Real-World Applications: How AI Chatbots Are Transforming Industries

Virtual assistants and chatbots entered the scene with little resistance. Now, they aim to find their usage in all the possible spheres. While their possible implementation in some sectors like iGaming is obvious: bots can assist players with bonus deals, such as Vulkan Vegas promo codes, or help gamers solve any issues they may encounter in the lobby, it’s less clear for other fields.

Chatbots have been evolving over the past couple of years to add convenience and more value to our daily activities and interactions. As a result, computer-vision AI has significantly transformed customer care and contract centers, enriched workflow data, and optimized staff time and costs. Today’s piece covers the concept of AI bots and highlights the reasons why this technology is a game-changer across industries.

Why Are Organizations Going for the Chatbot Option?

Experts predict that AI chatbot technology will become the primary source of customer service insights. In addition, this market is envisioned to hit over $75 billion before 2030. It’s no wonder more enterprises are turning to it as their effective customer service agent. There are two primary reasons for this trend:

Customers prefer texting, which makes chatting the primary means of communication. According to recent stats, about 75% of clients prefer text-based appointment reminders, and 66% of them try using self-service before consulting with customer representatives;

This tech doesn’t need breaks to go offline or sleep like human support agents. The technology enables businesses to provide customer care around the clock, which is exactly what every client wants.

How the Chatbot Is Transforming Industries

Artificial intelligence has found various applications across diverse sectors involving human interactions. Besides the online casino example we mentioned earlier on, here are more notable instances:

E-Commerce

Today’s shoppers are knowledgeable and want detailed product information before ultimate purchases. They expect quick answers and will go to another seller if they don’t get them. Brands must invest heavily in staff, infrastructure, and technology to meet these needs. But a chatbot can cut some slack, reducing these costs and setup time.

AI-powered chatbots can understand customer questions and provide instant product details around the clock. H&M is a great example. The fashion and design brand uses a chatbot to help customers find the right fit, style guides, and prices. Customers get better shopping experiences, while the brand enjoys more sales and increased customer retention.

Financial Services

Very few industries have adopted chatbots powered by artificial intelligence with as much intensity as financial organizations. Considering the significant transformations the technology can deliver, this huge demand isn’t a surprise. AI chatbots have transformed human resource management by simplifying how the department handles ticket generation, employee requests, onboarding, and data updates. These tasks are now self-service, and HR managers can focus on employee satisfaction and gathering feedback.

AI chatbots also facilitate security training. They answer questions, give advice, provide scores, notify employees about updates, and keep them informed on cybersecurity measures. Lastly, such chatbots enhance employee education by tracking progress, monitoring scores, and generating performance reports. Additionally, they can also manage online lessons and tests. DuoLingo’s bot is an excellent example.

Healthcare

Telehealth is now the best way for doctors to reach patients remotely and offer medical help. This trend has been made possible with AI chatbots and has solved significant healthcare issues. Bots help healthcare workers by providing quick access to patient records and aiding status monitoring while also helping them process requests and manage appointments.

Additionally, patients can self-serve and get answers to questions about the facility, insurance, health plans, and medical services. Similarly, the technology also helps doctors manage their time by quickly identifying emergencies and prioritizing patients. While overworked staff can miss important information, AI tools document everything.

Banking

Banks constantly adopt new technologies to stay competitive and prepare for future challenges. They have turned to fintech and artificial intelligence to address their key concerns. Take HSBC’s Conversational AI, Amy, for instance. The technology helps customers throughout their banking journey, onboarding them and solving account issues. These assistants handle tasks such as checking balances, changing PINs, reporting lost cards, and processing payments. They improve customer experience by being available 24/7.

Moreover, AI chatbots monitor access and login attempts so that they can alert clients to suspicious activity and guide them on protective actions. On top of that, most banks leverage voice recognition to prevent fraud by distinguishing genuine voices from forged ones. It’s typical for customers to avoid banks due to aggressive promotions and poor service experiences. However, AI agents improve this by engaging website visitors, handling inquiries, and providing relevant information without pressure.

AI-Powered Bots – Effective Tools for Various Sectors

Of course, the above list of industry applications is just the tip of the iceberg. The technology can do much more, and more business establishments are leveraging AI chatbots. In fact, chatbot-customer interaction is increasing daily. Most companies are choosing AI chatbots thanks to their instant, human-like services around the clock. Smooth and fast customer service fosters brand loyalty and attracts new clients with minimal advertising costs, and that is exactly what many businesses are aiming at.