Increasingly executives are looking at chatbots to improve everything from how their organization can deliver improved customer service to increasing enterprise efficiency. By 2020, the research company, Gartner, estimates that chatbots will handle 85% of the customer service interaction. Meanwhile, Juniper Research projects that chatbots will contribute to more than $8 billion in annual cost savings in 2022 – a staggering increase from the $20 million savings they estimated in 2017.
However, despite this growth, most customer service interactions today can’t be fully completed just by a bot. In banking, the “success rate” is just 20%. This is also reflected by Gartner’s research, which states that virtual assistants will still require 2-5 years to reach what they call the “plateau of productivity”.
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