19 July 2018
Freddie McMahon

94968

Freddie McMahon - DF2020 Ltd

45Posts 254,589Views 2Comments
Finextra community

Digital Banking Trends

Digital Banking trends and Industry Intelligence for Bankers, Fintechs, and Solutions Providers

Chatbots are growing and growing as a new form of intangibles

13 April 2018  |  6707 views  |  0

Chatbots are gaining more and more momentum throughout the public and private sectors, worldwide.

 

Now is the time to consider chatbots from a wider perspective.  

 

Chatbots are emerging as a new class of intangible assets. Typically, each industrial strength chatbot by its very nature contains measurable knowledge, applied in practice through dialogue.

 

Arguably, the largest category of intangibles as measured by volume is knowledge. It is also potentially the most valuable, which could supersede in terms of monetary value other forms of revenue generating intangibles such as patents.

 

There is a growing and growing number of tasks, which are knowledge-driven impacting employees, customers, suppliers and other stakeholders. Yet repeatable knowledge-driven tasks have been the most problematic intangible to create, share, measure and evolve.  This is now changing as chatbots gain momentum.

 

The deployment of chatbots for supporting knowledge-driven tasks is a huge transformational opportunity that has yet to be quantified from multiple perspectives.

 

The shift towards using chatbots as a working, measurable knowledge assets are a key enabler for digital transformation with the potential to kick-start material productivity improvements, which have been largely stagnant for some time, no matter the advances in technology. Using chatbots for knowledge-driven tasks potentially changes every workflow. One target is to replace the data input form, which no one likes using. The data form is at least an 190+ year old instrument, apparently  designed by Charles Babbage that is hardwired into conventional thinking. Indeed, the data form should be a red lined as it ought to have no place in any digital transformation solution.     

 

In terms of intangibles, there will naturally be many chatbots that would be regulated to a junk classification. However, there is a growing and growing number of chatbots that are working, measurable knowledge assets leading the way to revolutionise the way we perform knowledge-driven tasks.

The implications are enormous as Knowledge Capital becomes a reality.  

  

 

TagsBlockchainInnovation

Comments: (0)

Comment on this story (membership required)

Latest posts from Freddie

The Normalisation of Procedural Subjectivity

06 July 2018  |  4659 views  |  0 comments | recomends Recommends 0 TagsArtificial IntelligenceRisk & regulationGroupFinextra site news

Chatbot Natural Language Processing Unabated Hype

15 June 2018  |  5479 views  |  0 comments | recomends Recommends 0 TagsArtificial IntelligenceInnovationGroupFuturistic Banking

Freddie's profile

job title Chatbot Thought Leader
location London
member since 2017
Summary profile See full profile »
Pioneering RegTech Chatbots http://www.chatbotauthor.ai/ http://www.df2020.com/ http://www.chatbotinsider.ai/

Freddie's expertise

Member since 2017
22 posts2 comments
What Freddie reads

Who's commenting on Freddie's posts

Dharmesh Mistry
Ketharaman Swaminathan
Balwant Surti
Emmanuelle Johaadien