Fintech Chatbots Benefits & Use Cases for 2023

Doing so will alienate visitors by leaving the impression that the business is desperate, which can be a big turnoff. Companies who want to collect more information about their leads can use this chatbot use case as well. All they have to do is pre-design a chatbot to ask multiple-choice questions and respond with new questions based on the previous answers given by visitors.

That’s a terrible number for energy producers, but an even worse statistic for consumers, who end up bearing the brunt of those costs. If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It’s also easy to share a link to an article you’ve liked or an industry resource that you think would be helpful. The Energy Central Power Industry Network® is based on one core idea – power industry professionals helping each other and advancing the industry by sharing and learning from each other. However, in order to reap the benefits, utilities must use the right implementation approach.

Account management

For example, what once took days to manually sort applications can now be accomplished in hours with a chatbot’s precision. This acceleration not only streamlines HR workflows but also significantly reduces the time to hire, enhancing the overall efficiency of HR operations. Recognizing that a healthy and content workforce is a strategic asset, HR practices are increasingly prioritizing employee well-being.

For example, if your patient is using the medication reminder already, you can add a symptom check for each of the reminders. So, for diabetic treatment, the chatbot can ask if the patient had any symptoms during the day. And for pain medication, the bot can display a pain level scale and ask how much pain the patient is in at the moment of fulfilling the survey. A lot of patients have trouble with taking medication as prescribed because they forget or lose the track of time.

Bots help to place online orders

34% of customers returned to the business within 30 days after iterating with the bot. The second commonly visible application of chatbots is evident in the case of food delivery. Notable names such as Pizza Hut and KFC use chatbots for allowing customers to place orders through a conversation. In addition, the applications of chatbots with a twist in the case of Taco Bell show the potential for tailoring the implementation of chatbots to ensure the best possible customer experience. The Taco Bell chatbot or TacoBot can use emojis in the responses and crack jokes alongside answering trivia questions. These elements in chatbots can improve the association of a customer with a specific brand.

• HR chatbots simplify the employee referral process, making it more efficient and engaging.
• HR departments may gain valuable insights into employee requirements and trends by using them to log interactions and collect data on employee questions and complaints.
• Once you choose your chatbot and set it up, make sure to check all the features the bot offers.
• They gather and process information while interacting with the user and increase the level of personalization.

Also, it can advise on ways to cut household costs, for example, by installing smart home energy-saving devices. Consumers often don’t know how easily they can reduce utility costs with simple routines or tips. Thanks to the in-depth analysis of customers’ accounts, a chatbot could recommend moving certain activities to off-peak hours. It reduces the client’s bill while also decreasing strain on the energy grid.

As a result, companies and businesses can start utilizing chatbot use cases to their full potential, thus reducing their operational costs and increasing their sales. All this, in the end, will show a significant positive result in the net revenues and profits of the company. When a customer buys a product from a business/company, one should not consider it the end of a transaction – but rather the start of a relationship. That’s because, according to HBR, more than 70% of customers are interested in hearing from retailers after they make a purchase, especially if they provide personalized content. Most businesses cannot ask a first-time visitor to buy their products and services.

According to The Live Chat Benchmark Report 2019, live chat is highly responsible for achieving better customer satisfaction ratings. Live chat is interactively conversational and fast with the functionalities of chatbots. So, it is clearly evident that the applications of chatbots can gain prominence on the basis of these factors. This includes online chat via your website and mobile apps and other social media channels.

This involves transparently articulating the reasons behind the changes, emphasizing the benefits for employees, and actively involving them in the process. Clear communication, coupled with ongoing dialogue and support structures, helps employees navigate and embrace the changes more seamlessly. To counter this, organizations must prioritize clear and consistent communication.

For instance, they can manage leave requests, provide employees with information on leave balances and policies, and process leave applications. This automation not only saves time but also ensures transparency and fairness in leave management. They provide preliminary assessments, answer general health queries, and facilitate virtual consultations. This support is especially important in remote areas or for patients who have difficulty accessing traditional healthcare services, making healthcare more inclusive and accessible.

The popularity of hybrid chatbots is on the rise, particularly in customer support engagements, and this upward trend is expected to continue. Now, it’s more evident than ever that a utility company should consider including conversational AI in its customer service strategy. With their AI-driven capabilities, HR chatbots are not mere question-answer bots; they’re evolving into sophisticated assistants that understand, interact, and resolve HR issues in real-time. Healthcare chatbots revolutionize patient interaction by providing a platform for continuous and personalized communication. These digital assistants offer more than just information; they create an interactive environment where patients can actively participate in their healthcare journey.

Most important of all, the applications of chatbots in customer service could also include use cases to ensure the management of internal helpdesk support. Furthermore, the implementation of chatbots in customer service also involves the use of cases of collecting customer feedback. So, one can clearly notice that chatbots have a wide range of applications across various industries. However, are chatbots just meant to be the replacements of human customer support representatives?

Traditionally, email was the way to get the shipping number, then to go to the company’s website and in the delivery service section. Read about Göteborg Energi automating more than 60% of their online support already during the first month with a chatbot. Therefore, for this last chatbot use case, we’re going to go out of the box and recommend an internal use-case for chatbots instead. Moreover, for business, when it comes to tools and technologies, the best kinds are the ones that can integrate and perform different roles and activities respectively.

Chatbot healthcare use cases

Customers have to go through their email to find the shipping number of the product they bought, then go to the company’s website from where they bought the product. Then they have to go to the delivery service’s website to enter the shipping number. In this case, providing high-quality support and guidance is not an easy job.

• Just remember, no one knows how to improve your business better than your customers.
• Imagine a workplace where HR inquiries are answered instantly, where onboarding is seamless, and employee engagement is consistently high.
• With deep analysis and years of experience, we have come up with the most practical use cases where you can deploy chatbots and get outstanding results.
• Because their replies are based on facts, the information they offer is accurate and consistent.
• This hybrid approach eventually helps in reducing the burden on the CSA, resulting in significant savings on the operational front.
• With chatbots, companies can introduce their products and services by providing a tailored experience to visitors using chatbots.

With conversational AI, customer service no longer needs to be constantly alert. A proactive chatbot for utilities can take over various inquiries from support staff. There are usually the most common ones, such as login errors, account problems, or guidance within the website. Companies can also leverage their proactive capabilities to leverage sales, cross and upselling, or customer development. A national food-services organization in North America had an existing operational Conversational AI solution.

Chatbots powered by Artificial Intelligence (AI) and Machine Learning (ML) can help utilities elevate the CX whilst reducing the overhead costs. As per reports, the chatbot market is expected to grow at a CAGR of 22.5% between 2020 and 2027. Create a development timeline that allows plenty of time for planning and testing. The planning process should include input from a variety of company departments, as well as customers.

These AI-driven platforms have become essential tools in the digital healthcare ecosystem, enabling patients to access a range of healthcare services online from the comfort of their homes. Chatbots have emerged as the most promising solution for simplifying business communication in recent times. They provide the perfect simulations of human conversations with in-build capabilities for understanding human language and processing it to derive the relevant response for users. Most important of all, the applications of chatbots beyond the scope of communication between customers and brands showcase their efficiency. Virtual assistants powered by AI are becoming increasingly popular in the utility industry, allowing customers to interact with companies more efficiently and engagingly.

They resembled automated phone menus, guiding users through a series of preset choices to reach default answers, which limited the detail and range of what these conversations could be. An e-commerce chatbot is a computer program that communicates with customers via an online platform. E-commerce chatbots are designed to mimic human conversation, allowing customers to engage with an e-commerce business in a more conversational and personal way. An AI-powered chatbot can save time in an industry where time is often literally a matter of life and death. Clinic or hospital contact centers don’t get overwhelmed with basic queries, and patients can get quick answers about topics that worry them. While the conversational AI vs. chatbot debate has been going on for a long, we should not forget how conversational bots could use artificial intelligence (AI) to assist users over both text and voice.

Read more about Chatbots For and Use Cases here.