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Why should businesses consider chatbots?

3 minutes, 10 seconds read

Imagine you’ve recently started an online fresh vegetable business. You have a catalog for fruits and vegetables explaining price and availability. Although most of the information is clearly mentioned on the website, you get hundreds of emails and phone calls regarding deliveries, discounts, and availability of your services in a particular location. Now, you could appoint someone for customer support and reply to these queries or simply — can implement a chatbot on your app and website that instantly answers such routine questions.

[Related: Conversational Chatbots for SMEs to continue business from home]

Chatbots for business are the need of the hour. The reasons are obvious. It is efficient, reduces workload, and responds to customer requests immediately. Nearly 1 in 4 customers have interacted with a brand via chatbots in the past 12 months, according to a Salesforce study published in late 2018. 

As more and more customers are using e-commerce and digital medium for purchases, the incoming requests have also increased at the same rate. Companies need a larger workforce to handle customer support, failing which may lead to dangling customer satisfaction. Immediate query resolution also implies better customer experiences.

chatbots for business

Chatbots for business: benefits at large

1. Humanized conversations

NLP-powered chatbots have the power to initiate and handle conversations with humans based on a set of predefined rules and upgrade its dictionary based on learning. Chatbots are a game-changer in terms of overall customer satisfaction pushing the market to reach 1.34 billion by 2024. As per the reports, smart chat agents will manage 40% of mobile interactions by 2020.

2. Easy to implement

A myth surrounding chatbots was doing rounds that it is expensive and exclusive to only fortune 500 companies. But, this is no more the case as it is predicted that by 2020, 85% of the chat interactions will be automated and will not need human intervention. In recent months, several new players like the virtual banker and progressive native chat have introduced schemes that help companies to set up chatbots instantly with reasonable investments. Also, 10K+ developers are building chatbots with the Facebook messenger.

3. People prefer self-serve interactions

Today, millennials represent 27% (2 billion) of the global population. This tech-savvy generation prefers immediate resolution to their concerns and instead of talking to the support, they’re happy about settlements over chats.

Making a customer happy is what all businesses need, and chatbots serve this purpose adequately. They are capable of resolving customer queries in just a few seconds, eliminating wait times and queues. It is a win-win situation for both the consumer and the provider as the customer gets instant replies and the provider saves on operational costs. By the end of 2018 automated customer agents will be able to recognize their customers through voice and face recognition.

AI Chatbot in Insurance Report

AI in Insurance will value at $36B by 2026. Chatbots will occupy 40% of overall deployment, predominantly within customer service roles.
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4. Fact-based decision making

All the conversations accomplished through chatbots are recorded and this contributes to the database for training future NLP models for more humanized conversations. Also, the data collected can help identify business bottlenecks and customer preferences towards specific products or services. All these, sum up to providing fact-based analytics for effective decision making.

5. Continuous innovations

Chatbots are here to stay. The innovations around chatbots are still in progress and time is not far when one will witness intelligent bots capable of resolving complicated issues on its own. We’ve already seen voice and vernacular chatbots in the market. 

Big Techs are working on AI and machine learning to make smart chatbots that can offer much more than simple answers. If you haven’t thought about chatbots yet, then certainly you are missing on a significant business opportunity.


The significance of chatbots is already depicted in banking and marketing, and with time its influence will subsequently increase. Customers also expect chatbots and automated assistants from their business providers. They like to engage in live-chat as it helps them to get answers to their queries instantly. As of now, chatbots are only used for simple conversation. But, in the coming future, it will handle complex decision-making tasks. Any business that wants to evolve should consider chatbots and make it an integral part of their business.

We’re the makers of the world’s first insurance-specific chatbots. For further queries, please feel free to reach out to us at hello@mantralabsglobal.com.

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What If the Sun Took a Day Off?

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Ever wondered what life would be like if the Sun took a day off? Picture waking up to an Earth shrouded in darkness, where temperatures drop dramatically within hours, plunging the planet into an icy chill. Plants, deprived of sunlight, would halt photosynthesis, leading to a food production crisis. Our reliance on renewable energy would face a sudden halt, causing widespread blackouts and chaos in cities across the globe.

A day without the Sun would throw our world into chaos! Luckily, that’s never going to happen (at least in our lifetime!). But this thought experiment underscores the Sun’s critical role in our lives and highlights why harnessing solar energy is so vital. While we’re increasingly turning to solar power, we are still missing out on capturing a massive amount of solar energy that falls on Earth every single day.

How Much Solar Energy Are We Missing Out On?

Every day, the Earth receives about 173,000 terawatts of solar energy from the Sun—more than 10,000 times the world’s total daily energy consumption. Despite this abundance, we only capture a tiny fraction of this energy. In 2023, solar energy accounted for just 4.5% of global electricity generation—a huge opportunity waiting to be tapped.

If we could capture just a small percentage of the Sun’s energy, we could power the entire world many times over. The total solar energy that hits the Earth in just one hour could meet the world’s energy needs for a full year. Yet, due to limitations in solar panel deployment, technology efficiency, and energy storage, the vast majority of solar energy goes unused each day.

As we improve solar technology and infrastructure, capturing more of this energy becomes not just a possibility but a necessity for a sustainable future. Let’s dive into how cutting-edge technology is making solar energy more accessible and efficient, helping to turn this untapped potential into real, usable power.

How Tech Makes Solar Adoption Easier

Customer-centric technology is revolutionizing the way we adopt solar energy. Imagine an app that allows you to simply point your smartphone at your house to estimate how many solar panels you need, their ideal placement, and the energy they can generate.

Here are the key benefits of this innovative approach:

  • Precision: By capturing images of your property through satellite, the app calculates the optimal placement of solar panels for maximum energy production. Studies have shown that precise placement can increase efficiency by up to 20%.
  • Customer Engagement: Users receive real-time insights into their energy production, helping them understand their solar power system better, whether they’re using Tesla solar panels, solar power generators, or even solar attic fans to optimize home energy usage
  • Seamless Experience: With user-friendly interfaces, consumers can easily monitor their solar systems remotely and receive updates on their energy output. This accessibility is crucial for encouraging the wider adoption of solar technologies.

The Tech-Driven Shift Toward Sustainability

As solar technology evolves, so do the solar panels themselves. Innovations like Tesla solar roof systems, flexible solar plates, and bifacial panels are redefining what’s possible in renewable energy. Even smaller systems—such as portable solar generators and solar air conditioners—empower homeowners to harness solar power efficiently.

Photovoltaic (PV)  panels, the cornerstone of solar energy, have seen incredible advancements, now boasting efficiencies of up to 22%. This means fewer panels are needed to produce more energy, making solar energy more effective for a wide range of applications, from solar shingles to off-grid systems.

Moreover, the push towards cradle-to-cradle sustainability is reshaping the industry. New solar panels are being designed with recyclability in mind, reducing their environmental footprint. Innovations in recycling technology now recover up to 95% of materials from end-of-life panels, ensuring that even the oldest solar systems contribute to a greener future.

While solar technology continues to advance, solar panels themselves are becoming more efficient and environmentally sustainable. Innovations such as systems, flexible solar plates, and bifacial solar panels are pushing the boundaries of what’s possible in renewable energy. Even smaller systems like portable solar generators and solar air conditioners are empowering homeowners to tap into the power of the Sun efficiently and sustainably.  Photovoltaic (PV) panels, the cornerstone of solar energy – now boast efficiencies of up to 22%​. This means a smaller array of solar panels for home or commercial use can generate more electricity. This makes solar energy systems more appealing and effective for various applications, from solar roof shingles to off-grid solar systems.

Moreover, the move toward cradle-to-cradle sustainability—where solar panels are built from materials that can be easily recycled—has gained traction. This reduces the environmental footprint even further. Innovations in recycling can recover up to 95% of materials from end-of-life panels, According to PV Cycle​, with room for improvement in recycling.

Making Solar Affordable and Accessible

Historically, one of the biggest barriers to solar adoption has been the cost. But things are changing fast. Innovations in financing models, such as Power Purchase Agreements (PPAs) and solar loans, have significantly reduced the financial burden of installing solar systems. According to the Solar Energy Industries Association (SEIA), the average cost of solar installation has dropped by over 70% in the last decade.

Couple that with federal and state incentives like the Investment Tax Credit (ITC), which provides a 30% tax credit on solar installations, and solar energy is more affordable than ever. Net metering programs, which allow homeowners to sell excess energy back to the grid, further enhance savings, making solar not only accessible but also financially rewarding.

Conclusion

The future of solar energy goes far beyond rooftop panels—it’s about making the entire solar experience intuitive, accessible, and sustainable. With smart apps and tech-driven tools, consumers can now manage their solar energy systems with just a few taps on their phones, making the shift to green energy simpler and more engaging.

At Mantra Labs, we’re at the forefront of this solar revolution. We’ve helped some of the world’s largest solar providers develop cutting-edge, customer-friendly solutions. Our mobile apps allow users to estimate solar panel needs, monitor system performance, and even track their environmental impact—all from the convenience of their smartphone.

Together, with innovative tech and a commitment to sustainability, we’re building a future where solar energy isn’t just an option—it’s the smarter, more accessible, and greener solution for everyone.

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