Chatbots: What is a Chatbot? Why are Chatbots Important?


Recently, new tools designed to simplify the interaction between humans and computers have hit the market: Chatbots or Virtual Assistants. In banking, chatbots and virtual assistants are a number of the industry’s newest tools designed to simplify the interaction between humans and computers.

What is a Chatbot?

A chatbot is a man-made intelligence (AI) software which will simulate a conversation (or a chat) with a user in tongue through messaging applications, websites, mobile apps or through the phone.

Why are chatbots important? A chatbot is usually described together of the foremost advanced and promising expressions of interaction between humans and machines. However, from a technological point of view, a chatbot only represents the natural evolution of an issue Answering system leveraging tongue Processing (NLP). Formulating responses to questions in the tongue is one among the foremost typical samples of tongue Processing applied in various enterprises’ end-use applications.

Behind the scenes: How Chatbots work?

There are two different tasks at the core of a chatbot:
1) User request analysis
2) Returning the response

How Chatbot Works


1) User request analysis: this is often the primary task that a chatbot performs. It analyses the user’s request to spot the user intent and to extract relevant entities.

How Chatbot Works

The ability to spot the user’s intent and extract data and relevant entities contained within the user’s request is that the first condition and therefore the most relevant step at the core of a chatbot: If you’re unable to properly understand the user’s request, you won’t be ready to provide the right answer.

2) Returning the response: once the user’s intent has been identified, the chatbot must provide the foremost appropriate response for the user’s request. the solution may be:

• a generic and predefined text

• a text retrieved from a knowledge domain that contains different answers

• a contextualized piece of data supported data the user has provided

• data stored in enterprise systems

• the results of an action that the chatbot performed by interacting with one or more backend application

• a disambiguating question that helps the chatbot to properly understand the user’s request


Why are Chatbots important?

Chatbot applications streamline interactions between people and services, enhancing customer experience. At an equivalent time, they provide companies with new opportunities to enhance the purchaser’s engagement process and operational efficiency by reducing the standard cost of customer service.

To achieve success, a chatbot solution should be ready to effectively perform both of those tasks. Human support plays a key role here: no matter the type of approach and therefore the platform, human intervention is crucial in configuring, training and optimizing the chatbot system.

Which Chatbot application is right for you?

There are different approaches and tools that you simply can use to develop a chatbot. Relying on the use case you’d wish to affect, some chatbot technologies are more appropriate than others. So, to realize the required results, the mixture of varied AI forms like tongue processing, machine learning and semantic understanding could even be the only option.

Some Examples for the better understandability of the Chatbots:

  1.  Swelly

Swelly is perhaps the foremost famous Facebook Messenger chatbot. It allows users to select and choose one among two options, and vote alongside the overall public. Users also can create their ‘Swell’ and see what the people around the world will vote for.

Swelly has been employed by a staggering number of individuals from around the world – quite 1 million. It’s because it’s a really strong virality component thereto.

  1. eBay

The eBay chatbot is the most advanced ecommerce chatbot out there. And is additionally the foremost used! it’s built for the Google Assistant, which suggests that you simply can use it together with your Google Home or on your phone. you’ll ask him to shop for anything within the world, at a really low price. It’s impressive, especially if you think about the size of eBay.

The voice-only interface is designed beautifully. It allows you to navigate across a very high number of product categories.

You can try this chatbot out by saying “Ok Google, let me talk with Ebay”


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