There are approximately 3.4 billion worldwide users of WhatsApp, Line, Messenger, and WeChat, and that number is expected to reach 4 billion by the end of 2023. Chatbots represent a means of monetizing this huge audience.
Chatbots enhance customer experience multi-fold and thus reducing Churn rates.
Bots also provide a great relief to business in terms of cost of customer service. According to IBM, businesses spend a whopping $1.3 trillion on serving 245 billion customer inquiries every year.
Chatbots are capable of helping businesses significantly cut customer service costs.