Advancements in artificial intelligence, coupled with the proliferation of messaging apps, are fueling the development of chatbots. Chatbots are software programs that use messaging as the interface through which to carry out any number of tasks, from scheduling a meeting, to reporting weather, to helping users buy a pair of shoes.
Foreseeing immense potential, businesses are starting to invest heavily in the burgeoning bot economy. A number of brands and publishers have already deployed bots on messaging and collaboration channels, including HP, 1-800-Flowers, and CNN. While the bot revolution is still in the early phase, many believe 2016 will be the year these conversational interactions take off.
In a new report from BI Intelligence, they explore the growing and disruptive bot landscape by investigating what bots are, how businesses are leveraging them, and where they will have the biggest impact.
The potential annual savings that businesses could realize if chatbots replace some of their customer service and sales reps are substantial. AI has reached a stage in which chatbots can have increasingly engaging and human conversations, allowing businesses to leverage the inexpensive and wide-reaching technology to engage with more consumers.
Chatbots are particularly well suited for mobile, perhaps more so than apps. Messaging is at the heart of the mobile experience, as the rapid adoption of chat apps demonstrates.
The chatbot ecosystem is already robust, encompassing many different third-party chat bots, native bots, distribution channels, and enabling technology companies.
Chatbots could be lucrative for messaging apps and the developers who build bots for these platforms, similar to how app stores have developed into moneymaking ecosystems.