Top Chatbot Future Trends in 2022 and Expert Opinions on each of them
Learn the best tips, tools, and strategies on how to assist customers, collect leads, and deliver the hottest of them to sales 24/7 with chatbots
Part 4
Chatbot Future Trends and Expert Opinions on each of them
What is a bot? It’s an ambitious technology with a bright future that helps your teams perform better. What are the benefits of chatbots, and why will they become a future trend? They help marketing to capture more leads. Customer support provides the best service with them. Sales engage users better, and so on. The versatility makes chatbot technology expand like a flash.
Companies have discovered the huge future potential of conversational bots: closing simple requests to support, increasing ROI, and automating the process. So the primary trend is that companies with websites actively integrate chatbots into their tech stack.
Nowadays, bots are much more powerful than ever before, and obviously, this is just the beginning. With the emerging chatbot future trends, it’s crucial for almost any business to implement a chatbot technology. Why? To be on top and deliver the best customer service in the future.
Using a chatbot in any business process may increase customers’ satisfaction as it is available 24/7 to address customers’ needs.In this article, we will talk about what’s happening in the world of chatbots. Except for chatbot future trends, you’ll find an expert’s opinion on each of them: is this or that trend going to come to life, or is it just a conjecture?
In this article, we will talk about what’s happening in the world of chatbots. Except for chatbot future trends, you’ll find an expert’s opinion on each of them: is this or that trend going to come to life, or is it just a conjecture?
Chatbot statistics
Undoubtedly, chatbots are transforming the future trends of how businesses will communicate with their users. Here’s the data to prove it 👇
According to Business Insider Research, the chatbot’s future market size is projected to grow at a CAGR (Compound annual growth rate) of 29.7% from 2.6 billion dollars in 2019 to 9.4 billion by 2024. Retail and eCommerce verticals will grow at the highest CAGR during this period. This future trend is related to the increasing demand to provide users with a delightful customer experience and turn them into customers.
Over 50% of customers expect businesses to be open 24/7, according to the Oracle research. Chatbot’s future technologies will help live up to these expectations and cover customers’ requests round the clock.
According to Oracle research, chatbot technologies could save $174 billion across Insurance, Finance, Sales, and Customer Service.
A chatbot could save up to 30% of costs on Customer Support, according to Invesp Research.
All this data says: chatbots are the future, so we should accept it and catch up with the trends in the industry. If you still don’t use this technology, read our article on how to create a chatbot in 15 minutes.
Set up a bot? Then let’s move to the trends and predictions!
Chatbot trends and predictions in 2022
CCW Digital: 59% of CX professionals believe AI will enhance, not replace agents in the future
How to enhance the future chat experience? According to this research, there are five key objectives of great support: personalization, agent centricity, versatility, conversation quality, and security. Using these five communication trends with chatbot technologies will lead to success in the nearest future.
In this review, you will find the future trends on how disruptive technologies such as AI and chatbots can upgrade a customer service strategy. As a result, these technologies will empower you to fight off the company’s challenges.
Yes. AI cannot replace humans but will complement them in the future. The future trend is that chatbots will be more often than not only the co-pilot model will work and NOT autopilot.
CredenceResearch: exponential market growth to 2023
What do we say to the god of growth? More growth!
In this strategic research study, you’ll find in-depth insights on predictions of chatbot market growth trends of the future. This review of chatbot technology is given according to the market segmentation: by type, end-use and geography.
Accenture: 57 percent agree that conversational bots can deliver large return on investment for minimal effort
Chatbots are here to stay! That’s what this research says about chatbots’ future trends in a nutshell. Here you’ll find the data about executives’ expectations on bot technologies trends and why some companies are still not sold on bots.
Accenture surveyed 97 chief information officers and 255 chief technology officers from different industries and countries with annual revenue of at least $500 million to carry out this trends research. Slightly more than three-quarters of companies are B2C enterprises, while the remainder is B2B firms.
Community Spiceworks: How AI chatbot and intelligent assistants are used in the workplace
If you wonder how chatbots are employed in businesses today and what challenges prevent some companies from following the chatbot trend, you’re on the right way.
In this research, you will find the data on how and what companies use chatbots for. Community Spiceworks surveyed over 500 IT specialists in companies across North America and Europe on trends in this field.
Current trends on chatbots’ “areas of responsibility”. Source
for online businesses
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Juniper: Chatbot Conversations to deliver $8 billion in Cost savings by 2022
In this report, Juniper suggests another chatbot trend: they will be responsible for cost savings of over $8 billion per annum by this year. Also, the authors found out that the banking sector is most suited for chatbot technologies due to their support cases with simple requests such as “I’ve lost my card” or “I want to open a bank account.” So the trend to automation is thriving in the financial sphere.
I agree that in the future, chatbots will become a trend that will save your time if used in the right way. However, chatbots are by no means a solution that works for every problem. Customer support, for example, is a field where chatbots can free up a customer rep’s time, and therefore you need fewer workers to offer the same support experience.
This trend may not be accurate for all businesses. Still, for those who have a similar set of customer problems that arise regularly, so you can train your chatbot to handle these issues automatically.
Chatbots should become generically more efficient at identifying the intent of a user
Maybe the most important future trend is that chatbots should become more efficient at identifying a user’s intent. In this research, you’ll find out how sentiment analysis and BERT technology could empower and accelerate the development of a chatbot.
I bet for the future trend that chatbot technology will improve massively in the coming months and years. Still, organizations will need to learn and respond to how chatbots differ from more established technologies to develop and deploy them usefully.
I bet for the future trend that chatbot technology will improve massively in the coming months and years. Still, organizations will need to learn and respond to how chatbots differ from more established technologies to develop and deploy them usefully.
Gartner: By 2021, more than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development
Here you’ll find the data that proves this statement: the mobile apps as we know them will disappear in the future. “Traditional apps, which we download from a store to a mobile device, will become just one of many customer options.”
I agree that annual chatbot development and implementation investment will outpace traditional mobile app development. Here is the future trend: technology spending for us will move away from traditional mobile app development and transition to developing and implementing chatbots on both our mobile and desktop sites.
There are way too many benefits of chatbots for them not to be a primary focus moving forward, i.e., automatically handling first-level Q&A and routing prospects and customers to the proper destinations.
MIT Technology Review Insights: 90% of businesses experience quicker complaint resolution after using chatbots
According to this report, most companies who already use chatbots in customer service recorded improvements in the speed of complaint resolution. The research is based on a global survey of 600 executives worldwide.
From the user’s perspective, I’ve chatted with quite a few of them and so far always ended (after a very annoying loop) to “let’s contact a human being.” Therefore, they have only slowed down the actual support case. That’s why we have also avoided them on my SaaS startup’s pages.
How to make a first step into the chatbot world?
Future trends of chatbot technologies are challenging but promising.
Here you can find the shortlist of advice on what to do with the chatbots if you are about to start using them:
- Determine what you need a chatbot for: proactive customer support (then you might want to check out the best customer service chatbots), onboarding into new features, lead qualification, or segmentation.
- Choose your perfect bot. There are a lot of chatbot platforms with different features. Choose the one that can meet all your requirements.
- Identify an appropriate bot campaign. Next, determine the campaigns for your chatbot that will cover the requests from your customers.
- Always look for ways to improve bot’s work. To do it, you can check out chatbot best practices and implement them for your virtual assistant.
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