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Chatbot Decoded: Unveiling the Secrets to Boosting Your Business

Those days are gone when you enter information into a chat and it goes offline because there’s no human to respond. Artificial intelligence has evolved and brought us closer to powerful machine intelligence. One example of this progress is the popular ‘chatbot.’

If you’ve heard this term being used a lot, you might want to learn more about it. Let’s focus on what a chatbot is and its role in our tech-driven world.

A chatbot is a computer program that uses artificial intelligence to interact with users in a natural language, typically online. It’s a visible application of AI that has gained popularity quickly. Chatbots are widely used on websites and have become an important part of consumer as well as business interactions.

According to a recent survey by HubSpot, 40% of consumers don’t mind whether chatbots or a real human helps them, as long as they get the assistance they need.

Chatbots for websites are becoming increasingly popular. You can see the scope of their use in the infographic below.

How does a chatbot work?

It works in a similar way to humans, but it’s automated.

The chatbot’s backend process is based on Natural Language Processing (NLP), just like virtual voice assistants. When a user enters text in the chat, the chatbot processes it using complex algorithms, understands the meaning, and provides an appropriate response.

The chatbots perform two main tasks: analyzing user requests and returning responses.

However, not all chatbots are the same. They can vary in complexity and intelligence depending on their purpose. You can find more information about different types of chatbots here.

To deploy a chatbot, you need to determine which type is right for you and your business. Some businesses use basic chatbots to cover their needs, while others require more advanced chatbots.

The three main types of chatbots are Custom, Smart, and Intelligent.

1. Custom Chatbot:

This is the basic type of chatbot. It presents users with buttons to click on to find the relevant answers. The user interacts with the chatbot by clicking these buttons until they get the final answer. It’s useful for supporting queries and frequently asked questions (FAQs).

2. Smart Chatbot:

This chatbot recognizes keywords typed by the user and responds accordingly. It can also handle slightly misspelled words. The algorithms can detect mistakes, correct them, or ask the user to correct them if necessary.

3. Intelligent Chatbot:

Intelligent chatbot is powered by NLP and artificial intelligence. It can adapt to human behavior and autonomously achieve a goal. This Chatbot follows a three-step process: Sense, Think, Act. It understands the user’s input, makes a decision based on existing knowledge, and acts accordingly. Intelligent chatbots are on the rise and can help businesses build their brand image, improve user experience, and provide personalized interactions.

To simplify the complexity of chatbots, let’s take the example of an online food delivery website. If you want to order a “Penne white-sauce pasta with extra chicken and mushrooms,” it might be challenging for a chatbot to understand at first. A custom chatbot would require you to click on buttons to specify your order, but it might struggle with typos. A smart chatbot would ignore the mistakes and continue the conversation, while an intelligent chatbot would understand your requirements more easily.

Chatbots offer several benefits, such as 24/7 access to information and solutions, faster response times, personalized experiences, and cost-effectiveness. They can support businesses by engaging customers, streamlining processes, and handling large volumes of interactions.

Various industries benefit from chatbots, for example retail, banking, media and entertainment, healthcare, hospitality, and e-commerce. Chatbots help these industries provide better customer service, increase efficiency, and deliver personalized experiences.

You can customize investing in chatbots for your business according to your business needs. It reduces the workload on employees and enhances customer satisfaction.

Choose the best chatbot template for your sector and customize it with Neeti Bots. It’s easy to use which allows you to stay at the forefront of business innovation. Experience the benefits of customizable conversational chatbots like Neeti Bots and be a part of the business revolution.

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