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.
Are the travel bots or the weather bots that have buttons that you click and give you some query, artificially intelligent? Definitely, but they are just not far along the conversation axis. It can be a wonderfully designed conversational interface that is smooth and easy to use. It could be natural language processing and understanding where it is able to understand sentences that you structure in the wrong way. Now, it is easier than ever to make a bot from scratch. Also chatbot development platforms like WotNot, Chatfuel, Gupshup make it fairly simple to build a chatbot without a technical background. Hence, making the reach for chatbot easy and transparent to anyone who would like to have one for their business. For more understanding on intelligent chatbots, read our blog.
In 1950, Alan Turing's famous article "Computing Machinery and Intelligence" was published, which proposed what is now called the Turing test as a criterion of intelligence. This criterion depends on the ability of a computer program to impersonate a human in a real-time written conversation with a human judge, sufficiently well that the judge is unable to distinguish reliably—on the basis of the conversational content alone—between the program and a real human. The notoriety of Turing's proposed test stimulated great interest in Joseph Weizenbaum's program ELIZA, published in 1966, which seemed to be able to fool users into believing that they were conversing with a real human. However Weizenbaum himself did not claim that ELIZA was genuinely intelligent, and the introduction to his paper presented it more as a debunking exercise:
Despite all efforts during almost half a century, most chatbots are still easily uncovered, but over the next decades they will definitely get smarter and finally we will distinguish human beings by them giving us silly answers as opposed to the much smarter chatbots. All of this will really start accelerating as soon as one single chatbot is smarter than one single human being. They will then be able to learn from each other, instead of learning from human beings, their knowledge will explode and they will be able to design even better learning mechanisms. In the long run, we will learn language from chatbots instead of the other way around.
“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