Top 5 Chatbot Future Trends That Will Boost Your Business in 2021
The chatbot industry is expanding like a flash. Chatbots are changing life, business and now it’s a part of our everyday life. Technology development, the explosion of messaging applications — chatbots are increasingly popular in business and consumption. Currently, many platforms can implement chatbots such as Facebook, Telegram, and WhatsApp, which help businesses easily take care of customers on multi-channels, save human resources, and costs while still being proactive. Supporting multiple platforms gives businesses the opportunity to better reach their target audience, and chatbots have become an essential investment for businesses today.
Chatbots in 2021 have affected our lives in a great way and will continue to influence us even more. It is no secret that the chatbot market is growing rapidly. The fact that chatbots help reduce operating costs in businesses is the most distinctive advantage. The bigger the business, the bigger the market for chatbots. In the future, chatbots may become the new standard for the customer service industry, bringing businesses to stand out and get closer to customers from new technology experiences. Read on to learn about the future of the chatbots industry and the top 5 trends that will boost your business in 2021.
Market statistics, growth scale
Chatbot technology has been around since the 1960s, but only recently, advancements in AI and machine learning make chatbots widely available and used by billions of people worldwide. Chatbots are now much more complete with developed automated actions like marketing, customer care, and payment.
By 2024, Insider Intelligence predicts that consumer retail spending through chatbots worldwide will reach $142 billion — up from just $2.8 billion in 2019. Today, consumers require 24-hour service to support areas from banking and finance to healthcare and wellness. As a result, companies are rapidly looking to develop chatbots and virtual assistants to answer questions that users may have at any time of the day.
The global chatbot market size growth by 2024. Source: Insider Intelligence
The more businesses and consumers use chatbots, the more demand for better development of chatbots, the more cost-effective it can be. In addition to acting as revenue generators, chatbots can also act as research bots or lead generation and brand awareness to save businesses money. And because chatbots can simulate human actions through AI and natural language processing, each interaction and additional piece of customer data collected improves the ability to understand user intent.
Chatbot Market Forecast & Trends
Besides taking care of customers automatically on messaging platforms, AI can also predict and statistics the number of people who click on a specific ad or click chat with bots. Chatbots also can take on the role of a research bot or funnel for potential customers, increasing customer awareness of the brand.
As more businesses and consumers use chatbots, the demand for quality chatbots will increase. Chatbot platform has helped businesses quickly deploy, easily integrate to automatically serve customers, especially in 2020 when the Covid-19 epidemic boomed, social distancing happened for a long time. So here are the main chatbot trends out there now.
Chatbots will be more human alike
Where there is a challenge — there is a problem. Most users find that the conversation with chatbot is limiting, the interaction itself is unnatural. People don’t really get the assistance they need from chatbot so 60% of chatbot users prefer to wait for a live agent (Userlike). I believe that there are several reasons why the current experience feels limiting and unnatural to most people.
According to Global Market Insights, the overall market size for chatbots worldwide will be more than $1.3 billion by 2024. Thereby, the development potential of this tool can be seen right now. Surely bots will be developed more and more intelligent to better understand the message and intent of the customer.
Currently, there are 4 main challenges facing chatbots:
- Misunderstanding of requirements — chatbots often misinterpret customer requirements and end purposes.
- Misunderstanding customer’s attitude, general atmosphere of communication — chatbot can’t understand the nuances of the conversation, which greatly affects the customer’s mood
- Executing Incorrect Commands — chatbots do not respond to any technical commands made by customers.
- Difficulty answering in conversational communication — chatbots are still incapable of understanding voices or slangs. For example, if a customer sends a content conversation that wants to be consulted or ordered, the chatbot cannot respond.
With the help of technology, artificial intelligence (AI) and natural language processing (NLP) chatbots will:
- Provide a personalized shopping experience and build a friendlier customer relationship
- Improve the experience and drive customer loyalty with your brand.
- Positive impact on customer perception.
Corporate landscape leading chatbots industry
The chatbot ecosystem is rapidly expanding at a rate of 34.75% annually despite other competitive trends. More and more large companies continue to claim to support chatbots in their businesses, such as LinkedIn, Starbucks, British Airways, and eBay. Key players in the chatbot industry, such as Facebook, Google and Microsoft have invested in the development of chatbot technology for many years and continue to work on major chatbot projects.
The rise of chatbot usage has created a huge number of tech startups to follow in their footsteps in a variety of industries. Chatbot startups like 13chats have very strong potential to revolutionize the industry.
Chatbots are growing on the back of increasing consumer demand for a 24/7 digital experience. Chatbot architecture and design will evolve to the point where interactive AI will become the standard for customer service. Big tech companies are pushing themselves to the forefront of retail, banking, and healthcare with the rise of chatbots and cutting-edge machine learning.
Accessibility for novice developers
Certainly, online businesses, local designers, or restaurants need to have stable online support. The impressive advantage of chatbots is their simplicity because today’s most common chatbots work through pre-programmed data. Built-in scenarios are often used to answer frequently asked questions according to scripts or available databases. Carefully structured scenarios will include scripted responses to answer during a live chat with a visitor.
Chatbot platforms that offer this service are working to improve the accessibility and ease up the building process for non-developers. With 13chats, you can create a free chatbot for your business within 1-2 days. You don’t have to be a software developer or conversation designer, 13chats’ interface was made for business owners to be in control and save up on hiring costs.
Voice and video to become mainstream in 2021
The world is turning to voice and video. I have no doubt that Covid was the catalyst. 535% increase in video conferencing daily traffic. Perhaps, this movement started even before and yet chatbots are left behind in the video conferencing sphere. The experience of having a chatbot in the video can be really unique. And the absurdity is so big that even Zoom, the leading platform which basically defines the category, only offers an API for building textual chatbots.
The experience in Zoom, having a video call with multiple parties lets you engage with the other participants via voice and video. Every time you want to interact with the chatbot, you need to go to the chat window and type something. Then the same goes for all the other leading video platforms, some of them completely missing any API for building chatbot in general but even those are only proposing textual chatbot API.
Predicting customer behavior
The purpose of the chatbot is to support and answer customers based on pre-established keywords and scenarios. Thanks to the achievements of artificial intelligence, chatbots in the future will store customer data for analysis. This tool can “learn” and you can “teach” the bot to its full potential, conversing with customers more naturally. For example: delivery, price, rates — chatbot can create message chains that will be triggered in response to inform the support team.
Moreover, with the chatbot built on an AI platform, customers can completely teach the chatbot from the history of daily communication with customers to train the chatbot to recognize customer questions well. Therefore, AI chatbots are often chosen by businesses and large corporations to invest for sustainable development in the future.
Major features in the rise of integrations and APIs
The rise of API and eCommerce API integration are getting more attention with SaaS app vendors needing to be able to connect their systems with API’s of multiple shopping platforms. Why is it so necessary to provide? That is because without the API integration with shopping platforms, it is impossible to retrieve, add, delete and synchronize the data from e-stores built on them.
To better understand what API is, imagine you are sitting in a restaurant, in front of you is the menu to order food. The kitchen is part of the “system” where the food you order will be prepared. However, how does the kitchen know what you want to eat? And how do they deliver the food to your table? This is where the server comes in, acting as an API. The server (or API) will take your request and tell the kitchen (system) what to do. The waiter will then give you feedback, in this case, they will bring the food after the kitchen is complete to your table.
API or application programming interface is an intermediary method that connects different applications and libraries. It provides access to a set of commonly used functions, from which data can be exchanged between applications. Sometimes people still think that API is a programming language, but in fact, APIs are just normal functions or procedures.
These functions are written in many different programming languages. The main advantage of APIs is that developers can add particular functionality to their applications eliminating the need to write all of the code by themselves. Also API’s work as a messenger delivering a request to the other app and then coming back with an answer. Usage of API allows developers to get access to the data from the other applications and software and use it for their purposes. A well developed API allows the system to communicate with one another quickly and reliably without any loss of data.
Consider Our Company Your Trusted Partner
13chats is an all-in-one platform to create chatbots across channels and launch conversational chatbots without coding. The best go-to chatbot platform gives you the flexibility you need for your customer support team. 13chats allows just creating a chatbot and letting the bot take care of the customer support. 13chats is a one in all software that lets you develop fully operating chatbots for any type of business and sales.
You can use chatbot on different platforms and channels using one click integration with Facebook messenger and live chat solutions or simply use a smart widget. Moreover, you can just create your conversations utilizing a drag and drop interface as well as link it with a communication channel. Chatbots can boost your sales and also enhance consumer satisfaction with instant responses including Facebook messenger.
In the past and now, 13chats continue partnership with SportPass, a company from Czech Republic. We developed a live chat for their landing page and inside their personal account. Our aim was to decrease the time of the support team to reply to customers. Another successful project we got a chance to collaborate with Marble teams all the way from Finland. Similar installations like SportPass, we increased the conversation rate on their website by 20%.
We got a lot of interest from the participants at the IT world conference in Lisbon in 2019, after a successful introduction about our company to the event’s participants. Over 100 people subscribed to our chatbot, 40 of which proceeded to book a 13chats demo. We keep in touch with the rest of the subscribers. At 13chats we are constantly working to improve our service and stay ahead of the curve with the latest innovation. By choosing 13chats you will have access to all the biggest business tools. Sign up for a free basic plan to test all features you need to start using chatbot for your business.
Subsequently, Facebook is reportedly planning to add Instagram to the company’s Messenger API platform, allowing businesses to create chatbots that automatically respond to customer messages. Not only messages in Direct Message, but interactions from Stories or Shops will also be recorded and processed completely automatically, of course with pre-programmed.
Furthermore, users can later integrate Instagram into the customer management system, thereby quickly recording their order history and messages. In fact, this feature was present and put into use many years ago on Facebook’s Messenger platform and proved extremely effective. This summer we are going to be one of the first services to introduce these communication channels.
As of 2019, there are billions of Instagram users globally, with tens of millions of businesses operating on the platform. So, adding Instagram to the Messenger API platform will enable businesses or brands to better operate in customer relations and sales. Chatbots are growing on the back of increasing consumer demand for a 24/7 digital experience. In the future, chatbots may become the new standard for the customer service industry, bringing businesses to stand out and get closer to customers from new technology experiences.
Book a demo, and our marketer Nick will walk you through 13chats coolest features and reasons to integrate a live chat to your business! Happy chatbotting!