Going digital is the way to go in the future and we are witnessing a paradigm shift across various industry verticals in which being digital is going to be the new norm. Companies from across various industry verticals are already taking various measures and modifications in order to align themselves with the digital-oriented requirements of the future. Organizations that are able to evolve with these changing times are going to thrive in the modern world while the rest will find it hard to compete and survive in the market. The recent penetration of social media and the increasing popularity of messaging platforms has opened new doors of opportunities for companies to attract new customers and keep in touch with the existing ones. With this came the introduction of chatbots and recent studies suggest that by the end of 2020, more than 80 percent of businesses will be using chatbots of some sort. In simple terms, chatbots are AI software that can have a chat or any type of conversation with the user’s through various messaging platforms, telephones, websites and mobile apps.

There are a plethora of advantages for introducing chatbots into your organization and some of the most visible advantages are given below.

• Improved Lead Generation: Chatbots creates effortless channels of communications that your customers can use to connect with the company using existing messaging platforms itself. This will help the company to attract a lot of new customers by having increased traffic and interactions with the general public. By following pre-set questions that will help the company to convert users visiting their website into potential customers, chatbots will be able to create leads like no other conventional business techniques had done before. This will also help organizations to tap into new customer pools that were previously unreachable.
   
• Offering 24/7 Customer Support: Catering to the needs of your existing customers is as important as creating new ones. AI chatbots will help the company to offer customer support of the highest quality day in and day out with consistency. This will help the company to create a positive impression among their customer base which is essential when it comes to creating a loyal customer base. Furthermore, 62 percent of companies considers the customer experience offered by a company as a genuine competitive differentiator. With more and more companies starting to appear in industries across the spectrum, it is essential to keep your customer base happy and satisfied by offering them top-notch customer service that is available round the clock.
   
• Reducing Customer Service Costs: Recent studies show that companies spend nearly1.3 trillion dollars on customer services and the implementation of chatbots can reduce that cost by 30 percent. This shows that introducing chatbots into an organization is a worthy investment which will help the company to optimize the costs that are incurred for customer services. This surplus money can even be used for further development plans or for investments.
   
• Reduction of Errors: Humans errors are inevitable and these errors can be costly for companies in this highly competitive business environment. By introducing chatbots, companies are taking those errors away and achieving consistency in their customer service support like never before. Customers will also appreciate this and they will be much more satisfied with the company’s customer service which is also an advantage for the organization.

While some companies have started implementing chatbots in their organization, many are still hesitant to depend on this technology. While they are able to perform normally for now, things are going to change in the next couple of years where having chatbots won’t be an added advantage but a necessity to survive in the market.