A chatbot or robot is a computer program that simulates or provides human-like answers to questions engaging a conversation via auditory or textual input, or both. Chatbots can perform tasks such as data entry and providing information, saving time for users. In recent times, there has been an increased focus on the potential for chatbots to better serve as interfaces between humans and businesses identifying it as a service marketed at solving conversational problems. A chatbot is a computer program that simulates human conversation. It can be used to create automated customer service agents, marketing assistants, and other similar systems.

Chatbots have become extremely popular in recent years and their use in the industry has skyrocketed. The chatbot market is projected to grow from $2.6 billion in 2019 to $9.4 billion by 2024. This really doesn't come as a surprise when you look at the immense benefits chatbots bring to businesses. According to a study by IBM, chatbots can reduce customer services cost by up to 30%. In the third blog of A Beginners Guide to Chatbots, we'll be taking you through how to build a simple AI-based chatbot with Chatterbot; a Python library for building chatbots.