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Hot Bot Trends to Watch Out For in 2017
January 30, 2017 AI BankingBots

We witnessed a lot of buzz around Artificial Intelligence (AI) and Bots, in particular, in 2016. As the year progressed, there was enormous interest generated over the technology, which led to more research and investment being put in by big companies as well as start-ups.

Going forward, what can we expect in 2017? Will 2016’s AI landscape seamlessly segue into this year’s or are we in for newer breakthroughs?

Sophisticated and Industry-specific Bots

Last year was the phase of the generic Bot, with businesses and developers securing ample success through experiences that were simple to execute and easy for people to use. This year, expect platforms to build more sophisticated interactive experiences and CRMs, so that more industries such as banking and finance, media, E-commerce, and restaurants can make the most of Bots.

Industry experts have also predicted proliferation of specific and highly-targeted AI systems, such as Bots for CRM, consumers and virtual assistants, apart from personal, industrial, and retail robotics, and autonomous vehicles in this year.

Rise of Bot Interactions

“Thanks to AI, we’ve seen ChatBots take center stage in 2016, and as we break into 2017, we expect this trend to spur even more innovation, specifically in the enterprise,” Ashu Garg, general partner at Foundation Capital, a Silicon Valley venture capital firm, was quoted saying recently. “Businesses will increasingly look to ChatBots to help reduce spending on customer service, and insurance and financial services representatives, fields that are ripe for disruption,” according to Ashu.

Over 85 per cent of customer interactions will not include a human being by 2020, and ChatBots will be the No. 1 consumer application of AI during the next five years, reckons a research study from Gartner and TechEmergence, as reported by Business Insider.

Advances in natural language understanding, emotional intelligence and detection and in human-assisted solutions will allow for a richer interaction between humans and machines in 2017.

Bots over More Messaging Platforms

In 2017, expect “a flurry of messaging platforms to open their platforms for ChatBot integration,” Ashu said.

“While Facebook is still the dominant messaging platform, WhatsApp, Kik, WeChat and other globally relevant messaging platforms will fuel ChatBot innovation and healthy competition. As the technology gains traction and AI technologies continue to advance, we’ll begin to see ChatBots become increasingly integrated with companies’ back-end systems, changing the way people communicate with businesses.”

Start-up Bot Innovation

In 2016, large companies invested resources in making tech smarter and better at predicting things using AI, according to Ludo Ulrich, Head of Start-up Relations at cloud CRM provider, Salesforce.

“Now that the true importance and impact of AI has been discovered and has become more accessible than ever before, 2017 will be the year where the knowledge that used to be possessed by a select few will now become imbued throughout the tech landscape — allowing for younger start-ups to truly innovate in the space,” Ulrich was quoted saying.

Mobile Webview Integration

Being able to open a mobile website gives developers a way to increase user input, offer richer browsing capabilities, and leverage existing mobile frameworks. This is especially valuable for commerce Bots, where implementing structured messages can be cumbersome.

Since Webview allows a Bot to offer a full product catalog without overcomplicating the interaction, there is bound to be more adoption among Bot developers over the coming months.

Social Bots

As more people turn to Bots to take care of everyday tasks, the more they will want to share their favorite Bots with family and friends.

We can expect further innovation in social sharing features, from both the platform and developer side, as well as the beginning of truly viral Bots.

We, at Payjo, are mighty excited to be at the forefront of the Bot revolution in 2017. Our sophisticated platform will assist banking customers in carrying out any transaction with ultimate ease of use and through a simple interface. It is developed to boost the financial literacy of any lay user.

Get to know more about us at www.payjo.co.

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