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January 5, 2021 by Blog

5 Myths about Chatbots

More than 90% of traders say that they can crack problems faster with chatbot technology.

Artificial intelligence and chatbots eruption has taken the world by storm. Businesses are investing billions of dollars in creating tech that is compatible with AI and Machine Learning.

Chatbots have become the most famous catchphrase in regards to digital transformation. Building this tech is every corporation’s dream these days. AI-driven chatbots have transformed the way you interact with applications because the tech offers extreme customer experience. But along with these benefits, some misconceptions are spinning on the web too.

Let’s unveil some myths about chatbots together to see if there is some truth to them or not.

5 Myths about Chatbots

Attached to certain benefits, it can be seen that there are several misconceptions roaming around in the air about chatbots. Let’s review them one by one to unveil the truth about chatbots:

1- Humans are afraid to talk to bots

Most of you assume that human to human contact always works the best. Your concern is valid, but we would like to share some statistics.

We came across some studies that were quite convincing in regards to this myth about chatbots. However, the results clearly showed that customers did prefer bot contact.

  1. Facebook conducted a survey and came to a deduction that more than 50% of the customers ended up purchasing from a provider via chat apps.
  2. Just because customers expect their queries to be answered instantaneously, organizations are working on introducing chat apps or chatbots to cater to their expectations. In terms of eCommerce websites, more than 30% of customers got quick responses through virtual assistants or chatbots and they were quite satisfied with the service.
  3. 40% of millennials claimed that they have been using a chatbot on a day-to-day basis.

2- Chatbot is too dumb to recognize customers intent

A bot is automated to respond to your queries. This is why many of you believe that it cannot go past a pre-programmed setting.

What you need to know is that a chatbot is built using natural language processing and machine learning. This advanced tech permits itself to learn from your behavior. Each conversation that is carried out by you makes it smarter. When you come up with a new intent, the bot analyzes your answer and adds it to its database.

3- Chatbots taking over customer reps’ jobs!

The below-shown picture is a survey result that was calculated this April to figure out the fear that revolved around chatbots taking over customer rep’s jobs.

There are several case studies available on the web which conclude that Artificial Intelligence is not snatching but creating new jobs for humans. Any sort of fear that is based on this fact doesn’t exist in general AI.

The only possible explanation linked to this myth is chatbots being able to enhance processes and automate monotonous tasks. While AI is so focused on saving customer’s time, they on the other hand believe that chatbots pose some threat to their jobs.

CS is the biggest area that is being served very ethically by AI-based chatbots. Such companies can deliver you quick services and respond to your queries ASAP. In its true essence, it is solving a lot of your problems, saving costs, and time as well.

4- Chatbots are only usable in CS

Well, that’s not the case. Chatbots have a lot to offer.

  • AI-based chatbots are evaluating financial activities at a larger scale such as current market trends in finance, credit bits of intelligence, data of debtors, etc.
  • It’s catering to cybersecurity concerns.
  • Selling and purchasing of goods & services
  • Educational institutes are using AI bots to conduct e-Learning

5- Chatbots are not that smart!

Chatbots are all the rage, and AI experts are trying their best to add more sense to it. Due to these continued efforts, the chatbots are becoming smarter and further improving user experience. In no time, bots will become more thrilling.

This implementation begs the demand: do you need to question their smartness?

The Bottom-line

You by now have a crystalline idea of the myth about chatbots. Certainly, this tech has improved customer experience, reduced costs, has increased efficiency, and will continue to do so in a far better manner.

As there are highly-functional chatbots in the market, would you not like to enhance your customer experiences as well?

To conclude, if you have the right platform to deploy this tech. With us on your side, you can develop a strategy to boost your sales and take your business sky-high.

Are you ready for that?

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