It’s still hard to believe or measure the impact artificial intelligence has on our everyday lives and it’s not easy to keep up with the latest innovations in this field. Although this technology was devised decades ago, only in the last few years has it begun to be applied and tailored to different business sectors.
One of the strengths of this technology, that has been expanding, is the possibility of automating business communication processes.
Such initiatives are usually carried out by chatbots, systems integrated on websites and social media pages that deliver a personalized service to clients, answering questions and proposing new products or services according to client activity. These virtual assistants, able to answer multiple customers simultaneously, are the result of technological advances like artificial intelligence and natural language processing.
To understand the potential impact this technology may have on a business, we’re sharing some statistics taken from industry focused studies (sources linked to the numbers):
¼ of the world will use messaging apps by the end of 2019;
5.4 minutes is the average time a chatbot takes to solve a client’s problem, in contrast to the average time of 38 hours taken by a human;
7 to 25% increase in annual sales in stores that use communication automation systems efficiently.
24/7 : the availability of virtual assistants to answer possible customer problems;
27% couldn’t tell if they interacted with a chatbot or a human in the last messaging conversation with a brand;
30% cost reduction in customer service operations with the introduction of automation systems;
40% of big companies (more than 500 employees) will implement one or more virtual assistants in their business in 2019;
40% of millennials say they interact with a chatbot on a daily basis;
47% of consumers say they’re open to buying items using a chatbot;
48% would rather communicate with a brand via chatbot;
55% of consumers say they’re interested in contacting a business using messaging apps;
71% of consumers use chatbots to solve their problems quickly;
85% of customer interactions will happen via chatbots in 2020;
88% open rate and 56% click rate using chatbots, in contrast to the 40% open and 2% click rate in email marketing campaigns;
90% of interactions in the Banking industry will be automated by 2022;
95% of consumers consider that instant replies are the most valued quality in chatbots;
1960 was the year in which the idea of creating virtual assistants first came about;
300,000 active chatbots per month on Facebook (in 2018);
1,000,000 dollars can be saved annually (on average) per call center with the introduction of this technology;
1,340,0000,000 (1.34 billion) dollars: forecasted value of the chatbot market in 2024. In 2017, this industry was valued at 703 million dollars;
2,500,000,000 (2.5 billion) hours saved by this technology starting in 2023;
8,000,000,000 (8 billion) dollars will be saved each year (starting in 2022) with the introduction of communication automation systems;
1,300,000,000,000 (1.3 trillion) dollars spent annually by companies in customer service calls.
Interested in the impact these chatbots may have on a business? Contact us via firstname.lastname@example.org, tells us about your company and help us modernize your customer interactions.