Chatbots are growing and growing as a new form of intangibles

Chatbots are gaining more and more momentum throughout the public and private sectors, worldwide.

Now is the time to consider chatbots from a wider perspective.  

Chatbots are emerging as a new class of intangible assets. Typically, each industrial strength chatbot by its very nature contains measurable knowledge, applied in practice through dialogue.

Arguably, the largest category of intangibles as measured by volume is knowledge. It is also potentially the most valuable, which could supersede in terms of monetary value other forms of revenue generating intangibles such as patents.

There is a growing and growing number of tasks, which are knowledge-driven impacting employees, customers, suppliers and other stakeholders. Yet repeatable knowledge-driven tasks have been the most problematic intangible to create, share, measure and evolve.  This is now changing as chatbots gain momentum.

The deployment of chatbots for supporting knowledge-driven tasks is a huge transformational opportunity that has yet to be quantified from multiple perspectives.

The shift towards using chatbots as a working, measurable knowledge assets are a key enabler for digital transformation with the potential to kick-start material productivity improvements, which have been largely stagnant for some time, no matter the advances in technology. Using chatbots for knowledge-driven tasks potentially changes every workflow. One target is to replace the data input form, which no one likes using. The data form is at least an 190+ year old instrument, apparently  designed by Charles Babbage that is hardwired into conventional thinking. Indeed, the data form should be a red lined as it ought to have no place in any digital transformation solution.     

In terms of intangibles, there will naturally be many chatbots that would be regulated to a junk classification. However, there is a growing and growing number of chatbots that are working, measurable knowledge assets leading the way to revolutionise the way we perform knowledge-driven tasks.

The implications are enormous as Knowledge Capital becomes a reality.