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Statista reports that the size of chatbot market is was 113 million USD in 2015 and projected to be 994.5 million USD in 2024 Mc Kinsey reports that in 2015 30% of all customer care interactions took place through chat, social media, and email; this is projected to rise to 48% in 2020.While chatbot use and investment are booming, they have a long way to go.
Users tend to go to chatbots for simple questions, product recommendations, or to quickly purchase or book something.
SVM is generally good at combining diverse information sources and does not assume feature independence but are generally sensitive to sparse and insufficient data.
Even major banks like JPMorgan Chase are looking to the future with their use of chatbots.
These bots were put forth in Amazon’s Mechanical Turk, or an online crowdsourcing marketplace that enables individuals and businesses to bargain.
Most users believed that they were interacting with a human and not a bot.