Before discussing Chatbot business idea, let us understand first of all about the Chatbot. Chatbot or virtual assistant is something which is in fashion lately. It is being widely used in companies, banks etc. It is generally a platform for an interaction between human and computer. There are basically two types of chatbots, A special purpose ones, and multipurpose ones. The special purpose ones are those for specific services such as in banks. The multipurpose ones are for almost every type of service.
The concept of Chatbot
The Chatbot is a chatting interface where an artificial intelligence and human interaction happens. The chatbot is designed or programmed to generate natural replies to the questions of the human. There are different ways through which chatbot generates answers.
It makes use of the already fed answers.
Apart from that, it makes use of various sources.
It can also make use of the internet.
The Chatbots are available in different forms such as,
- Mobile apps
- Message application
How does it work?
The reason why Chatbots are a success is that their almost accurate responsiveness. There are two major actors in the usage of a Chatbot, which are, the user’s request and the AI’s response.
To generate the correct response, it is very important to analyze the user’s request. If the software will not understand the question then there is no chance that it can provide a proper desirable response.
Types of services expected from Chatbots
Special purpose Chatbots
They are the ones generally used in banks. To resolve certain simple queries of a customer, such interactive AIs are designed. They provide answers to questions like;
- Account opening details
- Loan application details
- Nearest branch
- Nearest ATM
- Rules and regulations
- Taking service requests
Such AI interfaces provide various services like;
- Providing NEWS
- Weather reports
- Reading emails
- Typing messages or emails on dictation
- Playing song
- Opening websites or apps on command
How it can be a good business idea?
The aspiring entrepreneurs who already have a great knowledge about mobile app development or website development can enhance their knowledge some more to create an AI application which is capable to provide answers on demand.
Some of the ideas which you can use to develop your Chatbot to introduce in the market are
- Shopping Chatbot- An AI that can take the user to the right e-commerce website which where he/she can get the high star rating product at comparatively cheaper cost. Many a time we keep switching between multiple websites just to get the right product at the right price. How about a Chatbot doing that for us?
- Travelling Chatbot- An AI that makes use of the internet to give all the answers to the questions that one has before leaving for a vacation trip. Questions such as weather, ticket booking best hotels, best restaurant, the best time to visit and every other important detail.
- Timetable manager- An AI in the form of a personal secretary to whom you give your entire schedule of the day and let it make sure that things happen accordingly.
- Interview practice app- Basically what we chat with an AI? It is mostly a question and answer. You asking and the other answers. But how about the other way round? A chatbot with all preprogrammed generic questions asked in an interview along with the information of ideal answers to that questions. One can make use of it to practice for the job interview.
- Expenses manager- A Chatbot which can make all your bill payments, money transfers, Movie tickets booking, train/flight booking and making a reservation at a diner just by the command of your voice. Apart from that, it also does the analysis of your spending behaviors to guide you on monitoring it and saving some more.