By Anshul Gupta, Founder of Razr Tech, who will participate to the the upcoming "Apero Marketers" to take place on September 19th. 

Ever since I got an Echo-dot, I no longer use my device to set alarms, reminders or play music. The flash news briefing can be a bit better though, but my user behavior has changed naturally yet passively. This is good as I now use my device at-least 10-15% less. My experience with Google assistant also has been awesome. The way it works is simply smooth, I especially like to type out commands and it's done. If I observe myself, I have been conversing passively via voice & messaging with a bot who simply loves to follow my instructions.

By 2022, as per the Juniper report, Smart-speakers like Alexa, Google home etc would be used by an estimated 55 percent  of households in U.S by the year 2022. By that time, over 70 million households will have at least one of these smart speakers in their home, and the total number of installed devices will top 175 million.

 

Lets try & understand first what a chatbot is

A chatbot be it on a messaging platform or on a voice platform is someone who is powered by rules & sometimes AI that you interact via a chat messaging interface.

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The reason they are so simple is because they work on existing platforms which consumers use & on company dot coms.

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Bots have been around since the internet spamming us on emails, trolling us etc but there is a difference between a bot & a chabot

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As a company into new age consumer tech, we see a lot of demand from clients wanting to define their voice & chatbot strategy, several trends are shaping a true potential for chatbots.

Apps are clearly losing traction:Well they are here to stay & converse with us via voice/chatbots, but the 4.7BN of us are fixed on the top 5 apps, we tend to delete other apps we spend less time with.

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Everybody loves to chat: Surprisingly, messaging apps are bigger than the social networks & much smarter then them right from sending money to emojis to booking a cab.

The NOW or never generation: For the millennial's, its insta, snap & done. No one wants to wait. UBER wasn't made for us, it was made for the millennials who will probably never own a car, their experience in less than 5 years would be straight in a driverless car.

The reason why this is possible, AI: With the FA-AM-G( Facebook, Amazon, Apple, Microsoft Google) companies rolling out advanced machine learning & natural language processing platforms for the common man to use, the capabilities of a chatbot to execute complex commands have increased greatly.

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Automation: We have such good brains, that we invented AI to replace ours. Mankind's own enemy, a chatbot can execute complex tasks across verticals thereby automating several business processes, improving efficiency & reducing rates of error. This helps a company to reduce substantial headcount in the long run & save substantial costs.

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Multi-tasking: One thing humans were never good at, a single chatbot can converse with millions of customers at the same time, executing their commands, thereby significantly engaging them & increasing the chances of conversion.

Competition: Oh, look he did it. The rat- race! Companies worldwide are facing immense competition to deploy new technologies to acquire consumers & maintain a competitive edge.

 

By 2020, a substantial 80% of all businesses would have employed chatbots in some way, customer service via human beings would drop down to only 15%, rest would be automated

 

Generally, Chatbots are of the following types:

1) Retrieval based(open/closed):

- Invoking a set of responses stored in the system based on user's request

- Works in closed domain

- Low cost, easy to develop, low code/no code

- Utilizes machine learning to make it smarter

 

2) Generative based:

- AI driven, generates a response as per user query

- Requires a lot of training & data, usually costly to develop

- High chances of grammatical errors in the beginning

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Any company should employ the following phase wise deployment model over the years while developing a BOT strategy:

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A word of caution...Before you deploy a bot, make sure to have clearly identified the mediums(fb/website/internal HR bot etc) & objectives.

Now imagine all of above, with the possibilities of how a VOICE bot can interact & execute your commands with that personal touch. In Japan, there is a government program to take people off their virtual girlfriends. Its absolutely clear the way we interact with our apps & devices is completely going to change with voice & chatbots.

Check out this interesting infographic by Adweek: http://www.adweek.com/digital/infographic-how-consumers-feel-about-voice-technology-and-how-much-theyll-use-it-in-the-near-future/

 

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Views are personal.

Pic & Reports Courtesy: Tech-crunch, Juniper, EY, Cognizant, Business of apps


Publié le 26 août 2019