Today, operators are leveraging robust platforms that are powered by both human and machine intelligence to provide an exceptional rental experience, unlike the typical harder to scale "live chat" solutions. The first step is to prepare your organization for success by assessing what resources you have available in order to solve for the desired use case.

Privacy by design is critical for chatbots that handle personal information, no matter how small. This is particularly important for services that are targeting children as Naré from Ntropy explained, and even more vital to take into consideration with free-form contributions like chat.

A Chatbot is information service interface done by a computer program, sometimes with the help of artificial intelligence (AI). Chatbot applications range from functional to fun, and have been growing quickly both in sophistication and popularity. The Chatbot is becoming a major application across multiple industries and use cases, and many global brands are heavily invested in Chatbot technology. Although Chatbots are now widely used, their core technologies are still in the early stage of application and some Chatbots fail to meet Users' expectations. The Chatbot is not a universal solution for every user interaction interface.

Chatbots are effective engagement tools, and if implemented properly, they can build your sales pipeline and monetize your social media accounts. Chattypeople, a leading bot-building platform, allows you to build a complex chatbot in a matter of minutes. That being said, there is no one-size-fits-all when it comes to chatbots, so you have to build a chatbot based on your company's specific needs. With Chattypeople, you can build a complex bot that can carry out multiple tasks. Some companies can benefit from using chatbots as a customer care tool, whereas businesses that offer online purchases can use chatbots as a direct sales channels.

Entering the chatbot market is fairly easy to accomplish today. Businesses can quickly design and deploy a rudimentary chatbot and develop a following. That said, many of today's chatbots have failed to live up to expectations, mostly due to slow technology advancements. How well does the bot know the user? How well does it know what the user needs?

Incumbent banks today are facing increasing pressure to remain competitive. The pressure is coming mostly from tech-savvy entrants that lure in consumers with user-friendly, cheaper products. To remain competitive, these legacy players must innovate digitally, and chatbots let them do so on a budget. Either a third-party provider can build a chatbot for them to roll out on a popular messaging app, or they can develop a chatbot in-house. Chatbots still have risks attached to them, but they are outweighed by their benefits.