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Customers require fast and efficient solutions in this fast-paced world. They often ditch traditional channels for customer service and visit a company's website or social media account for immediate answers to their inquiries. In this critical moment, an inability to respond quickly can lead to a dissatisfied client. This could be a disaster for your business. Click over here nowto discover a full article on conversational AI Chatbot. With the advent of the internet, word gets around quickly. One unhappy customer can do many negative effects to your company's image. The customer could write, for instance, negative reviews that deter potential buyers from purchasing your products or services. AI chatbots provide the most effective solution for companies that are experiencing problems with slow customer service. If you're curious about whether AI chatbots can be beneficial for or bane of your business, take a look at the advantages and disadvantages discussed in this article. Benefits Let's begin with the benefits. 1. AI Chatbots Service More Customers AI chatbots are like virtual customer service representatives. They are available to assist with any queries. They can attend to the needs of more customers and offer more replies, even with an influx of visitors to your website. 2. AI Chatbots Gather and Analyze Data Chatbots can gather data and provide detailed reports on the behavior of customers and their preferences. They can extract information about the customers who are browsing and the products they're searching for. Chatbots can then suggest products based on their search activities. AI Chatbots Lower Human Resource Costs AI chatbots are a great way to decrease the number of customer service employees. This helps save money that goes to retaining employees while increasing the overall ROI. Benefits The negatives are here. AI Chatbots Lack Empathy AI chatbots can imitate human behavior however they are far from mimicking human emotion. A lot of customers want to interact with brands in a way which isn't possible through AI chatbots. AI Chatbots are Expensive You might need to purchase one of the more advanced AI chatbots if your business is complicated and extensive. The cost of installation can be costly. AI Chatbots' Decision-Making Are Limited AI chatbots are trained to provide automated responses but they cannot make decisions that are complex in the moment. While they are capable of handling simple questions, they might not be able to address more complex requests. Customers are generally looking for immediate solutions and if they do not understand the issue, they'll feel dissatisfied. Last Thoughts Artificial intelligence chatbots are the next frontier in technology advancement. Despite their limitations, many companies invest heavily in them because they offer the fastest and most efficient method for customers to receive assistance and resolve issues quickly. After you've completed the necessary research and concluded that AI chatbots are a good fit for your business You can check out the infographic below to find out more about their benefits and disadvantages.