Chatbots (Virtual Assistants) and Artificial Intelligence both make the list as emerging technologies. According to the article, here is a brief overview of these two technologies:
- While AI is still in its elementary stages, more and more companies are investing in its potential. "...the revenue of the industry is currently a minuscule $202 million today showing that a lot more is about to happen. This is expected [to] change dramatically growth-wise, with [the] artificial intelligence industry expected to bring in over $11 billion by 2024." (ZDNet)
- From an app perspective, Virtual Assistants (or chatbots) are making a huge impact on the user interface. Consumers are now expecting this convenient, seamless channel of interacting with a company.
On one side, this is a great time for businesses, especially enterprises, to jump on board with chatbots and Artificial Intelligence. On the other hand, is important for companies to remember to provide quality bots that understand end user queries, and can intelligently interact with them. There have been many stories about companies developing these 'bots' that are not very intelligent, with major knowledge gaps. Chatbots built with sophisticated AI backing them can be leveraged as powerful tools; a one-off chatbot that provides inaccurate information or error messages will have to opposite effect, causing more frustration to customers, and fueling a negative stigma against all AI/automation.