Voicebot vs Chatbot: Which Bot is better For Your Business? (2022)

Both voicebot and chatbots play a crucial role for businesses in communicating with their customers. Communication can be done at any point of time that induces a feeling of satisfaction among the customers since they are able to communicate with the businesses with ease as well as convenience. Both of these methods of communication have their own advantages and disadvantages but both are undoubtedly the two of the biggest tech trends in recent times. Now, let us have a detailed understanding of the voicebot and chatbot.

Content:

1. What is a Voicebot?

2. What is a Chatbot?

(Video) Differences between a Chatbot and Voicebot | Chatbot Crash Course

3. Why Bots are the Biggest Trend?

What is a Voicebot?

Voicebot vs Chatbot: Which Bot is better For Your Business? (1)

Voicebot is an artificial intelligence and natural language understanding (NLU) based voice channel for communication that works by converting audio to text format. The AI technology helps to identify the key markers in the speech and conclude the best response to dialogue. The text to speech (TTS) engine then converts the response into audio or voice to complete the interaction. These bots are trained to complete the entire speech understanding and response process in a near-human manner. They are also referred to as voice assistance/assistant or the voice chatbot. The voice assistant is an intelligent way of communication that can be easily integrated into various devices of customer service like – IVR, chatbot, self-service, etc.

Benefits of Using a Voicebot:

The pros of voice bot are as mentioned below.

(Video) What's the Difference Between a Chatbot and Conversational AI?

  • Voice mode communication – Voice is the most natural mode of communication, voicebot therefore becomes the most preferred mode of communication owing to its ease of use.
  • Smoother experience – With the modern smartphone, the traditional touch-tone method has become obsolete and tedious. A voicebot is a simple and natural alternative to traditional DTMF.
  • Greater integration – Another great advantage of the voicebot is that these bots can be easily and conveniently coordinated with a wide range of customer service tools like a CRM or knowledge base, to provide important self-service. On the other side it can be integrated to myriad of smart speakers like Alexa, Google Home which are becoming pervasive in day today lives.
  • Suitable for a larger customer base – A voice bot gives the customer service of a brand, a mass appeal. Customers who are less or not technology-savvy can easily use it. Even customer with deficiencies can use it with ease. Old people who find it difficult to text find it very convenient to use voice for communication. This is true for people who are not well trained or literate in writing but can speak well!

Voicebot – Challenges To Overcome:

Training – The time spent on training a voicebot can be a deterrent to its application. For complex conversations, the voicebot may need human support to handover the conversation. The voicebot would need continuous training for different scenarios.

Clean and annotated data – This is a precursor to the training. Any ML-based system needs clean dataset for it to be trained. Now, depending on the language, accent and domain – it can become a challenge to readily have the training dataset.

An Advanced Use Case:

The voicebot are being exceedingly used in industries to not just deliver a seamless experience to their customers, but also for authentication.

Caller authentication has been a major problem for call centers to solve, even more so for critical industries and operations like Banking, Insurance etc. According to a report by Pin drop labs, US companies are losing $14Billion every year to fraud attacks. Correct authentication is therefore the need of the hour for them.

Voicebot off late has been trained to understand voice frequencies to authenticate a caller. It is being used in combination with other authentication methods like phone number/account number, personal ID-based authentication, or what’s more common online, a personal Q&A-based authentication, like, what was your mother’s maiden name?

(Video) Chatbot Trends 2022 - Where is the journey heading? | Joachim Jonkers, Chatlayer by Sinch

Voicebot are going to be the next big thing in call centre authentication and certainly something to look out for.

What is a Chatbot?

Voicebot vs Chatbot: Which Bot is better For Your Business? (2)

A chatbot is a mode of communication that makes use of text messages. Similar to a voicebot, the chatbot also is an artificial intelligence software that can necessarily stimulate a chat or a conversation with the users in the natural human language. The conversational AI also ensures that the experience that chatbot gives is near human. The chatbot can be integrated with ease on websites, messaging applications (Facebook messenger, Whatsapp, WeChat, Slack, etc), mobile apps, and kiosks. These bots play a vital role in the simplification of the interaction of humans with computers and hence are highly beneficial in terms of customer interactions with the business, providing a high level of engaged self-service.

Benefits of Chatbot:

The advantages of the chatbot are as follows.

(Video) SentiOne - Voicebot & Chatbot - conversation with a bank assistant

  • Saves a lot of time – These bots save a lot of time, as the responses are prompt. Most importantly, the bots require minimal coaching during an interaction thereby reducing the time lag between the setup and productivity as compared to humans in this regard.
  • Customer satisfaction is increased – Due to the prompt customer support and the all-time availability chatbot serve as 24x7 self-service agent for customers that goes a long way in satisfying their need for urgency.
  • Workforce cost is reduced ­– A chatbot can easily take over the mundane and repetitive tasks of agents, drastically reducing the workload on agents and eliminating the need for extra staff for handling common queries during peak call hours. Needless to day, it can handover to Live agent with all the context of discussion with customer.
  • Wide range of application – The chatbot finds a wide range of application in departments across a company. A chatbot can be very well used for customer service, customer orders, advertising, employee assistant and in a number of other ways as well.

Voicebot vs Chatbot: Which Bot is better For Your Business? (3)

Chatbot - Challenges to overcome:

Responses are limited – Using a chatbot necessarily offers faster overall service but they are not perfect. The simple ones might have limited rule-based responses and hence they may not be able to answer every question. Even a conversational bot would need consistent training, so using a chatbot as an independent channel may take a longer time than other mediums of communication.

Frustration to customers ­– Due to the limited database of the chatbot, they may not be properly trained and cannot improvise. So, at any point in time, the bot gets confused or has no answer, and the conversation might run in a circle thereby creating a lot of frustration for the customers.

Use Cases of Chatbot:

While Chatbots are currently used for simple applications like order booking, appointment booking, or even basic support. But we have seen that companies are also finding it useful for employee helpdesk like IT, HR and for other departments. This way it helps reduce the manpower to provide support and provides an easy way for employee engagement.

(Video) free VoiceBot, chatbot, Virtual Assistant. Easy to use VoiceBot platform for your business.

Why Bots are the Biggest Trend?

In spite of the challenges of training a bot. They are still the most in-demand customer support tools today. According to a report by Acquire.io, 2018, "40% of their surveyed respondents said they chat with a chatbot on a daily basis". According to another report by the State of chatbot reports, 2018, "64% of internet users say 24-hour service is the best chatbot feature".

Author Bio: Akanksha is an IT enthusiast, having an experience of 7 years in marketing and promotion. She has experience in varied industries, in positions working across the line of marketing. She is a daydreamer, an avid reader and a crazy traveler when she is not working.

FAQs

Which chat bot is best? ›

Here are the 10 of the best AI chatbot platforms to build the exact right bot for your business.
  1. EBI.AI. EBI.AI have created their own advanced conversational AI platform that comes with a free trial. ...
  2. ProProfs Chat. ...
  3. Chatfuel. ...
  4. MobileMonkey. ...
  5. Aivo. ...
  6. ItsAlive. ...
  7. Imperson. ...
  8. Pandorabots.
Jul 12, 2022

Why is chatbot good for business? ›

Chatbots shorten the wait time by answering user questions in a flash. They collect insights about customers and their needs, helping your team reduce resolution time. Growing your business doesn't need to mean increasing costs. ChatBot enables you to scale your customer care without scaling up the headcount.

What is chatbot Voicebot? ›

A chatbot is a mode of communication that makes use of text messages. Similar to a voicebot, the chatbot also is an artificial intelligence software that can necessarily stimulate a chat or a conversation with the users in the natural human language.

Are chatbots successful? ›

Used as a targeted tool, chatbots can increase engagement up to 90% and sales by 67%. In 2020, 57% of businesses said conversational bots deliver substantial ROI for minimal effort.

How many types of chatbots are there? ›

This article aimed to help understand the two main types of chatbots: rule-based and AI chatbots. The latter has a much more complicated functionality and contextual awareness that require less training data and that can actually perform the task for the customer without any human assistance.

What are the disadvantages of chatbots? ›

Chatbots have limited responses, so they're not often able to answer multi-part questions or questions that require decisions. This often means your customers are left without a solution, and have to go through more steps to contact your support team.

What kind of businesses need chatbots? ›

There are also customized chatbots for different industries.
  • Chatbot Applications for E-commerce Industry. ...
  • Medicine Industry. ...
  • Chatbot Applications for Human Resource. ...
  • Chatbot Applications for Travel Industry. ...
  • Chatbot Applications for Real Estate. ...
  • Banking Industry. ...
  • Chatbot Applications for Hospitality. ...
  • Foodtech Industries.
Apr 11, 2022

What is the difference between a Voicebot and a chatbot? ›

The main difference between voicebots and chatbots is that the voicebots work on voice commands or directives, whereas chatbots don't.

How does a Voicebot work? ›

Voicebots are software powered by artificial intelligence (AI) that allow a caller to navigate an interactive voice response (IVR) system with their voice, generally using natural language. Callers don't have to listen to menus and press corresponding numbers on their keypads.

Is voice assistant and virtual assistant the same? ›

For example, chatbots are a text-based virtual assistant that simulates human-like conversations with users. On the other hand, voice assistants are virtual assistants that use natural speech to resolve queries and interact with users.

Do chat bots increase sales? ›

According to business leaders, chatbots increase sales by an average of 67%. a crucial fact for any company's revenue. Another important fact is that 69% of consumers prefer chatbots as a customer service channel.

Are chatbots profitable? ›

Chatbots are very profitable if you clearly know how to monetize them. You can either choose to use a single technique or even combine some. For instance, you can decide to make a helpful chatbot that generates leads and provide affiliate links. In this case, you'll increase the money you earn.

Do customers prefer chatbots? ›

68% of consumers like chatbots because they provide quick answers. Respondents in a survey by Userlike highlighted the fact that the chatbot answered quickly as the most positive aspect of their interactions.

What is the smartest chatbot? ›

15 top AI chatbot platforms:
PlatformRatings ⭐️Best for
DialogFlow4.3/5 (42 ratings)Businesses operating with Google Cloud
MindSay4.6/5 (41 ratings)Large businesses
Wati4.6/5 (76 ratings)WhatsApp customer service
Mobile Monkey4.9/5 (119 ratings)Customer service on social media
11 more rows
Aug 17, 2022

Why is chatbot needed? ›

Chatbots can improve lead generation, qualification and nurturing. Chatbots can ask questions throughout the buyer's journey and provide information that may persuade the user and create a lead. Chatbots can then provide potential customer information to the sales team, who can engage with the leads.

Are chatbots worth it? ›

Overall, chatbots are highly efficient. They don't require much in terms of ongoing effort, maintenance, or investment. They can also be used to handle an almost infinite number of customers simultaneously. They don't need to be trained and once they have a clear directive, they don't make any mistakes.

What is the future of chatbots? ›

The future of chatbots is that businesses will automate simple payments and allow users to pay directly over live chat or Facebook Messenger apps. The instant process makes the customer happy and improves customer satisfaction. MasterCard has also launched a chatbot, especially for customer payments.

Which industry uses chatbot the most? ›

According to an article in Retail Dive, retail industry is expected to be the leading spender on AI and chatbots by 2018 with an average of $3.4 billion. Banking and finance industry will rank the second with $3.4 Billion. By 2022, chatbots will be handling at least 85% of all customer service interactions.

How do you choose a platform on chatbot? ›

Looking for a reliable software vendor can be challenging, so we've listed the main criteria to take into consideration when choosing a chatbot development company.
...
Criteria to choose an NLU platform
  1. Natural language efficiency. ...
  2. How many languages are supported. ...
  3. Response time and scalability.
Aug 6, 2020

How do you select a chatbot? ›

An enterprise-ready AI-powered chatbot uses advanced Natural Language Processing to understand customer requests in their language and respond appropriately in a friendly and conversational way and should have at least an 85% accuracy in its ability to understand and respond to your customers.

What is text based chatbot? ›

As the name suggests, a text-based chatbot is the one that interacts and communicates through text or messaging. This type of bot can be useful when programmed to accurately understand the customer's need and provide immediate outcomes; or gather valuable feedback and ensure customers are engaged quickly.

What is a text bot? ›

What is a text bot? A text bot is a software tool that performs automated, conversational tasks. Text bots help brands engage with customers by sending automated texts and replies based on specific keywords and triggers in the response.

How do you make money with voice bot? ›

Step 1: Create an account to start monetizing your chatbot HERE. Step 2: Create a conversational ad agent and plug it into your chatbot. Step 3: You tell us where we can pay you. We pay once a month, and you earn anywhere between $0.10 — $0.85 per click.

Is voice bot on Telegram safe? ›

Security researchers have previously found Telegram bots that command and control malicious Android apps, and even exfiltrate data from Telegram chats through the Telegram bot API used by developers. Bots' deep integration into the app make them a popular pawn in attack strategies.

Where are voice bots used? ›

Role of voice bots in the retail and E-commerce sector

Using voice bots can enable customers to self-serve their queries. This will save agents' time and allow them to focus on more pressing customer problems. Voice automation can also supercharge sales and revenue for E-commerce companies.

What AI is better than replika? ›

The best alternative is Kajiwoto, which is free. Other great apps like Replika are Kuki, Cleverbot, Hugging Face and Fire. place. Replika is your AI friend that you teach and grow through conversations.

What is the best AI ChatBot online? ›

Top 12 Best AI Chatbots For 2022 [Review & Comparison]
  • Comparison of Best Chatbots.
  • #1) ProProfs ChatBot.
  • #2) Salesforce.
  • #3) Tidio.
  • #4) itsuku – Pandorabot.
  • #5) Botsify.
  • #6) MobileMonkey.
  • #7) Imperson.
Aug 26, 2022

What AI can I chat with? ›

8 Virtual AI Companions to Chat and Have Fun With
  • Replika. With over 10 million users, Replika is one of the most popular and advanced AI companions. ...
  • Chai. Using Chai, you can build and deploy your own chatbot companions. ...
  • Kuki. ...
  • SimSimi. ...
  • Anima. ...
  • Kajiwoto. ...
  • Cleverbot. ...
  • Boibot and Evie.
Jul 16, 2022

Videos

1. Best AI ChatBot | Landbot Review - Is it Worth Buying Landbot?
(Critaudit Reviews)
2. Contact Center ID&V using a Voice Bot with Salesforce
(Cognigy)
3. 🤖 Convert your Dialogflow Chatbot into a Voicebot that Answer Calls in a Few Minutes 📞
(Voximplant)
4. 3 Reasons Your Business Needs Userbot | Conversational AI-Powered Chatbot
(PitchGround)
5. Genesys Dialog Engine Bot Flows & Conversational AI
(InflowCX)
6. How to Build a Voice Bot in under 15 Minutes
(Cognigy)

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