Published On: August 22nd, 20234.1 min read

What lies ahead in the realm of the future chatbot?

Voice-enabled chatbots

As technology marches forward, voice-enabled chatbots and virtual assistants are becoming increasingly popular and relevant to businesses. In the era of future chatbots, this functionality empowers users to effortlessly engage with businesses using only their voices, enhancing interactions through seamless convenience. With the rising popularity of voice-controlled devices, the market has now 142 million active users according to Statista. Amazon’s Alexa sold 500 million devices which justifies the reason for adding voice-enabled chatbots and shows the growing numbers of voice service users.

Chatbots in payment

This trend is pretty interesting. After successful impacts and automation in sales, lead generation, and marketing, chatbots have also proved to be effective in the payment space as well. Starbucks has a chatbot to assist in payment and this feature shows enormous results. In 2018 july-september it had made 14% of all U.S.A mobile transactions alone. Also, it is beneficial to the UX of the product. It eliminates the need of navigating a separate page for payment and leads to a faster and more inconvenient payment process. Even Mastercard launched their Facebook-integrated Mastercard chatbot which aims to cover the 98% transition in Africa which turns out to be 300 billion in cash. This chatbot aims to use customers’ mobile banking applications to make payments from their bank accounts. Juniper Research conducted a survey that suggested that transactions via chatbots are expected to reach $112 billion by 2023. 

Future Chatbot | Voice-Enabled Chatbots | Chatbot Payment | Business Success | Nascenia Blog

Is a Future Chatbot a valuable addition to your business?

Despite chatbots having many benefits and potential, you as a business owner need to assess whether or not you need a chatbot right now. Although some businesses claimed that it has proved to be beneficial for their overall business and skyrocketed efficiency in some special spaces like sales or marketing, another side argued otherwise. In our pursuit of developing future chatbots that emulate human interaction while seamlessly multitasking, it’s important to bear in mind that the most user-friendly technologies are often the most challenging to construct.

Define your business goals: Try to have clarity on that first. First, understand why you need a chatbot. Is this for sales or marketing? Or you need it to collect leads or provide extensive customer service. Once you are done with it then focus on whether the chatbot aligns with your brand persona or not.

Budgeting: Chatbot is a long-term investment. See if you have enough budget to allocate for your chatbot. After defining your needs, you need to choose what kind of chatbot you can purchase according to your budget. If you choose rule-based chatbots then it will cost you less but if you choose an advanced NLP-programmed chatbot then it might cost you a good amount of money.

Customer preference: What kinds of customers do you serve? If it is related to e-commerce and saas based business then it is a good idea to have a chatbot. Otherwise, if your customer base is for memory care facilities then it won’t make much sense to have a chatbot

Do your competitors use it?: This is considered a good sign to add a chatbot to your business. If an increasing number of your competitors are using that then it qualifies that chatbot is already a good investment for your native industry and you are likely to have a good outcome with it.

Checkouts before building a chatbot

In the context of Future Chatbot, it’s essential to consider certain factors while crafting an exceptional chatbot design.

1. Create a chatbot that supports many languages and builds the interface in a way that allows users to quickly switch between languages. 

2.  Create a chatbot that is culturally aware. Be careful not to offend your consumer with language-related gaffes and misunderstandings.

3.  Use chatbots to inform or educate your customers about new items or market trends. Deliver useful information to establish your reputation as a reliable partner.

4. Make sure to incorporate tools that allow you to approach clients by name and recall their previous purchases from you. Customers feel appreciated and feel a humanoid relationship with the robot.

5. Ensure all kinds of security and data privacy while building a chatbot. Make sure you are following standard data protection regulations to protect your and your user’s data. Ensure data encryption-related issues and authorization.

In the end, the adoption of chatbots provides a plethora of opportunities and benefits. Whether you want to increase the quality of customer service or sales, chatbots are a great option to do so. On the whole, embracing future chatbots can serve as a promising route to attaining business success, particularly within this digitally propelled age. As technology evolves, using chatbots strategically will be important to stay up-to-date and competitive. Now it’s up to you to choose the right chatbot for your business and get started.

Contributor: Joydip Barua, Content Writer

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