Nowadays, customers believe that the experience a company provides is as important as its products or services and that tine AI Chatbots come in the picture. You can say that Chatbots are a critical part of customer service. What is Chatbots? A chatbot is Artificial Intelligence (AI) software. It can imitate a conversation or a chat with a user in natural language through messaging applications, websites, and mobile apps or mobile phones. That simulates human conversation either written or spoken, allowing humans to interact with digital devices like they were communicating with a real person. Chatbots can be simple programs that answer a simple query with a single-line response. It evolves to deliver increasing levels of personalization as they gather and process information. The chatbot is described as one of the most advanced and expressions of interaction between humans and machines. A chatbot only represents the natural evolution of a Question-Answering and for this; it uses Natural Language Understanding (NLU). NLU is the intelligence of the chatbot that can understand a human and it is the process of converting text into structured data for the machine. Why Chatbots are important for your business? Chatbots bring cost savings to businesses while offering convenience and added services for customers. They allow companies to easily resolve customer’s queries and issues. Let’s discuss the importance of chatbot strategy in your business and how chatbot benefits. It reduces customer waiting time. Chatbots are available 24×7. It gives better customer engagement. Save customer service costs. Reduce customer churn rate. Final thoughts Now you can understand what chatbot is and why are they important? You are agreeing that Chatbots have drastically changed the way businesses interact with their customers. There are so many successful examples of Chatbots like VainuBot for lead generation, HDFC Eva chatbot for customer service, etc. So chatbot is very much important for your business and this information will help you.