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.
The term "ChatterBot" was originally coined by Michael Mauldin (creator of the first Verbot, Julia) in 1994 to describe these conversational programs.[3] Today, most chatbots are accessed via virtual assistants such as Google Assistant and Amazon Alexa, via messaging apps such as Facebook Messenger or WeChat, or via individual organizations' apps and websites.[4][5] Chatbots can be classified into usage categories such as conversational commerce (e-commerce via chat), analytics, communication, customer support, design, developer tools, education, entertainment, finance, food, games, health, HR, marketing, news, personal, productivity, shopping, social, sports, travel and utilities.[6]
“Major shifts on large platforms should be seen as an opportunities for distribution. That said, we need to be careful not to judge the very early prototypes too harshly as the platforms are far from complete. I believe Facebook’s recent launch is the beginning of a new application platform for micro application experiences. The fundamental idea is that customers will interact with just enough UI, whether conversational and/or widgets, to be delighted by a service/brand with immediate access to a rich profile and without the complexities of installing a native app, all fueled by mature advertising products. It’s potentially a massive opportunity.” — Aaron Batalion, Partner at Lightspeed Venture Partners
To compliment the functionality of bots for Messenger, we're introducing another tool to facilitate more complex conversational experiences, leveraging our learnings with M. The wit.ai Bot Engine enables ongoing training of bots using sample conversations. This enables you to create conversational bots that can automatically chat with users. The wit.ai Bot Engine effectively turns natural language into structured data as a simple way to manage context and drive conversations based on your business or app's goals.
Chatbots are certainly the quickest and most cost-effective way to be able to connect with the largest group of audience available on a single platform viz Facebook. Higher engagement rate than emails this trend is here to stay for a long time if not forever. Good for you, now that you have a proper list of tools that can be used to build chatbots in a snap of a finger. It’s no more a rocket science formula to implement them and let the results surprise you for yourself.

“It’s hard to balance that urge to just dogpile the latest thing when you’re feeling like there’s a land grab or gold rush about to happen all around you and that you might get left behind. But in the end quality wins out. Everyone will be better off if there’s laser focus on building great bot products that are meaningfully differentiated.” — Ryan Block, Cofounder of Begin.com

If a text-sending algorithm can pass itself off as a human instead of a chatbot, its message would be more credible. Therefore, human-seeming chatbots with well-crafted online identities could start scattering fake news that seem plausible, for instance making false claims during a presidential election. With enough chatbots, it might be even possible to achieve artificial social proof.[56][57]
Chatbots are increasingly present in businesses and often are used to automate tasks that do not require skill-based talents. With customer service taking place via messaging apps as well as phone calls, there are growing numbers of use-cases where chatbot deployment gives organisations a clear return on investment. Call centre workers may be particularly at risk from AI-driven chatbots.[60]
The classic historic early chatbots are ELIZA (1966) and PARRY (1972).[11][12][13][14] More recent notable programs include A.L.I.C.E., Jabberwacky and D.U.D.E (Agence Nationale de la Recherche and CNRS 2006). While ELIZA and PARRY were used exclusively to simulate typed conversation, many chatbots now include functional features such as games and web searching abilities. In 1984, a book called The Policeman's Beard is Half Constructed was published, allegedly written by the chatbot Racter (though the program as released would not have been capable of doing so).[15]
Marketer’s Take: The bot was surprisingly effective yet fell short several times when queries like “Show me Blue Jeans” came with a canned bot response, “Sorry, I didn't find any products for this criteria.” Yet I know they sell “blue jeans”. Still, the bot was one of the best eCommerce bots I’ve seen on the platform thus far, and marketers should study it.
Marketer’s Take: While I didn’t like being directed to a website to finalize my purchase, I understand why Spring decided on this approach given how the Messenger platform was just released. Yet, this may be a sound strategy if you’re looking to augment upselling and cross-selling opportunities or looking for deeper analytics than what Facebook Messenger is providing.

However, as irresistible as this story was to news outlets, Facebook’s engineers didn’t pull the plug on the experiment out of fear the bots were somehow secretly colluding to usurp their meatbag overlords and usher in a new age of machine dominance. They ended the experiment due to the fact that, once the bots had deviated far enough from acceptable English language parameters, the data gleaned by the conversational aspects of the test was of limited value.

^ "From Russia With Love" (PDF). Retrieved 2007-12-09. Psychologist and Scientific American: Mind contributing editor Robert Epstein reports how he was initially fooled by a chatterbot posing as an attractive girl in a personal ad he answered on a dating website. In the ad, the girl portrayed herself as being in Southern California and then soon revealed, in poor English, that she was actually in Russia. He became suspicious after a couple of months of email exchanges, sent her an email test of gibberish, and she still replied in general terms. The dating website is not named. Scientific American: Mind, October–November 2007, page 16–17, "From Russia With Love: How I got fooled (and somewhat humiliated) by a computer". Also available online.


“Major shifts on large platforms should be seen as an opportunities for distribution. That said, we need to be careful not to judge the very early prototypes too harshly as the platforms are far from complete. I believe Facebook’s recent launch is the beginning of a new application platform for micro application experiences. The fundamental idea is that customers will interact with just enough UI, whether conversational and/or widgets, to be delighted by a service/brand with immediate access to a rich profile and without the complexities of installing a native app, all fueled by mature advertising products. It’s potentially a massive opportunity.” — Aaron Batalion, Partner at Lightspeed Venture Partners


In this era of information, businesses are able to take advantage of social media platforms to aid communication between their brand and their customers. Such seamless connectivity allows for a more transparent business exchange between the brand and its consumers. Just a decade ago, direct consumer brand interaction was either relatively impossible, or lengthy and cumbersome at the best. Social media has since then bridged this gap.
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