5 Industries That Will Benefit From the Chatbot Revolution

May 26, 2017


A chatbot is a conversation engine trained to have a conversation with humans and it’s been equipped with artificial intelligence. Chatbot revolution is about to change the way customers and companies interact with each other.

Why is it a big opportunity?

Do you remember the times when you had to call a customer support? You had to listen to music for at least half an hour before someone helped you. Sometimes you just simply sent an email and waited days before you got a response. And then there were the times when you filed your complaints via Twitter or Facebook to get immediate help. Those times are over for good. According to recent statistics, people now spend more time using messaging apps than social media.

Personally, most of the time when I’m on my phone, I’m using a messaging app, like Facebook Messenger, Whatsapp, or Skype – all for different purposes. These are also the places where I would want to be served, instead of emailing my favorite e-commerce company to look for my purchase or call a representative at my bank. Calling or emailing customer support feels so old-fashioned. Customers want to engage with the firms they deal with right where they are: in their favorite messaging platforms.

Firms must utilize the enormous opportunity that chatbot and artificial intelligence offer for them. Last year, Facebook opened Messenger for chatbots which were stated as “the most important launch since the app store”. It’s not a surprise. Messenger is a platform that has over 900 million users each month.

Let’s look at how 5 very different industries can win big from deploying a chatbot in any popular messaging application that their customer may use frequently.

1. E-commerce & Retail

When a company realized the need of a bot, they always have a purpose for the implementation. In case of e-commerce and retailers, it is to help customers to find quickly what they need, help them to initiate or finalize a purchase, provide fast and reliable customer support, or provide information of the shipment (even visualize it on a map), so the customer will be always up-to-date regarding the status of the package.

To offer a highly-personalized experience, some retailers came up with stylist bots that will help to find the ideal piece of clothing or some will send marketing information straight to the customer’s favorite messaging app.

For retailers, chatbots in a supply chain can help to boost supply chain visibility implementation, thus creating more efficient processes and better collaboration.

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2. Banking

When was the last time you visited a bank? Do you still remember how long it took before you got a simple thing done? Certainly, online banking has solved a lot of the problems, however, digital consumers want even more convenience. Could chatbot be the future of banking?

Imagine that you could get periodically informed about your account balance or you simply could ask the bot to check the balance for you. You could easily review your recent transactions, or initiate a new payment, get reminders about the important ones that must be made.

Additionally, banks could use their bot for marketing purposes, like sending personalized information specifically about the customer’s interest (savings, investments, trading stocks, etc.) or communication about new products and services.

New Fintech startups are already doing a great job when it comes to offering services that are easy to use. Banks must catch up and become more innovative to keep its customer retention high and stay in business.

chatbot smartphone youredi

3. Insurance

Insurance is one of the things in the world that is a must have, but finding the right insurance for your needs is not easy. It is hard to find the best deal when you look for a home, health, car, or travel insurances. Consumers want to discover the perfectly tailored offer at the lowest possible price, however, the service provider should still offer superior customer support. The number of InsurTech startups is on a rise and these companies have initiated a rapid evolution in terms of innovation. However, chatbot offers the ultimate possibility for traditional insurance providers to stay competitive.

A chatbot (a.k.a automated insurance agent) can be taught to recognize the customer’s need and offer the best match and it’s also capable of dealing with customer claims. Insurance companies can significantly reduce the time the customers need to wait for a decision. Additionally, insurance companies will need to deal with less manual processes and they will need to hire less labor force.

4. Healthcare

Healthcare systems around the world are still inefficient and lack personalization, as well as engaging with the patients has been challenging.

Chatbots are about to change the way healthcare institutions interact with their patients and it the conversation tool can healthcare to increase patient retention and loyalty.

Many googles symptoms hoping that avoiding a doctor visit would be possible. Nevertheless, certain conditions shouldn’t be neglected and some needs immediate care. Timely information is crucial for the patients, therefore utilizing the artificial intelligence of chatbot can be a good way of avoiding long waiting times at the nurse (as bots are available around-the-clock). Bots can provide patients with accurate help by finding a solution to the most common symptoms and advise when seeing an MD is necessary.

A chatbot is also the best way to automate health support, as it can send medication advice, offer a prescription refill, deliver test results, schedule appointments and send notifications, or even remind us when we need to take a pill.

Some also think that machine learning can predict diseases easier and faster than doctors thanks to the available big data.

5. Airlines

The bot can be crucial for airlines in terms of delivering highly personalized customers experience and providing excellent support. The bot can answer frequently asked questions, facilitate check in (simply over the messaging app – Facebook Messenger, Skype, WhatsApp – or any other that your customers may use), or provide flight information.

Providing information, such as flight delays or arrival times to the customers via the app they frequently use will help them to coordinate pickups and drop-offs. Sending alerts to the travelers about unexpected changes regarding the status of their flights can save them from a great amount of trouble.

The chatbot can be a crucial part of the marketing strategy of airlines: people can get immediate help, right on the go, thanks to the artificial intelligence of the conversation engine. Consequently, the brand recognition of the airline will be enhanced as well as the customer satisfaction will increase.

How could you utilize a chatbot?

When integrating a chatbot into your systems, you can provide customer support to your customers when and where they want. Our BOT can be integrated into the most popular messaging apps and platforms, such as Skype, WhatsApp, Facebook Messenger, WeChat, just to name a few. Moreover, the customer can change between the messaging apps, as he/she prefers. You won't only be able to provide immediate customer service to the most frequent questions, but you will be able to track and measure your customer service effort. After all, today a high-quality customer service can be a serious competitive advantage.

Did you know that by integrating Youredi BOT into your services you can serve your customers through the messaging apps that they prefer to use? You can learn here more about our product: 

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