virtual Customer assistants are there to help companies out and take over the work of their human counterparts. According to a report by Gartner, by 2020 customers would be managing almost 85 percent of their relationship with a business without any human interaction. The demand for self-help service tools is about to grow exponentially.

According to a report by Gartner nearly a quarter of customer service and support, operations are expected to integrate Virtual Customer Assistant (VCA) including chatbot technology across their engagement channels by 2020.

If you look closely, this will be a significant shift as in 2017 only 2% of such operations used such a technology.

There are a number of use cases for VCA’s such as informational kiosks, business phone systems and many more.

Chatbots are of great value as they help brands provide quick, accurate and straightforward responses to customers and free up the time of personnel to focus on more pressing issues.

Gene Alvarez, the managing president of Gartner was quoted saying, “”As more customers engage on digital channels, VCAs are being implemented for handling customer requests on websites, mobile apps, consumer messaging apps and social networks. This is underpinned by improvements in natural-language processing, machine learning and intent-matching capabilities.”

Alvarez also added that a great VCA is not just a source of information but also helps enrich the customer’s experience; assist them during the interaction with a firm.
According to a survey by Gartner, almost 84% of organizations are expected increase investments in customer experience technology in the near future.

Also, Gartner predicts that by next year 20% of brands will abandon their flagship apps and by 2020, a third of all B-2-B companies will make use artificial intelligence (AI) to boost at least one of their primary sales process. Lastly, more than 40% of all data analytics projects will relate to one or the other aspect of customer experience.

If you notice, in the last couple of years alone, the use of bots in customer support has risen. In India, leading banks such as Federal Bank and HDFC bank have partnered with AI startups to roll out their own chatbots.

KT Prasad, country sales director of Zendesk India (a company that offers helpdesk solutions), feels that although the chatbot technology is headed in the right direction, there is still a long way to go before we will see bots achieving the level of perfection that customers expect these days. He was quoted saying, “Companies need to make sure that the bots they integrate possess the scale, technology and intelligence to conduct their tasks smoothly.”

The present-day AI wave is giving programmers the power to create and deploy highly customized Chatbots. These Chatbots can play a crucial role in assisting humans to handle customer queries. There is enormous potential in this use case and we have only begun to scratch the surface.

 

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