Chatbots are becoming increasingly popular. Many businesses, including several financial institutions across the globe, are adopting this type of artificial intelligence (AI) technology to simplify business process; however, with an increase in the prevalence of cybercrimes around the world, many users have expressed concerns about the security of chatbots.
The Concept of Chatbots
Most businesses cannot survive without effective customer interaction. And the business world has become so competitive that unsatisfied customers are willing to make a switch to the next competitor offering the same products with better and responsive customer service.
Customer experience has been a major challenge for both large firms with a high customer base and small companies with little capital to manage their growing numbers of customers. Employing more customer service agents might solve the problem but is not a cost-effective option.
The concept of chatbots is simple – to help businesses to improve consumer interaction, thus making it possible for them to save money. Chatbots are created to help reduce the workload on employees, and they are highly responsive and save time. They can help customers to make certain transactions such as payments and checking of the account balance.
Chatbots can range from simple to advanced technology, with the former capable of understanding conversational phrasing sent by users. And guess what, they can develop and grow because they are programmed to learn from previous interactions. In fact, to demonstrate the extent to which chatbots have increased in popularity, hospitals now use them to automate the process through which patients book appointments with a doctor.
How Chatbots Are Secured
It is common for people to worry about the security of such emerging technology. Chatbots have been around for a while but are still new to many users. However, the increase in cybercrime across the globe calls for concern. There is need to evaluate and know if these systems are engineered to protect valuable information of users.
The manner in which the technology is secured in the financial world is in line with the rules and regulations of the sector, which is partly to protect customer information from third parties. Chatbots have made it possible for users to check bank account balance on social media platforms like Facebook, bypassing rigorous verification processes.
However, one of the ways these bots are secured is through a process called authentication and authorization. A user’s identity has to be verified before any information requested can be provided. A token which expires after some time is given to the user and can be used to initiate payment. But once the time elapses without using it, a new one has to be generated.
Chatbots are also secured through a biometric authentication process whereby the user is allowed access once the fingerprint matches the one previously stored by the system. It is said that no two humans have the same fingerprints even if they are identical twins. This makes the biometric authentication process secure. Facial recognition technology is another authentication process that the bots can use to secure information of users and is one of the newest security technologies used by the latest model of the Apple iPhone.
In addition, the conversations between the chatbots and users are encrypted. There is no way a third party can access them unless they are physically present on the user’s end.
Chatbots’ ability to permanently delete conversation between them and users is another way to protect users from cybercriminals who think they are smart. Once the conversation is over, the system automatically deletes everything so no one can track them.
Chatbot Security Concerns to Know
Users who are scared of data breaches or giving out important information to scammers during a conversation with chatbots have nothing to be afraid of. Chatbots are well secured. They protect user information from criminals, so it is safe to interact with them or integrate them into your business.
One has to be very careful online. Only open links and text messages sent by people you trust so your system won’t be compromised. It is also important to ensure that operating system and security features of your computer are updated regularly to prevent attacks.
Passwords should be strong. It is not enough to make use of just your names and date of birth or phone number. Use long passwords or phrases that are easy to remember but difficult to guess. And avoid using the same password for all your accounts.
A lot of companies are already reaping the benefits of chatbots. It is a highly beneficial technology for businesses that have a large number of customers they interact with on daily basis, and in terms of security, these helpful bots are well secured. Irrespective of business size, you can integrate this AI-powered technology into your business to save time and allow better customer interaction.
About the Author
Amber Wilson is an educator and a digital strategist at ThesisHelpers. She is a technophile and believes that the best thing about education is that ancient meets modern, traditional meets innovative and older generation meets youth.