Artificial intelligence is becoming increasingly popular. More and more businesses are adopting AI approaches and implementing the use cases that are efficient enough, the global revenue of AI solutions is estimated to reach the mark of 118.6 billion dollars by 2025. Serving customers and businesses with the best experience and services worldwide, AI approaches are rapidly replacing the traditional approaches and decreasing the requirement for humans to perform certain redundant tasks.
One of the most popularly known and used concepts of AI (Artificial Intelligence) is chatbots. Chatbots are built to serve the customers by answering their queries efficiently and on time without needing a human from the business side. The chatbots can be used to reply via texting or using the audio to answer the questions efficiently. This reduces the burden of answering customer queries by efficiently providing answers to every question no matter what hour of the day it is.
It works by analyzing the available training data sets and according to the outputs received, an appropriate response is generated for users. Working proficiency of these chatbots has increased to a great extent and it has become almost difficult to distinguish between human response or boat response. Increased standards of chatbots benefit the businesses also.
Most of the industries are benefiting by using technology by their side and on-demand businesses are the ones that top this particular chart by increasing their reach easily. As the competition is becoming fierce by every passing day, businesses are required to introduce something unique in the business that helps them distinguish themselves from others.
The ride-hailing industry has always been the one being driven by technological changes. The introduction of different approaches that can enhance the user experience leads to the growth of the ride-hailing industry and the implementation of the latest technology drives customers towards it every single time.
The research by Statista shows the global revenue of the ride-hailing industry has crossed the 153,591 million dollars of 2018 by raising it to 183,677 million dollars in 2019. Moreover, the annual growth rate of the revenue is predicted to be 14.8% which will result in 318,765 million dollars earning by 2023. The introduction of newer technology that can help the ride-hailing businesses acquire success by guaranteeing excellent services to customers is the primary reason behind this amazing growth.
Chatbots provide the customers the convenience to reach out to businesses anytime easily. The introduction of the sharing economy has raised the requirement for excellent customer support. Providing most of the services on a tap of a button through a mobile device always raises queries of customers as the service provider’s identity is not known. Connecting a different base of customers and service providers together requires the business to be extra careful and serve to a customer’s demands.
Chatbots can serve to these business requirements efficiently. Enabling businesses to communicate with their customers anytime, chatbots provide the answers to customers’ queries and eliminate the need for human assistance. The experience offered by the chatbot is personalized and tailored to customers’ choices and queries.
The importance of conversation in the ride-hailing industry is high. Riders and drivers are completely strangers and hence the stakes for misunderstandings are high. Therefore, to avoid such confusing situations, it is necessary to keep them conversing and solve doubts on time. As chatbots are great at keeping the conversation alive, they can be used essentially to let the riders and drivers stay in touch even if the driver is on their way to a rider’s location.
Notifying the customers about a driver’s status once their ride request has been accepted, a chatbot can also answer the queries of customers with the data it has been trained with. It enhances the user experience and leaves a great impression on customers with solving doubts within a snap. Artificial intelligence can help the business emerge in the competitive market by helping them deliver excellent customer experience and allowing them to know their customers better than before.
How to engage more users without having to contact them at all? Offering your services when they require it the most turns many customers towards extensive use of services a business provides. And chatbots can help you out with that. Using a chatbot that understands the queries and suggests appropriate solutions to users helps you engage more customers by providing them regular updates and suggesting what is best.
The continuous evolution in the field of chatbots keep delivering emerged bots that can take up and complete the tasks efficiently. Increased operation speed is one of the features of the chatbots that have been developed for serving users with them reaching out for cab services by placing a message only. The chatbot ensures the user-provided message is read clearly and the address mentioned is appropriate.
Using the support from APIs, it then completes the address if required to provide better navigation facility to drivers. Offering such excellent functionalities, chatbots do increase the pace with delivering the best services for ride-hailing businesses. They can offer an easier ride booking through a chatbot functioning on a social media network to enhance the experience provided. And as a survey by Oracle states, 80% of businesses worldwide look forward to integrating a chatbot in their business by 2020.
Chatbots are helping companies save as much as 29% on the spendings of their customer services. As the survey by IBM suggests, customers are more likely to use customer services online than asking the in-staff by calling or meeting them personally. The millennial generation of today believes in getting their tasks done faster than ever, which leads to the rise of the on-demand economy.
Ride-hailing businesses can seamlessly integrate a chatbot on their website to welcome the incoming queries and complaints of their users and efficiently cater to their needs. Delivering a solution to their problems can be left off to the bot to handle while the businesses can continue improving their performance and deliver excellent services. As the chatbots reduce the amount spent after hiring and managing staff and their salaries, it poses as a cost-effective option that can save 23 billion dollars of annual salaries.
Mobile applications are used by every smartphone user everywhere. According to Techcrunch, an average smartphone user uses at least 9 applications on a daily basis. The increasing popularity of mobile applications has been driving many businesses to success and ride-hailing business ranks among the leading businesses that have put mobile applications to their best use.
Well, chatbots can improve mobile app experiences. Integrating a chatbot in ride-hailing mobile applications can deliver more benefits by allowing users to place their queries directly through the mobile app. Many businesses have been using the app solution readily available in the market which is named uber clone and offer the best services to riders. These businesses can opt to ask their developers to integrate a chatbot or purchase one from the market which comes ready with code that is just required to be integrated into the existing app solution.
Businesses can choose to offer chatbots as assistants also. Integrating a chatbot on their website and mobile application, they can choose to provide an assistant to their users. The customers can ask their doubts and also can be notified of the ride details easily. They can also choose to contact drivers through the bot. Hence, chatbots can serve many purposes at once if integrated into the system and using artificial intelligence, chatbots collect and analyze data to improve the results provided.
Delivering excellent results to businesses, chatbots are increasingly taking over the market where businesses are choosing to switch to chatbots. Apart from providing personalized and customer-dedicated experience, chatbots do not get tired of the incoming questions and keep answering them and keep learning more about customer behavior to increase efficiency.
Hence, chatbots not only provide answers but they also learn many things about a particular customer and their behavior to serve them excellently. The businesses opting to shift their customer service approaches to chatbots are saving 15 billion dollars of salaries annually which includes the salaries of sales executives and customer relationship experts. Chatbots ask for lesser investment and provide a higher return by assuring to increase customer interaction and excellent results.
The key is, start slow and collect more feedback (questions!) from customers to find out the ones that are asked frequently and prepare the answers to direct chatbots and provide answers for the questions when raised later.
Chatbots can keep learning throughout the time when they are still serving your customers by using the data collected to assume the next reply and increase the work speed. Chatbots are developed and deployed to unburden the executives from answering redundant questions that they have been doing for years and increases productivity.