Artificial intelligence (AI) chatbot systems allow retailers to connect with shoppers 24/7 and increase popularity amongst consumers and businesses alike. Because chatbots can simulate human agents via AI and natural language processing, each interaction and individual pieces of collected customer data helps to improve their ability to understand users’ intent. The more successful chatbots are those that can maintain quality conversational experiences that mimic human agents.
More and more large companies have continued to announce their support for chatbots within their own business, such as LinkedIn, Starbucks, British Airways, and eBay. For years, key players within the chatbot industry, such as Facebook, Google, and Microsoft, have been investing in the development of chatbot technologies and continue to work on major chatbot projects.
Insider Intelligence predicts that consumer retail spending via chatbots worldwide will reach $142 billion by 2024, up from just $2.8 billion in 2019.