Rising consumer demand for efficient and personalised interactions with banks and retailers has led to a surge in the development of digital assistants and chatbots, writes Barclaycard’s managing director of future payments Nick Kerigan and director of future payments Sanjaya Shrestha.
With the role of assistants like Amazon’s Alexa and Facebook Messenger’s Chatbot only set to increase, it is less a case of whether conversational commerce will take off but, rather, how quickly the technology can adapt to meet the needs of a wide consumer base, they say.
Identifying the benefits of different approaches to conversational commerce, Kerigan and Shrestha explain the differences between digital assistants and chatbots and the scenarios in which they might be used most effectively. They then show how machine learning solutions can be used to harness data and further enhance user experiences of conversational commerce and customer support by responding more efficiently to consumer interactions.
This article has been written by Barclaycard’s managing director of future payments Nick Kerigan and director of future payments Sanjaya Shrestha and forms part of NFC World’s What’s New in Payments report.
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This eight-page document is available free of charge to NFC World Knowledge Centre members (PDF format, 1.5MB).
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This item is part of the What's New in Payments Knowledge Centre.