Chatbot technology is a key part of promotion and marketing

06-09-17
Chatbot technology is a key part of promotion and marketing chatbot technology AI technology CEO of Microsoft Angels in the city action.ai Industrial Strategy Challenge Fund LBA Private investors London Co-Investment Fund R&D tax credits

Chatbots have been with us now for some time and they are growing in importance. They are being actively used in

  • Retailing
  • Facebook Messenger
  • Banking
  • Ticket booking
  • Food ordering
  • Medical
  • Teaching

And a long list of other areas. Development of chatbot technology and increasing use of chatbots is viewed by the CEO of Microsoft as the “next big thing” (Source: Banking on bots - Microsoft Enterprise

What is driving this change is a big shift in people’s habits. People are spending more time on instant messaging platforms and are interacting a lot of the time with intelligent chatbots. The intelligent chatbot can deliver an intuitive experience which can help gain a potential customer and deliver a good impression to the user.

The development of this new technology is being driven by some large Companies but also by a large number of smaller entrepreneurial Companies. Take for example the London based business action.ai which recently raised £515,000 from investors including Angels in The City, LBA Private investors and the London Co-Investment Fund. They have developed a technology platform that can sit alongside Microsoft, Facebook, IBM and others.

They estimate that the market for high quality smart chatbots could be worth over £200bn by 2020 (Source: UKBAA article by LBA:  Angels in the City and LBA syndicate back action.ai to revolutionise AI-driven interaction)

If you are developing new Chatbot technology or AI technology there is a keen appetite amongst small and larger investors.

There is also significant Government funding available as part of the flagship Industrial Strategy Challenge Fund. And it’s worth looking at claiming R&D tax credits as another valuable source of extra funding.

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About the author

Linda Eziquiel

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Hi, I'm an R&D tax credit claims specialist, helping companies save thousands of pounds by reducing their corporation tax payments, or if they are loss making helping them get tax credit cash payments.

I'm proud to have:

  • Personally helped over 100 companies make successful R&D tax credit and relief claims.
  • With RandDTax (our company) - gained in excess of £75m for more than 920 companies since 2012.
  • Published an online course for accountants on Claiming R&D Tax Credits (see my publications).
  • Run dozens of CPD workshops for accountancy firms on Claiming R&D Tax Credits.
  • A 100% success rate across all my clients' R&D claims - covering a very wide range of industries.

  Find me at: http://www.cobizfunding.co.uk


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