What Every Business Should Know About Chatbots - CIOL

The latest technology to catch the fancy of a lot of businesses are chatbots--self-learning computer programs designed to have intelligent conversations with humans over the Internet. Several announcements were made recently by leading Indian banks and insurance companies about deploying chatbots. Fullerton India Credit Company Ltd. launched ASHA, a loan acquisition and fulfillment chatbot for Facebook Messenger that customers can chat with to apply, structure, submit documentation, and receive loan approvals, without downloading any other application. YES Bank launched an AI powered chatbot called mPOWER for FB Messenger for instant loan offering. HDFC Life Insurance launched an AI based chatbot that takes customers through a 60 seconds quiz and then computes their Insurance Quotient for the company's various insurance products, like tax planning, retirement, health, etc. Chatbots can be highly beneficial for both businesses and customers.