Do you have the feeling that you are listening and reading about Artificial Intelligence everywhere? You are right, AI is the new Big Data and the market for it is expected to keep rising until 2022, achieving a value of around $16 billion, which means a growth of 60%.
Considering these rates, who does not want to be part of it?
Analyzing Marketsandmarkets predictions, inside the huge field of AI, Natural Language processing will be a key sector.
Another growing sector is messaging apps, such as Facebook Messenger or Whatsapp, and if we connect it to the boost of NLP we cannot be surprised about the irruption and quick proliferation of chat bots.
There are many different types of chatbots, and you may not even notice you are interacting with one of them but their purpose is all the same, improve UX and try to make easier people’s daily routine, and growing ROIs while doing so.
However, according to our internal research, there are three chat bot applications that will exploit this upcoming year 2017.
Chatbots for healthcare:
Who has never suffered long waiting for a doctor's appointment? Healthcare systems are far of being as efficient as people need them to be, but Machine Learning can play a key role in fixing that. Experts say that machines analyzing data already can predict some diseases, and they do so at a higher accuracy than doctor's eye . Also they are faster analyzing data and corpuses and establishing relations that lead to the discovery of new drugs or treatments.
A major factor to heal a disease is to detect it on time, however because of the waiting times, people avoid to go to the doctor. But what about if a bot could detect you are sick by asking you very simple questions, analyzing you entire medical history, and directly prescribing you the treatment needed if it's something minor or handling the booking process with a specialist for a more accurate diagnostic. All that without interrupting your daily routine or even going close to an hospital.
The magic key in this sector will be to train the bot to communicate empathetically and accurately with humans, since health is a matter of concern for all of us. Linguistics shows up as the best solution in this case, being able to teach the bot different registers according to the automatic detection of the context.
Chatbots to transform UX:
Chatbots are considered as the new must have feature, and that is why you may have noticed how suddenly they appear in many websites you visit. The idea is that they enhance the user experience by simplifying the navigation inside the website. Instead of spending time searching in the site or filtering the products or browsing for the info you need, you can directly ask the bot. This will save time to the user, reduce bounce rates and rise the levels of engagement.
But, what happens when the bot is not able to understand what user is asking for? For example in an airline customer service bot, answers required tend to be quite complex ones, and to give the appropriate reply demands a well-trained bot. If the robot fails at understanding an user, she may leave and not returning again.
The key of success for bots in this sector is the ability to understand what customers are saying, and being able of building answers from scratch. If you are interested in this topic, download our white paper.
Chatbots for banking:
About a month ago, several financial companies presented new tools, but there was one common to almost all of the them: chat bot apps.
These apps are not as complex as the healthcare ones, for now, they just answer to basic questions, and allow you to organize your budget, but in the close future they are expected to do much more for you.
Financial data can be complicated for many users, so the idea is to transform that into understandable and easy insights to be acted upon by customers. In the financial industry they consider chatbots as the next big thing, they will be able to do things such as helping to plan your bill's payment, showing information about your spending habits or giving you investment tips.
If you are interested in learning more about chatbots download our white paper writen by one of the experts in Text Analytics field, Stephen E. Arnold!