September 15, 2020
Key Chatbot Statistics You must know in 2020
Does that field of technology, artificial intelligence, machine learning, etc. interest you? And are you interested in knowing various facts, figures, and statistics of a particular industry to understand it better? If yes, then you have landed at the right blog. Here you will know about some fascinating chatbot statistics which may even blow your mind!
What are chatbots?
A chatbot is a software that relies on technologies like Natural Language Processing and Machine Learning to “understand” and reply to the user’s messages.
The majority of existing chatbots nowadays are powered by rules and sometimes artificial intelligence.
There are two types of chatbots:
The software can perform an array of tasks, ranging from lead generation by lead generation chatbots to content automation, customer support, or recruitment.
1. One which functions based on a set of rules
2.Other which uses more advanced version i.e., machine learning and AI
History of chatbot
Although most of the technological developments in chatbots have occurred in recent times only, chatbot statistics show that a chatbot concept has been around for a much longer time. Let us look through some of the early developed chatbots –
- ELIZA: It is considered to be the first chatbot ever made. It was developed in 1966 by Joseph Weizenbaum at Massachusetts Institute of Technology (MIT). ELIZA recognizes keywords from the user input, and then it shoots a response using them from pre-programmed data. This feature made the user feel that he/she is having a conversation with a real human, although it was a mechanized process.
- PARRY: Kenneth Colby made it in 1972, who was a psychiatrist based out of America. The chatbot simulates a patient with a disease called schizophrenia. This program resembles an individual’s thinking and thus helps a lot in studying various aspects of the disease.
- ALICE: After Jabberwacky in 1988 and Dr.SBAISTO in 1992, ALICE was developed in 1995 by Richard Wallace. Unlike Eliza and other previously developed chatbots, the ALICE chatbot used natural language processing, which resulted in more refined performance, flexible and accurate conversations with the user. It was open-source for the developers for using technologies like AIML (artificial intelligence markup language) to create their chatbots powered by ALICE.
- The period between 1956 to 1974 is known to be the golden years for artificial intelligence as there were great strides which one made in this field during this time.
After looking at the fascinating history of chatbots, it’s time to look at some of the chatbot statistics.
- The first chatbot, ELIZA, was created in 1966.
- According to chatbot statistics, today, more than 1.4 billion people use some form of a chatbot!
- Chatbot statistics prove that a chatbot on websites can answer up to 80% of the standard questions.
- Some research on chatbot statistics suggests that 64% of users said that 24/7 online availability was the best feature of chatbots.
- 15% of people have been using a chatbot to communicate with a business, according to some chatbot statistics.
- 35% of people use the chatbot on websites to resolve a complaint or problem or get detailed answers.
- 40% of millennials, according to verified chatbot statistics, are known to engage with chatbots regularly.
- The countries with the most number of chatbot users are the USA, India, Germany, the UK, and Brazil.
- Chatbot statistics estimate that nearly a quarter of the world’s population was using chatbots by the end of 2019.
- $5 billion will be invested in chatbots by 2021.
- 65.1% of businesses who have deployed chatbots are in the SaaS (software as a service) space
- The No.1 predicted usage for chatbots had been found as “getting a quick answer in an emergency.” No.2 indicated use is “resolving a complaint or question.”
- 58% of B2B companies use a chatbot on their website, whereas the statistic for B2C companies stands at 42%.
After going through these fascinating chatbot statistics, you may be immediately wanting to deploy a chatbot on websites or your company’s android applications. But given that there are way too many companies offering this service, it may become challenging to choose a company that best suits your needs. Amongst all these companies, BotPenguin is one that stands out as a premium one that caters to every need your company might have. Here are some key features which make BotPenguin the best in its segment.
● Natural Language Processing
● Zero Development Time
● Zero Setup Cost
● Conversational UI
● Deep Analytics
● Easy to Integrate
● Easily Customized
● Strong Validation
● Human Handover
● Multiple Messaging Channels
● Capable of being trained
These chatbot statistics tell that chatbots have a considerable market coming up shortly. This will create many new and exciting opportunities and thus is a field to watch out for!