Chatbot Development Trends 2020

Chatbots have become more popular than ever in recent years. As time goes on, chatbots will continue to evolve, become even better, and eventually perform a central role in customer service for all different types of companies.

The Small businesses are now leveraging AI technology to improve their operations, connect more deeply with their customers and, ultimately, boost their sales.Interestingly, customers around the world are adopting chatbots for interactions. This also makes a new pathway for businesses to introduce new opportunities. Let’s look at the top five bot trends that enterprises can watch out this year.

1.Rich customer insights

Chatbots store valuable customer data for analysis. Though there has been steady growth in chatbot adoption across 2018, reports indicate that 80% of businesses will be deploying more customized result-driven chatbots by 2020.

Artificial Intelligence helps to automate data collection. The analysis requires proper attention from a dedicated team, which can then focus on improvement areas, optimizing processes, minimizing errors, and creating success. Advanced chatbots are even able to improve themselves by learning over time.

2.AI-powered chatbots are becoming more intelligent

As we move forward with new advancements in digitization, data has become crucial. In 2020, one of the pressing tasks for the enterprises will be to leverage the increasing amount of data to make data-driven decisions. And that’s exactly where artificial intelligence (AI) will play an important role in endeavoring new ways for data analysis to derive valuable insights from the collected data.

Chatbots integrated with AI algorithms can help to automatically detect patterns and learn strategies to achieve customer-centric goals. AI-powered chatbots will have access to a plethora of knowledge and therefore will gain the ability to understand customers’ requirements based on their interactions with the brands.

3.Voice bots are becoming mainstream

Voice recognition technology continues to improve in accuracy, and advanced services are getting added to it.

The best example to explain better is Google Allo, an intelligent messaging app packed with Google Assistant that interacts with the user by texting back and replying to queries. This app supports both voice and text queries.

4.Social media will dominate the adoption of AI

At the F8 Conference, David Marcus (VP of FaceBook Messenger) announced that over 100,000 Facebook bots were active on Facebook Messenger platform. These chatbots are popular with customers too — over 2 billion messages pass between customers and brands every month using automated systems.

Customers always had the need to contact the business for some reason or the other. Based on surveys made it can be concluded that online shoppers need assistance in their buying journey. But the expenses would mount high in case you are hiring support agents to meet customer’s requests.

5. Automated payments by chatbots in future

Chatbots are drastically changing the way businesses interact with customers, manage campaigns for lead generation and automate payments. Chatbots Magazine found out 67% of US millennials said they are likely to purchase products and services from brands using a chatbot.

The future of chatbots is that businesses will automate simple payments and allow users to pay directly over live chat

Automation will make it roots extra stronger and overcome all the chatbot challenges faced by the businesses.Marketers are loving chatbots for its capabilities, and even the innovators and brand communication strategists are looking forward to incorporating new chatbots into their businesses. Trends outlined in this blog post are sure to make a remarkable change in your business when adopted correctly.