Updated May 31, 2023
Introduction to Chatbot Uses
We can define chatbot uses as the benefits of having chatbots that can lead our life in an easier manner by providing 24/7 support through the mode of speech-to-text or only text. The chatbot uses are like they reduce manpower, can work at any time 24/7, 365 days a year, without taking any leaves or weekly off, and generate more leads (due to their 24/7 availability), a benefit to the customer of having service irrespective of time zones. Besides this, their uses also lie in reducing the company’s costs while increasing customer service speed.
Different Chatbot Uses
Can you imagine the sectors where chatbots are not in? They are almost everywhere to make your day-to-day life easy. For customers, a chatbot provides a quick response, faster after or pre-sales services, and a feeling of personal connection to the company. Chatbots benefit companies by lowering the support cost, generating more leads, achieving more customers, increasing the customer conversion ratio, etc.
The following are some of the industries which are acquired by chatbot support:
1. E-Commerce Industry
The first and foremost impacted industry with the rise of chatbots is E-Commerce. The e-commerce market reached a valuation of USD 9.09 trillion in 2019. This market value is supposed to reach 10.36 trillion by the year 2020, which specifies the global trend of people buying goods from e-commerce platforms. This is increasing, instead increased customers was the biggest headache for them. Why?
Imagine a situation where you own an e-commerce platform and don’t have enough manpower to provide after-sales services to your customers. Or you don’t have enough salesmen to generate leads for you on customer buying preferences. Due to this, they have opted for chatbots, and right now, nothing can be more beneficial for them than a polite and humble chatbot who can be available there 24/7 for the customers. They help the e-commerce industry in making more money, saving manpower, increasing the sales cycle, and higher the customer satisfaction ratio in after-sales services.
2. Healthcare/Medicine Industry
Doctors have emerged as angels through this COVID-19 era, haven’t they? Their top priority is to focus on the patients, which gets affected when they have administrational work to do. Research has revealed that administrational work consumes nearly one-sixth of the working hours of US physicians.
As per a study conducted in the US, physicians favor using chatbots for scheduling doctor’s appointments, locating the closest health centers, and providing medical information; as it appears in the current pandemic, chatbots are even helping to conduct basic user information.
WhatsApp has recently partnered with WHO and launched a chatbot service that can answer users’ questions/concerns regarding COVID-19. The government of India has also launched the My Gov Corona Helpdesk in association with WhatsApp, which helps people access countrywide and global information about the pandemic.
3. Banking Industry
This industry should have been in the second position if not the COVID-19. This sector has used chatbots to reduce human traffic in banks. Imagine having a personal banker, relationship manager, loan agent, etc., at your fingertips. Forget about going to the bank every day. This is why nowadays if you travel to the bank, you will not have a long queue.
They are also helping banks make data-driven decisions, such as the interest rate for the fixed deposit for particular customers; if a customer spends a certain amount of money through monthly transactions, they will be eligible for a specific gift voucher, etc.
4. Traveling Industry
The travel industry has adopted the chatbot system as any of the above three has. The core reason is that a human only works for eight hours, and traveling agencies should always get customers across the globe according to their time zones. A chatbot allows you to generate customer leads associated with traveling with 24/7 and 365-day-of-year assistance (It never takes an off-day, you know!) for your business, like choosing a trip, making reservations, accommodation services, etc.
5. B2B Industry
A B2B company usually looks for the three important data points that give information about the customer and their approach. These three data points are Name, Mobile Number, and E-mail ID. These three data points are critical for the B2B industry to generate leads. Having an assistant chatbot instead of a human salesperson who can manage the platform 24/7 through where the leads are coming (Ex, Linkedin, Facebook, etc.) is nice. Chatbots will gather leads from every corner of the globe, irrespective of the time zones, without requiring human involvement.
Limitations of Chatbots
Given below are the limitations mentioned:
- The first limitation is the response limit. Due to their reliance on behavioral databases, chatbots have a limited scope regarding the questions they can answer, which may result in an occasional inability to assist.
- You can ask one question at a time, and chatbots will consider your first response. That’s why you are done if you are asking multiple questions or just trying to correct the previous answer.
- Chatbot and its efficiency are highly dependent on language processing, due to which it sometimes fails as language processing has limited scope due to different accents, spellings, mistakes, etc.
Conclusion
Chatbot has acquired almost every other industry due to its 24/7 availability and companies’ urge to reduce manpower. E-commerce industries are one of pioneers in using chatbots for lead generation, customer support, increasing sales cycle, and whatnot. The healthcare industry has seen a recent increase in using chatbots to help patients fix meetings with doctors, access basic health conditions, guide people to the nearest health centers, etc. Banking has used chatbots to reduce human trafficking in banks. You can have your manager, wealth manager, loan manager, and nearest atm locator at your fingertips. The traveling industry has adopted chatbots to help them manage global customers 24/7 without taking leave in generating leads, customizing bookings, hotel rooms for customers, tour details, etc.
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This is a guide to Chatbot Uses. Here we discuss the introduction, different chatbot uses, and limitations, respectively. You may also have a look at the following articles to learn more –
