7 Benefits of Chatbots

By the end of 2022, Gartner forecasts that 70% of customer interactions will involve technologies like chatbots, which are increasingly being adopted by companies to enhance customer service experiences. The chatbot market is expected to grow significantly, with Mordor Intelligence projecting a 34% increase from 2021 to 2026, reaching a value of $102 billion. Chatbots, powered by conversational AI, offer numerous benefits such as providing a personalized user experience, collecting user feedback, operating 24/7, handling infinite customer interactions, automating repetitive tasks, and reducing hiring costs. They also have diverse applications across industries, including education, ecommerce, telemedicine, and logistics. Implementing chatbots through ready-made API solutions like Stream can be advantageous due to their customizable features, advanced security, and fast integration capabilities. Overall, chatbots can improve user engagement and enhance the overall customer experience while offering operational efficiencies.