To Bot Or Not? The Rise Of AI Chatbots In Business

They're your personal shopper; they send notifications about your pizza order. Chatbots can update your bank account balance or serve as your hotel concierge--and this digital-transformation trend appears to be on the rise. With the rise in chatbot adoption, the question for many business leaders is: How do I know if--and when--I should capitalize on this digital trend?Getty According to CITI research, Facebook Messenger chatbots are developing 70 percent faster than iOS apps were at this same stage in their life cycle. Up to 80 percent of survey respondents said they planned to use some sort of chatbot by 2020--and for good reason. And according to Juniper Research, businesses using chatbots could save $8 billion per year by 2022 in banking and healthcare alone.