JUNIPER RESEARCH: COST AND TIME SAVINGS FROM CHATBOTS

Juniper Research believes the emergent evidence from using Chatbots has the potential to replace the tasks of targeted human workers through fluent conversations with human users. They believe that Chatbots will undertake the following key tasks:

• Handle conversational interactions with human users
• Seamlessly handoff to human agents
• Trigger automated processes
  
  

Their research shows that Chatbots are increasingly influential in day-to-day life. This includes across a range of industries, from simple banking transactions to eRetail customer service enquiries.

In the Healthcare and Banking sectors, the emerging evidence shows circa 4 minutes is the average time saving per Chatbot enquiry when compared with human agents in a traditional call centre.

Research author Lauren Foye explained:

“We believe that healthcare and banking providers using bots can expect average time savings of just over 4 minutes per enquiry, equating to average cost savings in the range of $0.50-$0.70 per interaction.”

Within the Banking sector, 20% of chatbot interactions are already successful. By 2022, Juniper Research expect this number to reach 80%.

In addition, they forecast that the success rate of Chatbot interactions in the Healthcare sector (those completed without relocation to a human operator) will move from 12% currently, to over 75% in 2022. In the Banking sector, Juniper expects this to reach over 90% in 2022.

Juniper’s Research shows that Chatbots will be responsible for cost savings of over US$8bn per annum by 2022 covering Retail, eCommerce, Banking and Healthcare.