Top 4 Industries Taking Advantage of Chatbots - IQVIS Inc.

Top 4 Industries Taking Advantage of Chatbots

Technology is replacing humans at an alarming rate. Machines are now replacing things that were handled by humans in the past. Just to give you an example, imagine robots conducting complex human surgeries. There are several other examples as well. Let’s have a look at some of the statistics revealing the domination of robots over humans.

When we talk about robots, it will be unfair not to talk about AI chatbots. They are leading the way to disrupt every industry and business sector. It is worth to mention that not only chatbots are better than humans are but also they provide a deep analysis of key metrics including sales, customer engagement, traffic and much more.

According to a new survey, 80% of businesses want to integrate chatbots in their businesses by 2020.

The majority of companies have already adopted chatbots to some degree and have used it in some form. You may have heard of chatbots delivering customer services 24/7 on e-commerce and service websites. There is a lot more to discuss on chatbots in other industries as well. Let’s have a brief overview of how chatbots will or have disrupted various industries.

1. Hotels and Restaurants

Chatbots are changing the way businesses interact with their customers and solve problems. They can provide quick response 24/7, 365 days a year. Hospitality and travel industry can integrate chatbots to build a proper guest profiling. It would help them to serve customers better by offering customized services and offers, resulting in guest loyalty and satisfaction.

Hotels run 24/7 to serve customers staying at the hotel. Chatbots are capable of offering 24/7 service which will ultimately reduce the workload of front desk personnel. Moreover, they have the capability to stay connected to guests’ right from the check-in. No matter, what queries they have in mind, chatbots can give answers instantly resulting in repeat visits and guest satisfaction.

Personalizing the room according to guest needs can be done through chatbots. By simply answering few questions, guest can book the room according to their own preference during the check-in. Similarly, if the guest wants to book a ride, order food, get room services or other hotel services, chatbots are there to serve them.

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The same goes for restaurants where chatbots can greet guests and offer food menu as soon as they sit. Chatbots can add or subtract any food item given in the menu. Moreover, chatbots can help in reducing the workload of staff working at the restaurant. Famous restaurants like Taco Bell and Burger King have already introduced their chatbots to improve restaurant operations and standout from the competitors.

2. Banking and Financial Services 

When it comes to banking, most of the customers are not comfortable to talk to the customer representative. Especially when it comes to asking about investment, credit cards, loans, and account information, most of them will visit bank’s website.

However, chatbots can help in making a big difference. Simply by greeting the guest on the website with a “hello”, and asking what they need to know. Whether the visitor wants to ask about investment portfolios or better mortgage plans, chatbot can guide them to click the link or throw a text-based answer.

There are myriad of possibilities when it comes to deployment of chatbots in banking and financial institutions. For instance, if a person needs to change its current account to savings account, chatbot can guide them through the procedure to follow.

3. News and Media

According to the study published by the Pew Research Center, 67% of adults in the US get some of the news on social media and 20% frequently turn to social media to find out what’s going on in the world.

Some of the news and media agencies have already realized the integration of news focused chatbots for social messaging platforms. CNN is one such example that has developed chatbots for Kik, Line and Facebook Messenger.

The future of chatbots in news and media is bright as it allows the user to read the topic that they love. The data is collected through past search behavior of users allowing them to view content that is relevant to their interest.

4. Chatbots in Fashion Industry

Chatbots is paving its way to improve customer experience and business processes. The fashion industry is no exception as the famous brands like Tommy Hilfiger and Victoria’s Secret has already realized the importance of chatbot in improving customer services and increasing sales.

The bot displays the available collection of fashion accessories available at the store. With a number of questions asked, the customer can pick the option according to their own needs. For instance, if they like to go for casual or formal wear, what price range suits their budget, what colors do they prefer and much more. Customers can have shopping experience as if they are in a bricks and mortar shop with a sales representative ready to help them.

Conclusion

Chatbots will dominate almost every industry in the coming years. Therefore, before hiring a chatbot development company, you need to analyze your business and the benefits it would reap in the long run to offer you positive ROI.

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