A decade ago, if you had asked someone how they felt about talking to a machine, the answer might well have been negative. Yet, today, we happily follow directions given by the voice on Google Maps. While that voice is undoubtedly the most well-known and widely used Chatbot around, others like Siri and Alexa are not far behind in terms of usage by the common people, across the world. In fact, according to Gartner, 65 percent of smartphone owners already use voice assistants on their phone.

Simply put, Chatbots are software programs that we can interact with through text or voice. Corporates too are slowly but surely adopting Chatbots to solve their everyday customer service problems. This is especially true of financial institutions that are looking to build innovative customer experiences using Chatbots, virtual assistants, and voice. Chatbots are also being used to cut costs in job roles that can be automated.