Financial services chatbots need all the data they can get to succeed

The global chatbot market will be worth nearly $1 billion by 2024, reports Tech in Asia

Bots are going ballistic. Transparency Market Research predicts the global chatbot market to be worth nearly $1 billion by 2024. And according to bot specialists Personetics, there will be a surge in chatbot companies considering entry to the conversational financial bot space in the next 12 months.

But how can chatbots become effective? How will they engage audiences and transform personal financial management (PFM) into intuitive personalised digital assistance?

The appeal of messaging apps

Millennial tastes explain Facebook’s bot appeal. Facebook Messenger has over a billion monthly active users and more than 30,000 chatbots. Facebook beneficiaries include MasterCard, which will use artificial intelligence