What if I were to describe to you a woman who would brighten up every time you called her name, always ready to do what you ask, never argued, never said ‘Not tonight, dear’. Sounds like a dream, doesn’t it? Well, there sure exists an identity with such features, with a name too, Alexa. Only, Alexa’s not a flesh-and-blood woman, but Amazon’s Artificial Intelligence-based personal assistant developed for the Amazon Echo devices. With an ability to perform a plethora of tasks simultaneously, Alexa and its related products have ensured that from mending shoes to placing food orders, everything can be easily managed by this bot.
AI: From Research Lab To Movie Halls
Since 2015, the chatbot market has seen an explosive growth of 35% since 2015, with a CAGR of 35% with over 80% businesses expected to develop chatbots which are estimated to bring in $8 billion in annual savings. Within a span of five years, Artificial Intelligence has moved from the domain of academic research to mainstream business communication.
From Google’s DeepMind to the FAIR (Facebook AI Research) program, most tech giants including Microsoft, Apple and Amazon are dedicating a greater part of their services towards developing sophisticated AI programs. These companies are also being given a constant competition from innovative chatbot-dedicated start-ups that are developing new AI and machine learning-based tools. This is also exponentially increasing the presence of AI in various sectors: hospitality, tourism, education, the scope of AI has seen unparalleled expansion.
Chatbots: Most Potent Weapon For Targeted Audience Communication
“All our agents are currently busy. We will get back to you as soon as we can. (Music)”
Remember this all too familiar message? Probably the single most frustrating couple of lines, this kind of recorded message was the zenith of enterprises trying to attain a highly professional image in front of their customers. More often than not, however, this backfired, as customers longed for a human interaction that could register their query and at least provide them with a window by when required action will be taken.
However, this situation is now changing. Today, enterprises are employing chatbots in core communicative functions. Some of the premier enterprises in the country such as State Bank of India, HDFC Bank, Oxigen Wallet, ICICI Bank, Bajaj Allianz, ICICI Lombard, Yatra, Lenskart etc. deploying chatbots to communicate with their customers.