Nowadays a high majority of high-tech banking organizations are looking for integration of automated AI-based solutions such as chatbots in their customer service in order to provide faster and cheaper assistance to their clients becoming increasingly technodexterous. In particularly, chatbots can efficiently conduct a dialogue, usually substituting other communication tools such as email, phone, or SMS. In banking area their major application is related to quick customer service answering common requests, and transactional support.

The term Chatbot is closely related to chat bot and chatterbot. Chatterbot is more popular in relation to chatbot who talk a lot, and is not necessary very intelligent in processing the user answers. Chat bot is used by technical people who consider the word ‘bot’ as a normal term for ‘robotised actions’, and for them ‘chat bot’ is a special kind of bot. The term Chatbot is actually the most popular amongst these three terms and has the broadest meaning.
Please check out our main directory with 1376 live chat bot examples (an overview as maintained by developers themselves), our vendor listing with 256 chat bot companies and chat bot news section with already more than 370 articles! Our research tab contains lots of papers on chat bots, 1,166 journals on chat bots and 390 books on chat bots. This research section also shows which universities are active in the chat bot field, indicates which publishers are publishing journals on humanlike conversational AI and informs about academic events on chat bots. Also, check out our dedicated tab for awards, contest and games related to the chat bot field, various forums like our AI forum by chat bot enthusiasts and add any chat bot as created by yourself and your colleagues to our chat bot directory. Please do not forget to register to join us in these exciting times.
Chatbot, when it plays its role as a virtual representative of an enterprise, is widely used by businesses outside of the US, primarily in the UK, The Netherlands, Germany and Australia. Additionally, the usage of this term is quite popular amongst amateur AI enthusiasts willing to spend vast amounts of time on their own intelligent creations (with diverse outcomes).
24/7 digital support. An instant and always accessible assistant is assumed by the more and more digital consumer of the new era.[34] Unlike humans, chatbots once developed and installed don't have a limited workdays, holidays or weekends and are ready to attend queries at any hour of the day. It helps to the customer to avoid waiting of a company's agent to be available. Thus, the customer doesn't have to wait for the company executive to help them. This also lets companies keep an eye on the traffic during the non-working hours and reach out to them later.[41]

“Beware though, bots have the illusion of simplicity on the front end but there are many hurdles to overcome to create a great experience. So much work to be done. Analytics, flow optimization, keeping up with ever changing platforms that have no standard. For deeper integrations and real commerce like Assist powers, you have error checking, integrations to APIs, routing and escalation to live human support, understanding NLP, no back buttons, no home button, etc etc. We have to unlearn everything we learned the past 20 years to create an amazing experience in this new browser.” — Shane Mac, CEO of Assist

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