Chatbots are the most widely used form of artificial intelligence (AI), and experts predict the chatbot market size will grow from $396.2 million in 2019 to $1,953 million by 2027.
Why? Companies recognize the multitude of benefits chatbots offer. From collecting information, qualifying leads, booking meetings, handling support tickets, answering low-level questions, streamlining sales, and more, there’s a lot a chatbot can do for your company.
What’s even more fascinating about the capabilities of a chatbot? They keep growing. Businesses and people find new ways to utilize them, and trends emerge. Ready to see how you can implement a chatbot for your team? Check out some of the biggest trends and use cases we’re following in 2024.
AI is Getting Smarter
The AI behind chatbots is only getting smarter. Every conversation your bot has with customers makes them savvier in business transactions. Leverage the information they collect in future customer interactions to anticipate and meet needs or demands. You could even build a content strategy based on questions people are asking your bot.
Chatbot intelligence also covers how bots chat with humans — you almost can’t tell they’re robots. See below.
Providing an Empathic or Human-Like Experience
Chatbots that use natural language processing (NLP) and similar AI can intelligently understand the conversation and its intent. How? They use AI to understand the nuances of human dialogue, dialects, and language to execute accurate commands and respond in a human-like manner.
If your chatbot doesn’t have NLP capabilities, you can still make it feel like a person is having a natural conversation. Focus on:
- Writing enticing welcome messages
- Having compelling, opened-ended questions
- Responding to technical commands
- Carefully crafting your task flows
- Continuously training and updating your bot
Other AI functionality can also improve your customer’s experience and make it feel more genuine or emphatic. AI-powered bots learn with every interaction, helping them to provide better assistance and help your business better understand customer behavior. Ultimately, your chatbot’s results will be stronger overall.
Voice Assistants Are Here to Stay
At the end of 2021, we said to keep an eye on voice usage in chatbots. This trend has proven true. In 2020, Juniper Research predicted that consumers would interact with voice assistants or bots on more than 8.4 billion devices by this year in 2024.
Specific chatbots utilize AI to assist with text and voice. They synthesize human speech to communicate with your leads and customers and route the data they receive back into your CRM or other platforms — think Siri or Alexa.
If you have a large customer base or generate a ton of leads routinely, a voice bot may be a perfect solution. They’re accessible anytime, many consumers still like talking to someone or something, and many can be integrated with other services. What’s more, voice bots allow for personalization that reduces problems faced while dealing with customer requirements.
More banks and other financial institutions are starting to implement payment options within their chatbots. But this trend isn’t only limited to these industries. Any organization that utilizes e-commerce to pay for its goods or services can incorporate payment options into its chatbots.
Your bot can be equipped with the API of your chosen payment system, and whenever there is an occasion for payment, the bot can send a request to the API, then provide a link for payment. This trend helps automate simple payments and allows users to make payments without leaving their conversations. It’s also cost-effective and improves customer satisfaction.
Consider using your chatbot for upsell or cross-sell opportunities, too.
Simplifying Recruiting and HR
Thinking about posting a job opening to your website or LinkedIn, but don’t have the time to properly weed through your candidates? A chatbot can help. A recruiting chatbot can filter candidates out, schedule them for interviews that work with your schedule, and answer basic questions. By doing this, it helps speed up the entire process while ensuring a consistent response to each and every person.
You can still use chatbots after you’ve hired your new employee, too! Your company can also use it for a variety of internal purposes — a trend that’s emerging as larger organizations with huge workforces uncover more use cases.
Other ways to use chatbots internally:
- Human resources bots can simplify and personalize HR processes like recruitment, onboarding, and employee training. You can even instantly respond to employee queries.
- Sales and marketing bots will automatically book meetings and calls and provide contextual responses to customer queries.
- Workplace bots can be used as project managers. This will make employees more productive and efficient.
- Content search bots will give users personalized recommendations, sales support, product information, instant file searches, and more.
If you offer goods and services across the globe, a chatbot with multilingual capabilities will come in handy. After all, a chatbot is only helpful if you can understand its language, right? Chatbots with multilingual capabilities will instantly earn a positive reaction and increase customer satisfaction scores.
Multilingual chatbots that use NLP are equipped to identify a user’s language or even use an IP address to find the geographic location of your user.
Replacing Forms for Lead Generation
If you’ve struggled to get online visitors to complete your contact forms, chatbots could help. Some companies have already turned to chatbots to get their users to sign up for various things, like downloaded content or demos.
While web forms can sometimes be too long and have too many questions, chatbots are intelligent and initiate engaging conversations — which helps with conversion. Additionally, many chatbot platforms let you provide predefined answers to questions in the form of buttons, which are easy to click on and keep the conversation moving.
Last Chatbot Thoughts
These are just some trends we think will be big in the chatbot landscape in 2024. With the versatility of chatbots, there’s no denying that there are likely other trends of use cases out there we haven’t considered yet! If you want to brainstorm any other ways to use chatbots for your company, reach out to our team.