No customer service rep wants to answer the same question a hundred times a day. IVan answers hundreds of frequently asked questions, takes users through an end-to-end van leasing journey, including credit checking and finance approval, close deals itself, without human intervention and hand s over warm leads to human salespeople.
For enterprises, AI chatbots offer a way to build a more personalized and engaging customer experience, which in return delivers a wealth of customer information that is highly valuable in better understanding their customers and growing their business.



Knowmax, a Knowledge Management Platform has expanded our capabilities in terms of communication, information accessibility, and knowledge sharing about products and services with our end customers Chatbot Case Studies through digital and assisted channels using Picture Guides for pictorial support regarding various use cases, and their Al based knowledge base, becoming brain to our Chabot "Saeed".
This has become increasingly true as advancements in automation, machine learning (ML), and natural language processing (NLP) have enabled conversational assistants to deliver customer engagement that's so on par with live agents that the bots can supplant staff entirely.

The developments in natural language processing and machine learning will supply chatbots with sophisticated algorithms that will enable them to provide customers with more unique and personalized experiences, creating more authentic relationships with a given target audience.
The combination of CIOs taking control of the chatbot landscape, the continued business-driven initiatives from departments looking to build their own applications, and the push from developers to build conversational systems at a ‘skunk work' level is creating an interesting and dynamic set of stakeholders.

While linguistic and machine learning models have a place in developing some types of conversational systems, taking a hybrid approach offers the best of both worlds, and offers the ability to deliver more complex conversational AI chatbot solutions.
A recent survey by Juniper Research came up with quite an interesting claim with regards to bots in banking and states that for every query handled by a bot, banks save 4 minutes of human labor.” The same report also suggests that this will amount to billions of dollars in annual savings by 2022.
In this chapter we'll cover the most relevant chatbot statistics about the chatbot market, usage, engagement and business value, as well as some forecasts and predictions for the future. Using Teneo, it has developed a variety of applications to deliver an enhanced online self-service experience to its customers driving customer engagement.