Chatbot, when it plays its role as a virtual representative of an enterprise, is widely used by businesses outside of the US, primarily in the UK, The Netherlands, Germany and Australia. Additionally, the usage of this term is quite popular amongst amateur AI enthusiasts willing to spend vast amounts of time on their own intelligent creations (with diverse outcomes).
Nowadays a high majority of high-tech banking organizations are looking for integration of automated AI-based solutions such as chatbots in their customer service in order to provide faster and cheaper assistance to their clients becoming increasingly technodexterous. In particularly, chatbots can efficiently conduct a dialogue, usually substituting other communication tools such as email, phone, or SMS. In banking area their major application is related to quick customer service answering common requests, and transactional support.
The main challenge is in teaching a chatbot to understand the language of your customers. In every business, customers express themselves differently and each group of a target audience speaks its own way. The language is influenced by advertising campaigns on the market, the political situation in the country, releases of new services and products from Google, Apple and Pepsi among others. The way people speak depends on their city, mood, weather and moon phase. An important role in the communication of the business with customers may have the release of the film Star Wars, for example. That’s why training a chatbot to understand correctly everything the user types requires a lot of efforts.
Since the steep rise of available hardware and software platforms lately, nowadays chatbots are available everywhere. Originally, they were very tight to computers, then exchangeable through tapes, discs and floppy discs, but since the Internet era they have been widespread. For example ancient chatbot Eliza is now also available on iPhone, while famous chatbot A.L.I.C.E. is available on Facebook.
“It’s hard to balance that urge to just dogpile the latest thing when you’re feeling like there’s a land grab or gold rush about to happen all around you and that you might get left behind. But in the end quality wins out. Everyone will be better off if there’s laser focus on building great bot products that are meaningfully differentiated.” — Ryan Block, Cofounder of Begin.com