This artificial intelligence software is among the most advanced and promising software dealing in human-computer interaction. Technically, a chat bot symbolizes the natural development of a Question-Answer system supporting Natural Language Processing (NLP). Framing answers to questions in natural language (that is, human language) is the most beneficial point of NLP used in several end-use applications of various enterprises.
Chat bot application simplifies interactions between humans and different services, eventually pleasing a customer’s overall experience. From the companies’ point of view too, chat bot offers various opportunities to enhance the customers’ engagement process and reduce the total cost of customer service.
The working of a chat bot is based on two main tasks. Let’s have a look on them.
Under the first task, a chat bot examines the user’s request and identifies his intent and extracts applicable entities.
Under the second task, where user’s aim/intention has already been identified, the chat bot provides the most suitable answer/response to the user’s request. The answer can be in the form of:
To stay in demand and provide best solutions, a chat bot solution must be able to perform both of the above mentioned tasks. However, this tool won’t be a big support for a company without human intervention, of course! We play a key role in configuring, training and optimizing the chat bot system after all.
As per a recent report published on www.businessinsider.com, the market size of the chat bot is projected to grow from $2.6 billion (as per the 2019 report) to $9.4 billion by 2024 at a compound annual growth rate (CAGR) of 29.7%.
As chat bots are definite money savers for the enterprises, especially under the current COVID-19 pandemic, projections show steep growth over the forecasted period. Chat bots are successful business carriers in sectors like marketing, payments and processing and service.
Today, chat bot consumers demand 24*7 services for assistance in areas scaling from banking and finance to healthcare. To simplify the assistance processes, companies are rapidly opting to develop suitable chat bot solutions to answer the queries of global customers, at any time of the day.
If you are seeking an apt and reliable AI chat bot solution as per your business demand, Atomic North has the zest you have been looking for. Atomic North is a full-service technology partner having high proficiency in dealing with the best and most updated tools and the best-in-breed solutions to provide elevated support systems to your business on a 24x7 platform. With multiple effective AI chat bot applications already in deployment, we guarantee proficient handling of company demand so that you may propel your business to newer heights.
by Arun Prakash
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