Chatbot Relevance

Goals

To obtain 5 stats about chatbot relevance in the next 3-5 years. Specifically to get statistics and insights that surround One: why are chatbots relevant now, how are they being used, and how many companies use them. Then additionally, Two: why are chatbots relevant for the future, and what is the expected return on investment of using them in a business instead of a traditional agent approach. Hypothetical examples of trends/insights/statistics could include (but not be limited to): companies are increasingly using chatbots, chatbots are replacing traditional agent-customer relationships, people have expectations for how quickly they can get feedback about questions they have. (In other words, a few seconds from a chatbot, 24/7, instead of taking a while when working with someone over the phone). The ideal response would have good source integrity from credible and reliable sources.

Early Findings

  • In 2018 alone, chatbots already had evolved to be more intelligent and more human than ever before.
  • Due to the successful adoption of chatbots by the end user, more and more bots are being incorporated with advanced artificial intelligence technologies, and 80% of businesses are planning to deploy some type of chatbot by 2020.
  • It appears that the majority of people don’t worry about talking to a robot rather than an actual person (in fact, 63% of people would consider messaging a bot to communicate with a company), and it’s no surprise that the future of these platforms looks very promising.
  • Gartner states that by the year 2021, 50% of enterprise companies will spend more on bots and chatbot creation than they will on traditional mobile app development. Also, by the year 2021, Gartner reports that “conversational AI-first” user experience, or CUX, will be adopted by most enterprise organizations.
  • Juniper Research, has said that chatbots are expected to help cut business costs by $8 billion dollars by the year 2022. It’s predicted that bots will begin to be used in more online spaces, such as CRMs, intranet, and IT help desks.
  • According to Accenture, chatbots are here to stay. "According to research by Accenture (see “About the Research”) CIOs and CTOs around the world believe conversational bots will play a critical role in the enterprise architecture of the future—and have the potential to make a huge impact on a company’s operations."
  • The consumer shift towards chatbots presents a huge opportunity for businesses. Seizing that opportunity will require the use of chatbots. Analysis from Credence Research projects that the chatbot market is on the verge of exponential growth.
  • Nienke” is the “virtual host” of Nationale-Nederlanden, one of the leading insurers in Holland. First deployed in 2011, Nienke answers user questions and provides links with answers to other common questions based on the original query.
  • GEICO’s “Kate” was launched in early 2017. Kate is a smartphone app who can converse with users through text or voice recognition. She can answer customer questions about balances and payment dates and retrieve documents.
  • A survey by market research company ORC International of more than a thousand Americans found a significant generational gap when it came to the understanding and acceptance of chatbots.
  • In all generational categories, most consumers are relatively bullish on what chatbots can do, when, and how. This became clear in a 2018 research project that surveyed more than 1000 adults in the USA, aged 18 to 64, balanced by age and gender. The survey sampling was provided by SurveyMonkey Audience, and the study itself was written and conducted by Drift, Salesforce, and myclever. You may download a copy of the entire study here. No email address is required.
  • In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address the stated goals.

Summary Of Our Early Findings Relevant To The Goals

  • In our first hour of research we were able to provide over 11 statistics, insights, and data surrounding chatbot relevance currently, and into the future.
  • In our first hour of research, we also provided two examples of companies that are already using chatbots successfully.
  • We made sure that we used highly credible sources like Gartner, Accenture and ORC International. If we read a blog with a statistic, we tracked down that stat, rather than citing the blog itself.
  • We assumed a global focus while researching with a heavy focus on the United States. If another focus is required or a more targeted approach is needed, that would have to be clearly communicated to us in any reply.
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Proposed next steps:

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