How chatbots and virtual assistants are helping to create powerful digital experiences

Introduction: Chatbots and virtual assistants will see explosive growth in next 5 years

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”.

In this whitepaper we will review:

• The rudimentary nature of today’s chatbots
• It’s all about conversation…but your customers don’t want to chat
• Chatbots in finance – executives see their potential in producing better customer experiences
• Leading financial organizations are having success with virtual assistants
• The spectrum of sophistication of virtual assistants
• 5 key success factors to achieve success with bots
• Building chatbots based on IBM Watson

Download here the full whitepaper to continue reading