7 Industries That Have Been Taken Over By Chatbots and Why

According to a recent survey by Oracle, 80% of businesses are planning to use chatbots by 2020. This makes perfect sense, given the fact that advancements in artificial intelligence that brought us emerging technologies like chatbots are enabling businesses of all sizes to step up their game and take customer experience to a whole new level, boosting engagement and enhancing communication, while increasing sales and lowering costs at the same time.

Chatbots truly have a revolutionary power, and more and more companies are rapidly hopping on the bandwagon to unleash that power, but which of them can reap the most benefits by implementing these cutting-edge computer programs? Read on to find out which industries have been taken over by chatbots and why.

The e-commerce industry has perhaps experienced the greatest benefit of chatbots, since e-commerce businesses communicate with customers on a daily basis, and chatbots are primarily designed for seamless real-time communication with consumers.

By implementing chatbots, retail businesses can stay in touch with their customers and prospects 24/7, providing a hyper-personalized service, since their chatbots have access to databases storing their entire history of customer interactions, along with all the pain points of their target audience and their interests and preferences regarding their products.

Therefore, chatbots are customer service virtual agents that fully understand their consumers’ needs and can forge meaningful relationships with them, following them through every stage of the sales pipeline and leading them towards the point of sale.

The success in the travel and hospitality industry depends on the quality and speed of service, which is something that chatbots provide. Hotel guests, for instance, are always on-the-go and expect fast service when booking a room, checking in and out of a hotel, checking for amenities and ordering room service. The same goes for airlines, restaurants and other businesses that provide hospitality services.

This is where chatbots come into play. People can communicate with them via their smartphones and instantly book a hotel, an airplane ticket, a restaurant table, order food and drinks, or request any information about the services they need, with zero wait time, since chatbots can handle multiple chats at the same time, no matter the time zone or the language of users.

The banking and financial industry is also undergoing a great change in the transactional nature of most of the banking tasks due to the implementation of chatbots. Banks are increasingly launching chatbots that can seamlessly handle online customer tasks, such as transferring money, tracking the transfers, checking balances, viewing transactions history and even locating the nearest ATMs.

Moreover, as bots can sift through enormous amounts of data in seconds, they can instantly detect any fraudulent behaviour, successfully preventing fraud. Since handling sensitive financial information online is still a major concern for many people, especially when it comes to handling it on mobile devices, banks and other financial institutions are constantly working on making sure that their chatbots are safe and provide the highest possible level of security.

Chatbots in the healthcare industry enable better patient engagement, providing them with a personalized experience and responding to their requests in real-time. They can answer to FAQs, schedule appointments, track patients’ care, send alerts to patients regarding their care and consultations, update patients’ medical history, automate data entry to reduce the risk of human error, and handle many other tasks.

By using chatbots of their healthcare providers, patients can stay informed, get immediate help when needed, and build a proactive relationship with their doctors, while healthcare professionals can build a repository of data necessary for providing high-quality service and treating every patient with utmost care.

The insurance industry is yet another one where chatbots absolutely thrive. Chatbots are transforming insurance in that they provide policyholders with a personalized experience by offering them a self-service option for solving their problems in real-time. For instance, they help people purchase insurance and provide them with all the necessary information about their insurance coverage.

Chatbots can deliver personalized quotes, quickly and efficiently manage insurance claims, automate the claims process, provide relevant coverage and care advice, and quickly and easily update accounts and manage payments, ultimately maximizing organizational efficiencies and strengthening the relationships between providers and policyholders.

Chatbots in the IT industry are of incredible help to IT personnel, since they can automate repetitive tasks and reduce the risk of human error, as well as analyze large amounts of data and provide detailed and insightful analytics.

Businesses providing IT services can improve their customer experiences with chatbots, as bots can provide real-time tech support and answer all inquiries related to product features, resolve tech issues by offering a personalized approach, and essentially provide 24/7 self-service support to all users.

The education industry is also reaping many benefits from chatbot implementation, especially because millennials prefer messaging apps to any other kind of communication. Students can use chatbots to fill out applications and request information about their curriculums, exams, deadlines, or ask any other question relevant to their courses.

Teachers, on the other hand, can use bots to schedule meetings with students, assign course schedules, receive payments regarding tuition, and even evaluate their students based on the streamlined data that their chatbots can analyze.

Chatbots are definitely the new holy grail for improving customer experiences and increasing engagement, helping businesses in every industry strengthen their brand presence and improve their bottom line. If you are looking for the best platform to build your own intelligent chatbot, look no further than SnatchBot.

SnatchBot is a revolutionary bot building omni-channel platform that can fit the needs of every industry and help businesses build the best possible messaging experience for their customers. It enables you to create and launch your chatbot for free, with no coding skills or hidden costs down the line, and it comes with state-of-the-art NLP and enterprise-grade security that complies with regulatory mandates.

With SnatchBot, you get unlimited free bots, unlimited free messages, unlimited free support, and an incredible flexibility and ease of use of its intuitive platform. I highly recommend you check out its Bot Store to explore numerous pre-built bots that you can use and start building your very own chatbot right away. The sooner you start, the sooner you can reap the benefits and delight all your customers, turning your business into a lucrative one and standing high above your competition.