May 17, 2018 | By Cassandra Gagnon
Experience the leading provider of consumer foresight.
May 15, 2018
By WGSN Insider
Artificial Intelligence (AI) has effectively reached and changed every corner of our lives, both personally and professionally.
From how we manage our homes, confirm facts, or even make use of vast amounts of data, AI has provided helpful solutions. It should come as no surprise that AI is set to play a much bigger role in our everyday working lives. In fact, 75% of executives believe AI will allow their businesses to enter new fields and one of the AI applications leading the pack is chatbots.
They’re already popular amongst consumers, with 44% of Americans preferring to chat with a bot over a human. According to Juniper research, the tool is expected to reduce business costs by $8 billion in just four years.
While chatbots have seemingly conquered the B2C space, the next frontiers of B2E and B2B are on the cusp of their own chatbot marketing revolutions. Before looking at the various applications that will enable smarter ways of working, it’s important to know how chatbots are built through enterprise platforms.
Simply put, a chatbot platform is a set of tools used to construct and install chatbots.
After defining the challenges and services a business wishes a chatbot to resolve, companies can utilize a bot builder platform to create, teach, and manage their customized chatbot. Before these platforms became available, chatbot creation was a highly specialised and difficult job which demanded advanced coding knowledge and sophisticated tools.
Thanks to the availability of several chatbot enterprise platforms, almost anyone can create their own AI-enabled chatbot. These platforms are generally powered with AI and allied components such as Natural Language Processing, Machine Learning, and analytical algorithms. The platform can be used to create and integrate chatbots into existing lines of business and resource planning systems.
For example, Motion.ai – acquired by Hubspot in last September – can be used to visually build, train, and deploy chatbots on Facebook Messenger, Slack, Smooth, or a website. Hubspot is reworking the software with the aim to have this platform available in coming months, free of charge.
As AI develops further, many of these chatbot building platforms will scale up for other services. They will enable the addition of other capabilities like integration with your own APIs or with other messaging platforms such as Skype for business.
Employee productivity is heavily impacted by how fast information can be accessed and simple tasks completed. Chatbots can be used to streamline some of the routine tasks employees carry out on a daily basis. They are also capable of automating responses to common workplace questions about payroll, pension plans, and more.
Intelligent Digital Assistants – Each day employees juggle a number of different applications and datasets to complete their work. Integrated chatbots can cut down on the need to switch between systems. This will allow employees to access data easily, without the need to open new windows. Information can be presented when requested, or when the chatbot sees it is needed in either text or rich media formats. Chatbots can also send personalized updates on projects, recommendations for handling customer’s accounts, or best practices to employees. This eases up the entire project management process, making tasks far less time consuming by automating and organizing tedious administrative chores.
Automating Internal Tasks – Labor-intensive yet routine tasks such as IT help desk queries, automating intranet content, authoring, and routine administrative jobs can be performed by a chatbot. Customized bots can be built to automate regular business processes, saving employees time and allowing them to focus on more creative and productive work.
Pensions And Payroll Advice – Chatbots can be tailored and primed with information on company pension schemes and common payroll queries. Consultancy firm Matter has already built a bot named Matilda that offers a wealth of advice on pensions. Major banks are also jumping aboard. Similar bots have already been developed by Bank of America, JPMorgan Chase, and Wells Fargo.
The opportunities to use chatbots for streamlining business processes for employees and B2B relations are seemingly endless. They’re truly only confined by our own imaginations and the availability of necessary data. As enterprise chatbot platforms develop further and more features become available to businesses wishing to access the technology, the question will change from ‘why build a chatbot?’ to ‘which features are the best fit for our business needs?’.
This post was guest-written by Josephine Perry from enterprise mobile messaging platform, Snaps.
Want more like this? read WGSN Insight’s Artificial Intelligence: Creating Operational Advantage report.
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