Pros And Cons Of Chatbots And Is This Trend Here To Stay?

Chatbots are becoming increasingly popular in the financial services industry, offering 24/7 customer care and the potential to bolster brand loyalty. However, they may struggle to understand complex or context-specific questions, leading to frustration and a negative impact on brand loyalty. A recent survey revealed mixed sentiments about chatbot interactions, with 50% expressing frustration. Generative AI like ChatGPT could reshape consumer expectations and chatbot deployments, improving personalization, contextualization, and accuracy.