What is a chatbot? Why are chatbots important? Chatbot applications AI chatbot: Which chatbot application is right for you?
Recently, new tools designed to simplify the interaction between humans and computers have hit the market: Chatbots or Virtual Assistants. In banking, chatbots and virtual assistants are some of the industry’s newest tools designed to simplify the interaction between humans and computers.
What exactly is a chatbot?
A chatbot is an artificial intelligence (AI) software that can simulate a conversation (or a chat) with a user in natural language through messaging applications, websites, mobile apps or through the telephone.
Why are chatbots important? A chatbot is often described as one of the most advanced and promising expressions of interaction between humans and machines. However, from a technological point of view, a chatbot only represents the natural evolution of a Question Answering system leveraging Natural Language Processing (NLP). Formulating responses to questions in natural language is one of the most typical Examples of Natural Language Processing applied in various enterprises’ end-use applications.