Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche


The Rise of the Chatbots

The use of chatbots is on the rise and is a growing trend among businesses, thanks to the rapid developments in artificial intelligence and natural language processing. Companies are working very hard to become more efficient and resourceful to cut down costs, which is why, over the next few years, the use of chatbots is going to explode as they become more and more developed.

Chatbots are super clever computer programs which can mimic conversations with real human beings by using artificial intelligence. These clever technologies are going to change the way we interact with our favourite brands and businesses on the internet over popular messaging applications and platforms. We will soon be able to have full-blown conversations with chatbots in a customer service setting.

By 2025, the global chatbot market is expected to exceed $1.23 billion and will be growing by almost 25% each year. This makes sense, because more than 25% of the world’s population will be using some form of mobile messaging service, such as Facebook Messenger, by the next year. This is providing fertile soil upon which chatbots can grow and become ingrained into our lives.

By 2029, it is predicted that chatting with chatbots will be indistinguishable from chatting with humans. At the moment, it is easy to figure out when we are talking to a chatbot, so it shall be interesting to see how well they develop over the next few years.

Want to learn more about chatbots? Check out this great infographic by to learn more about the Chatbot World Conquest.


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