Growth of Artificial Intelligence and Chatbots

Leading technological innovations has led the world to a considerable change. This change is in the term of advancements in interactions and perceptions. The biggest example of these innovations is chatbots. Chatbots are used for simulating human-like conversations with the user in a normal language so that the conversation seems real and the user feels comfortable. These chatbots are being used in various sectors to maximize development like healthcare, banking, travel, production, and many more. all these sectors have faced major changes, but this change is the biggest. Chatbots in banking industry are very useful for countless reasons. The chatbots are preferable by the customers over staff because they are reliable and less boring.

Chatbots are a feature of Artificial Intelligence which is useful for the creation of interactions with the user via texts, websites, calls, etc. These conversations are better than a conversation with a human because it is less boring as the staff provides too much information at one time. This extra information makes the user bored and hence, does not attract them for further interactions. The advantages of using Chatbots in banking and tourism industries are explained below:

• Trendier option: if you are trying to keep yourself up to date then using a chatbot is important. Emails and calls are out of date and they are very irritating. Chatbots, on the other hand, are better because they start the conversation as the customer opens the website or the banking app. It has been proven by a study that the chatbots are more convincing for the customers as they end up buying the product or a deal once they see it on the chatbot. It increases the number of deals collected by a huge deal.
• Customer service: people prefer to use the applications they already have rather than downloading new ones. That is why, banks are embedding their chatbots in the leading social media networks like Facebook, WhatsApp, Instagram, etc. to gain more profit. Chatbots provide customer service 24/7 which cannot be matched by human staff.
• Feedback collection: surveys are becoming excessively popular because of the benefits they provide like information for further improvement. The survey format in the chatbots is impressive because it attracts the user to give the survey.
• Save time and money: chatbots save the valuable time of the companies on customer service. It is a one-time investment that saves money in the future on employees for customer service.
• Tour guide: customers can have easy access to the tour guides anytime and anywhere. This is beneficial for the customers as well as for the tourism companies as they can avoid spending money on customer service staff.

Chatbot in the travel industry is profitable for the company and beneficial for the customers because it provides mutual advantages. The time and money it saves for the company and is less frustrating for the customers because the employees can end up leaking too much information at once making the customer bored and less interested in the services provided by the company.