Chatbots were
quite popular even before 2020, but the immense growth in the chatbot industry
is at its peak reported after 2020. They’re now shifting from option to
necessity for business. The automated process is considered a more highly
connected, information-dense world. An American computer scientist Fei-Fei Li
has quoted that “As a technologist, I see how AI and the fourth industrial
revolution will impact every aspect of people’s lives.” Many brands globally
rely on AI chatbots for their 24/7 customer
support, increasing sales, sending related updates, and recommending products.
Let’s take an insight on stats that predict and show how AI Chatbot will
accelerate future growth
The chatbot will become the primary channel for marketing conversations
According
to CNBC 75-90% of queries are projected to be handled by bots by 2024.
The expected growth by 2025
While the global AI market was worth $4.8 billion in 2017, it’s going to
increase almost twenty times by 2025 as it reaches almost $90 billion.
Chatbots can cut operational costs by up to 30%.
By
2022, chatbots and NLP will save companies about $8 billion per year in
customer support costs.
Chatbot continue to manage the meaningful relationship
According
to Salesforce, 69% of consumers prefer to use chatbots for the speed at which
they can communicate with a brand.
Conclusion
In the
upcoming years, chatbots will become even smarter and more capable. Chatbots
will act more of like humans, they will predict human behavior and respond
accordingly. NLP helps in deep learning by understanding the context of
communication. The Voice Bot nurtures the service more efficiently. The
functionalities and adoption increment of chatbots raise the customer retention
rate, which encourages the positive impact of AI services everywhere.
Source: https://botgochatbot.wordpress.com/2022/01/07/the-future-of-chatbots-in-2022-and-beyond/
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