Learn how Chatbots are Evolving and what’s new in 2018

Recently, for the Chatbots Conference, I had the pleasure of sitting down with Arte Merritt from Dashbot, Tuba Tezer from BotAnalytics, Derek Roberti from Cognigi, Mark Stephen Meadows from SeedToken and Mehfuz Hossain from SmartLoop.

Combined these four companies process more than 50 Billion messages which surpasses most messaging platforms! Collectively we can gather a lot of very useful insights.

Each of these companies will be featured at the Chatbot Conference this upcoming September in San Francisco. Here are their top insights:

To Get Tickets Chatbot Conference.

Insights from Dashbot

https://medium.com/media/91c82c137ad52c97cfe3744fd400ef79/href

One of the biggest differences between bot analytics and traditional analytics is that bots are open ended. A user can say anything to your chatbot and as a result the odds of failure are very high. It is the equivalence of a user going to your website, creating their own button and hoping it works.

Fortunately, it cuts both ways and there is a tremendous opportunity in failure. On the flip side, users are telling you exactly what they want and need from your bot and you can decide weather to give it to them or not!

Users are telling you what they want!

Insights from SmartLoop

According to Mehfuz, there are 3 main use cases that are winning right now:

  1. Marketing: Marketers are using bots as a part of the funnel. The biggest advantage bots have is their open and click through rates. A good way to think about bots is as if they were smarter version of email. Imagine if email could automatically respond and take actions on your behalf and ‘do’ simple things, like book appointments, automatically.
  2. Customer Service: Bots are automating the most commonly asked questions and saving companies a boat load of money. According to Facebook’s studies, companies can save as much as 39% by using bots.
  3. B2E: This is the biggest use case no one is talking about. Companies are using bots to automate backend processes. These processes are helping employees become more productive and this segment is often referred to Business 2 Employee. Think HR bots, bots that help answer employee questions or do think like recover their password, and most Slack bots also fall into this category.

Insights from BotAnalytics

https://medium.com/media/09111ea158a2beff70440e62e6bc8704/href

According to Tuba from Dashbot, the average customer service is request is complete within 5 minutes of talking to a bot! This represents a substantially savings as the average call to customer service costs companies $1.60 per minute and about $16 per ticket. Bots offer a substantial savings from customer service.

Insights from Cognigy

https://medium.com/media/ea01c6cd661f59d9b8d52a48312b976e/href

According to Derek from Cognigy about 40% of their use cases are B2E! This means that enterprises are building a multitude of internal bots designed to complete internal tasks!

Insights from SeedToken

https://medium.com/media/5ef2f97c657ebdd2d2e74b6efb22f199/href

As the bot space grows, one of the biggest issues that bots will face is trust. There needs to be a systemic way to authenticate and verify that bots are who they say they are and that they can preform the promised service. This is where blockchain comes in!

Next Steps

The Chatbot Conference is featuring the top 40+ speakers in the Chatbot/AI space from companies like Google, IBM Watson, Oracle, Amazon, Dashbot, SmartLoop, OctaneAi, and Assist.

Learn More: Chatbot Conference

Get Tickets: Get Tickets Chatbot Conference.


Top 3 Chatbot Insights from the founders of Dashbot, BotAnalytics, Cognigy, SeedToken & SmartLoop was originally published in Chatbots Life on Medium, where people are continuing the conversation by highlighting and responding to this story.

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