As technology improves with natural language processing and AI, chatbots will take away revenue from other marketing channels, a recent study examining retail brands by Juniper Networks claims.
In fact, retail sales from chatbots will nearly double annually, reaching $112 billion by 2023, the study says. And retailers will see an increase in savings, thanks to the automation of customer sales and support processes.
“Retailers can expect to cut costs by $439 billion a year in 2023, up from $7 billion this year, as AI-powered chatbots get more sophisticated at responding to customers,” Juniper said.
