Chatbot startups Digit and Cloe are working to help people save, and recommend how to spend, with easy-to-use chatbots. Though bots may be limited relative to apps, they can be highly effective for processes that can be done efficiently without logins, app updates, and other features inherent to apps
There are potential drawbacks for companies looking to occupy this space, particularly in terms of developing a business model. Or, you know, making money. While Digit relies on accrued interest for revenue, Hildebrand was cagey about how Cloe might one day monetize. In my opinion, it is difficult to imagine how advertisers would fit into the picture without feeling intrusive. After all, your text-message log is probably the most intimate space on your phone. Done well, though, texting apps have a lot of utility. "That tiny little experience is the hook that gets people addicted to using Digit," says Bloch. "We already live in our messaging app. We open that thing up like 28 times a day."