Recent developments in AI chatbots,

* AI chatbots as we see now have got their popularity by the advancements in the fields of natural language processing (NLP), Large Language Model (LLM) and machine learning.

* Some of the giant companies like OpenAI, Google, and Microsoft have released more complex and advanced AI models, such as GPT-4, Dall E, ChatGPT and Gemini, which can understand, process and generate human-like text more effectively and reliably.

* In recent days AI chatbots are widely used into various sectors and industries, including customer service, healthcare, education, personal assistants and research & development, offering contextual understanding, emotional understanding, and the ability to handle complex conversations.

Benifits of AI Chatbot:

1. Efficiency: Multiple queries can be managed at the same time by AI chatbots hence reducing wait times and operational costs for businesses.
2. Availability: AI chatbots offer continuous support and availability, improving customer satisfaction and providing immediate assistance regardless of time and space.
3. Personalization: Some of the advanced chatbots can customize responses based on user data, leading to a more efficient and user engaging experience.
4. Scalability: Businesses can easily scale support operations without a corresponding increase in man power, allowing them in better resource allocation.

Some of the disadvantages we should keep in mind while using AI chatbots:

1. Privacy: AI chatbots handling and managing sensitive data creates a significant privacy and security issues, thus robust data protection measures are required.
2. Bias: AI models can inadvertently reflect the biases present in their training data, leading to unfair, false or biased responses.
3. Dependence: Becoming over dependent on AI might reduce human oversight and the quality of personalized human interactions.

These are some of the developments highlight of the potential of AI chatbots to revolutionize interactions while also posing ethical and social challenges that must be managed and handled carefully.