A Chatbot is an artificial intelligence (AI) software that can simulate a conversation (or a chat) with a user in natural language through messaging applications, websites, mobile apps or through the telephone enhancing customer experience.
Why are chatbots important? A chatbot is often described as one of the most advanced and promising expressions of interaction between humans and machines. They offer companies new opportunities to improve the customers engagement process and operational efficiency by reducing the typical cost of customer service.
In addition, consumers are no longer content to be restricted by the communication methods chosen by an organisation. They want to interface with technology across a wide number of channels.
Chatbots offer a way to resolve customer’s issues by allowing customers to simply ask for whatever they need, across multiple channels, wherever they are, night or day.
Chatbot can be simplified as evolution of a Question Answering System leveraging Natural Language Processing (NLP).
Formulating responses to questions in natural language is one of the most typical Examples of Natural Language Processing applied in various enterprises’ end-use applications.
There are several different types of chatbots, from basic scripted chatbots to cognitive AI chatbots.
AI-powered chatbots allow companies to provide more value to their customers because they have the ability to answer queries in a more human-like way, preserving meaning and context from one response to another.
They use Natural Language Processing (NLP) capabilities.
This AI chatbot technology enables them to understand the intent of a phrase or sentence and respond to that intent, rather than to a keyword.
Some chatbots offer a remarkably authentic conversational experience, in which it’s very difficult to determine whether the agent is a bot or a human being.
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