Softwares with automated updates are changing the way users communicate via technology. An industry which is growing leaps and bounds is the supply and logistics industry. According to ICRA, the Indian logistics sector will grow 8-10% annually, surpassing the five-year CAGR that preceded it.
The demand for auto-updated software and 24*7 customer assistance at an affordable price is driving the increasing need for chatbots. Additionally, digital assistants’ learning algorithms to develop human-like conversational experiences is now a core competency that many top companies need in order to streamline their support procedures. A report by MarketsandMarkets on the Chatbot Market states that the market size will grow to USD 9.4 billion by 2024 at a CAGR of 29.7%. With such a surge expected in the future, sectors like logistics are increasingly turning to digital assistants, chatbots and virtual assistants in order to implement real-time communication technology. And what better platform to integrate your business chatbot on than the most popular messaging channel in the world; WhatsApp!
There is no doubt that chatbots have enabled automation and smoothened consumer interfacing processes in every industry. According to Statista, the overall chatbot market is expected to reach $1.25 billion by 2025 compared to $190.8 million in 2016. The number is huge, as is the impact.
The role of conversational messaging and conversational AI-powered chatbots in logistics and supply chain management cannot be emphasised enough. The automation process facilitates smooth operations and reduces costs as well as chances of errors while increasing efficiency. With a growing demand in production and a higher demand for shipping, more and more businesses are turning to Conversational AI in order to save time. In fact, with many companies expanding their services to wider audiences using marketplaces like Amazon and Flipkart who have been steadily improving customer service through technological assistance, the necessity of physical services for errands is becoming obsolete.
Adopting conversational automation with the help of conversational messaging and chatbots is the need of the hour for the logistics and supply chain management industries.
The sheer demand for cutting-edge technology in the logistics and supply chain industry is at an all-time high. According to McKinsey, the logistics industry can generate up to $2 trillion every year in economic value simply by adopting conversational AI.
The idea behind conversational AI in logistics is to automate repetitive processes and attempt to eliminate human errors. In this article, we’ll examine the many ways conversational AI is revolutionizing the realm of logistics and supply chain and discuss its use-cases in the practical world.