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Such features offer an end-to-end solution processing call recordings from companies' existing contact centers. Besides, chatbots boost employee efficiency, accessibility and workplace satisfaction as they are easy to use, set up and deploy.Ĭhatbots support post-call analytics (PCA) features capable of boosting employees' productivity and streamlining their processes. When chatbots efficiently interact through voice or text with customers to answer their questions, help troubleshoot technical issues, and facilitate site navigation across various sectors, internal employees can focus on more complex, business value-generating tasks. Such facilities help consumers avoid the hassle of filling forms, cluttered inboxes, or spending minutes searching for and scrolling through content.Ĭhatbots are a time-saving resource for a company's internal employees. Bots help consumers find answers to their queries no matter where they are or what devices they use. AI-backed chatbots help today's modern consumers gather large volumes of information with ease. This enables humans to interact with digital devices as if they speak with real people. Powered by AI, chatbots are computer programs/technologies that simulate human-like conversations. In fact, it is AI that allows chatbots to understand user queries and respond in a logical, almost human-like way. However, it was not until 1990 that chatbots gained momentum with the rise of new-age technologies like AI. The concept of chatbots was first known in 1966 with the introduction of the first-ever chatbot named ELIZA. Conversational AI (chatbots) has thus emerged as an evolutionary technology in the market.
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The industry attributes such phenomenal growth to the rapid adoption of customer service activities by online enterprises and e-commerce businesses to reduce operating costs. PexelsĪccording to several analysts, the global chatbot market size, valued at $525.7 million in 2021, is expected to grow at a compound annual growth rate (CAGR) of 25.7 per cent from 2022 to 2030. Therefore, as various markets fully embrace AI, they get smarter in today's always-on world.
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As a technology, AI-driven chatbots are revolutionizing business processes in multiple industries, while also impacting several aspects of our life, and how we interact with people in the virtual world. Artificial intelligence (AI) does not exist in the world of science fiction.