What is a ChatBot

What is a ChatBot? That is a good question. You have probably encountered hundreds of ChatBot’s in your everyday life and not known that it was a ChatBot or not a real live human being. Let me give you an example. You are at your computer working on a research project and you encounter a pop up screen asking if you need any help or guidance. Maybe you are on your way to a theatre and a popup chat dialogue box and you book a car ride to the theatre via the chat screen on your favorite ride sharing app. Or you may have ordered food through at your local neighborhood coffee house and received a response telling you when your order will be ready and how much it will cost. These are all real life examples of when you probably interacted with a Chatbot.

How do Chatbots Work?

Driven by AI, rules, natural-language processing, and machine learning, chatbots process input to deliver smart responses to commands of all sorts.

There are two main types of Chatbots

1). Task-oriented ChatBots: These are single-purpose programs that focus on performing a single function. Using rules, a little machine learning, and natural-language processing they produce automatic and conversational responses to user input. The interactions with ChatBots can be very specific but structured. You will encounter these types of Chatbots in robust and yet interactive Frequently Asked Question sections of your favorite service, company, or food service. These task oriented chatbots can process simple and common queries by humas, such as what are the hours of the business or relatively straight forward inqueries that do not require a variety of questions or variables in the responses. Though they do use Natural Language Processing so the customer can experience them in a natural conversing style, their total capabilities are fairly limited. These are the most commonly used Chatbots employed in the Real Estate Industry.

While these are the most common type of ChatBot, ChatBot 360 is different and serve Realtors better because Chatbot360

2). Data-drive and Predictive (Conversational) chatbots: These are often referred to virtual or digital assistants. They can be much more sophisticated, personalized, and can be much more interactive than the task-oriented ChatBots. These ChatBots are much more contextually intelligent and aware of the conversation tone and intention. They leverage Natural Language Understanding, Natural Language Processing, Artificial Intelligence and Machine Learning to figure out and learn as they go. They apply intelligence that is predictive and analytics that enable and enhance personalization solely based upon the profile of the end user and past user behavior. ChatBots can intelligently absorb and process a user’s preferences over time, provide recommendations, and ultimately anticipate the end users needs. They can also initiate conversations based upon past history and build predictive behavior

models and anticipate when an end user needs a product or service. Amazon’s Alexa, Apple’s Siri, and ChatBot360 are excellent examples of end user-oriented, data-driven, and predictive chatbots.

Using conversational language that you would expect from a real live person, ChatBot360’s personal bot engages the prospect to prequalify the prospect and determine what are their real estate desires. The bot delivers the information seemlessly and naturally like a real human conversation while giving the prospect the information they want without having to go through any unnecessary hoops or hurdles like downloading an app.