Chatbots are proliferating in every industry known to humans. Almost 80 percent of businesses look forward to investing or deploy in chatbots by 2020. With penetrating adoption rate, the production and implementation of chatbots would also increase.
The interesting part is that Chatbots that come with different abilities and fulfil a different purpose in each industry. We have gathered some use cases for each industry and examples of how they have been deployed. This will help you explore and evaluate how you can use a chatbot for your industry. Chatbots are still emerging technologies and so are the use cases. Here are some use cases.
Retail and Consumer Goods
Customers keep clicking through navigation bars and travel multiple screens to just find that one product that they wish to purchase. A lot of customers abandon carts if this discovery process takes too long. Ta-da! Chatbots fix the long product discover journey for a consumer. The chatbot use cases in retail are more. This is applicable to e-commerce, in-store retailers, fashion, food, and beverages. Either physical or digital, chatbots allow consumers to access product information and make a purchase on-the-go using mobile devices.
Chatbots are a sigh of relief even for employees in the retail industry, especially for the on-field salesforce. 66 percent of their time is not spent on selling. Chatbots undo this scenario and help them focus more on sales. Chatbots assist sales personnel by seamlessly integrating with CRM, BI and LOB systems at the background and provide accurate sales data and real-time alerts. They can analyze and compute at the background to provide personalized customer information that can equip salesforce with highly localized, timely, and relevant data.
The employees of a leading soft drinks company, with operations in Great Britain (GB), Ireland, France and Brazil had a hard time fetching their sales and operations information from their OBIEEE and SAP system. To resolve this they looked for a single window solution which could reduce their time and effort to fetch high-level precise information. Lucy, a sales chatbot helped sales team to query sales and operations related metrics like Net Revenue, Stocks, Trading Contribution, etc., on-the-go.
The banking industry has been one of the early adopters of Chatbots. Some of the chatbot use cases for banking begin with personalized banking with an aim to improve customer satisfaction and engagement. Banks have enabled their customers to interact with chatbots to clarify banking queries. They can access and ask for account balance, bank statements, transfer funds, create a deposit, saving and investment advice, and so on. Bank of America introduced Erica, a chatbot for its customers to perform similar functions for them. Customer support and feedback are other areas where chatbots have taken over.
While this is on the customer-facing front, the business side of banking also uses chatbots. Chatbots also perform tasks for banks like contract review and analysis, employee engagement, IT ticketing, parse messages, and password management. We have collated a lot more detailed use cases of chatbots that can empower the banking and finance industries.
JP Morgan Chase launched COIN, a chatbot to manage its back-office operations. It can analyze complex contracts quicker and more proficient than human lawyers. The Chabot use cases in the legal industry are discovered in unimaginable ways. Legal jargon is a language of its own and piles up every day, across multiple document structures. Analyzing these documents is a time-consuming process for humans.
The inspiration for using chatbots in the legal world dates back to the creation of DoNotPay. This is a chatbot built to fight the unfair issuance of parking tickets in the United Kingdom and New York. Chatbots reduce the time to analyze with use of artificial intelligence and exponential power to process natural language.
With machine learning, chatbots have also been trained to be legal advisors for mundane and redundant queries. Legal companies have complex intranets which can now be integrated into a chatbot for a better experience. Legal firms have also started using chatbots for HR tasks such as leave application management, onboarding, and setting up notifications and reminders. You can access our full guide to the application of chatbots in the legal industry here.
For insurance buyers, confusing jargon and insurance policies have been synonymous. Traditional insurance agents have not been able to fully fill the gap of educating customers with what they are looking for. This is because of the fast-paced regulations and updates that happen within the industry. Magda is a revolutionizing chatbot in this industry which sold insurance policies online.
Chatbots in the insurance sector are taking the avatar of insurance agents, virtual hosts, analyst, insurance advisor, and other roles that can relieve humans to do far more advanced tasks.
Check out how a Canada based Insurance firm improved customer experience by leveraging an AI bot to provide personalized responses
Chatbots are changing the face of education right from personalizing education, helping people learn new languages, spaced interval learning, student feedback, professor assessment, essay scoring, acquaint a student with school culture and for administrative formalities. AdmitHub created a chatbot to help new students navigate the college transition process. Jill Watson is a chatbot that works as a teaching assistant. Duolingo, on the other hand, is a language teaching chatbot.
In fact, more and more teachers and students are independently trying to create their own chatbots by using platforms like Botcore.ai.
For hospitals and clinics, chatbots have been saving a lot of money. While one category of chatbots performs tasks for receptionists, nurses and interns, another category assists doctors with patient progress reports, checking in on post-op recoveries, assessing drug interactions, and so on. Your.MD is a chatbot used by patients and clinicians. It learns common symptoms and provides recommendations for relevant resources.
A few other advanced areas where chatbots are applied in healthcare are patient engagement, population health management and care coordination, expediting triaging patients, and research.
Manufacturing industry that has been constantly struggling with communications has found a solution. This sector is ruled by assembly lines, distributor, wholesalers, and obscure designers. To connect people and build interaction, manufacturers have fast adopted chatbots.
Vendor management and engagement, HR-related tasks, crew and workplace maintenance assistance, and product recall assistance are some of the areas where chatbots have been used in the manufacturing industry. We have provided a detailed value proposition of how chatbots can help manufacturers.
Chatbots are working towards providing better guest service experience, acting as a personal travel assistant and virtual concierge for hospitality leaders. Chatbots are available 24/7 to provide a positive experience that builds customer loyalty and satisfaction. This quality of chatbots helps the hospitality to keep pace with the rest of the world.
Travel bots used by the airline industry are deployed to send announcements, for ticketing, facilitate web check-ins, personalized search and purchases, provide flight options, and make other travel arrangements.
Oil and Gas
Exxon Mobil, a large oil and gas exploration company has used AI bots for hydrocarbon exploration and production. These bots have also helped the company in improving productivity and cost-effectiveness while reducing worker risk.
Shell, a leading British-Dutch oil and gas company has introduced an AI chatbot – LubeChat for its B2B Lubricant customers. The bot provides real-time customer support by providing information about the company products, services lubricants data etc.
While these are some industry-specific use cases, some chatbots are used in many other scenarios. Irrespective of the industry, few functions remain constant. The function that thrives and is most sought after is Sales. SIA, a sales assistant chatbot helps the sales team improve top-line revenue by helping them make informed decisions. It can be added to Skype, Slack, Yammer, O365 and other existing collaboration tools.
Another exuberant function is the IT department itself. The IT helpdesk chatbot uses machine learning to provide answers to repetitive IT support requests, thereby improving help desk response rate. MESH Bot is a Sharepoint Intranet bot that improves intranet adoption rates. HR Bots help in creating a better rapport between the organization and the employees by answering queries and improving operational efficiency.
Chatbots have a variety of use cases but it is important to find a high-yielding use case which can deliver high ROI. Should you need any help with more case studies, get in touch with us, and we will connect you to relevant experts who can share more about the use of chatbots in your industry.