Chatbots are softwares developed using artificial intelligence which have very strong algorithms giving them the ability to converse or chat just like a human. These chatbots are used by businesses in order to provide a better customer experience. The global chatbot market has grown rapidly across the world in the past few years. Big tech companies and even small start ups are now implementing this program in their business. In the upcoming years, this market is expected to boom remarkably. The growth is expected to be between a Compound Aggregate Growth Rate ( CAGR) of 22.5%. This growth is expected to happen between a span of 7 years that is 2020 to 2027. The valuation of the global chatbot market was earlier worth 396.2 million USD in the year 2019. The valuation is expected to grow further with the growth of the market to a massive 1,953.3 million USD by the year 2027.
Now let us have a look at some of the top Chatbot platforms present in the market.
ProProfs Chat : This program was developed keeping in mind the need of businesses wanting real time sales and service for their domains. This is very readily available. To use this program , having a core knowledge of coding is not a criteria. This program helps companies create personalized chatbots for better client interaction, greeting clients, sending invites etc
MobileMonkey : This is both for the tech-based and non-tech based firms. MobileMonkey’s simple interface makes it beginner friendly. It has the ability to memorize and analyze a client’s conversation and then use it for future responses from the chatbot.
EBI.AI : This AI platform is a free domain available for its clients to create personalized chatbots The assistant helps in tasks such as booking tickets,planning a travel trip and even finding recipes. With interactive voice assistance and chatting, EBI.AI sets its platform apart from other players in the market. The company provides an offer of first two weeks free for use as a demo version for clients.
Avio : This company has earned its name in the market over the years for its accuracy , efficiency and client management. Avio was launched by a board of entrepreneurs in Argentina. The company aimed to revolutionize the interaction of businesses with their clients. With its successful AI powered chatbots, Avio has established its name and is now one of the biggest and the most successful companies in the market. Since 2018, the company has established its office in over 9 countries and have over 120 million interactions in over 5 international languages. Some of the company’s top clients include Uber , LG , Visa and General Motors.
ItsAlive : This company is a French start up which over the years , has established itself as one of the top Facebook Messenger AI Chatbots. The software analyses conversations and answers queries directly via chatbots. Thus, saving a lot of time. The consumer also has an option to transfer the conversation to a person whenever they want to . ItsAlive’s services prove to be value for money for its clients along with being a great time saver. With the Chatbot market growing in the world, businesses are indeed saving a lot of time and money. The businesses are now able to deliver a better and more interactive experience to their clients. With rapid innovation these chatbot platforms will soon be a better mimic of human interactions. The latest innovations for chatbots are completely based on NLP (Natural Language Processing). It can be foreseen that the chatbots will revolutionize the entire customer experiences scenario for businesses in all verticals in near future.
Author- Toshank Bhardwaj, AI Content Creator
