Nowadays a high majority of high-tech banking organizations are looking for integration of automated AI-based solutions such as chatbots in their customer service in order to provide faster and cheaper assistance to their clients becoming increasingly technodexterous. In particularly, chatbots can efficiently conduct a dialogue, usually substituting other communication tools such as email, phone, or SMS. In banking area their major application is related to quick customer service answering common requests, and transactional support.
This form of artificial intelligence was first developed by MIT Professor Joseph Weizenbaum in the 1960’s and named ELIZA. It wasn’t until 2011, when chatbots had a resurgence with the inception of WeChat in China. Customers could create chatbots on this platform and interact with one another seamlessly. In 2016, Facebook introduced its own chatbots which paved the way for this form of artificial intelligence to enter and interact with mainstream media consumption.

in Internet sense, c.2000, short for robot. Its modern use has curious affinities with earlier uses, e.g. "parasitical worm or maggot" (1520s), of unknown origin; and Australian-New Zealand slang "worthless, troublesome person" (World War I-era). The method of minting new slang by clipping the heads off words does not seem to be old or widespread in English. Examples (za from pizza, zels from pretzels, rents from parents) are American English student or teen slang and seem to date back no further than late 1960s.
Companies use internet bots to increase online engagement and streamline communication. Companies often use bots to cut down on cost, instead of employing people to communicate with consumers, companies have developed new ways to be efficient. These chatbots are used to answer customers' questions. For example, Domino's has developed a chatbot that can take orders via Facebook Messenger. Chatbots allow companies to allocate their employees' time to more important things.[10]
Messenger bots might also be able to revolutionize customer support. Facebook has become a popular platform for brands to interact with their customers. Many times customers will take a complaint to a brand’s Facebook page and have it resolved over chat. A Messenger bot makes it easier for you to get help. The quality of the support will vary but for smaller business that rely on Facebook for sales a bot is going to help them stay ‘online’ 24/7.
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