The rising demand for best-quality customer services for serving customers 24/7 has given rise to a new field – conversational AI platforms. The automation of customer service has been sparked due to revolutionary technology introduced by the conversational AI platforms. With the rising demand for query solving by the customers in the customer-centric market, the rapid advancements have led to the latest technology. It can be considered as the diffusion of technology with traditional customer service.
To offer personalized and individual level services, the conversational AI platforms were seeded. With the use of the speech-based supports, chatbots were initiated to mechanize the correspondence. This has helped the B2C organizations in effectively handling the customer 24/7 without any issues.
This technology has helped in reaching out to the customer as per their preference. This makes the customer experience memorable and generates a loyal customer base. Conversational AI platforms are the latest type of Artificial Intelligence that permits individuals to collaborate with applications, sites, and gadgets consistently with the assistance of voice, text, contact, or signal data.
Growth of conversational AI platforms
The businesses have leapfrogged beyond expectations. Due to the inclusion of Natural Language Understanding (NLU) in the customer services, the demand for this technology has quadrupled after the results were made public by the initial stage users. Conversational AI platforms help in interacting with customers at their own pace and in their dialect, finally churning out useful information about the customers’ expectations from the brands.
Experts at Verified Market Research found out that the Global Conversational AI platforms market was valued at USD 3.89 billion in 2019. With the surge in its demand, the market is ballooning with every business quarter. The market cap is projected to reach USD 18.02 billion by 2027, growing at a CAGR of 21.02% from 2020 to 2027.
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Creative Virtual
Creative Virtual is one of the leading players in the conversational AI platforms’ self-service solutions. It thrives to bring together humans and artificial intelligence. This way, the organizations can connect with their customers anywhere, anytime leading to long-lasting engagement. The company has been offering its services to global organizations such as HSBC, BT, Chase, InterContinental Hotels Group, and Lloyds Banking Group. These organizations have been taking advantage of the ground-breaking technology to improve their support experience along with reducing costs, increasing sales, and building brand loyalty.
Amazon Web Services
Amazon Web Services needs no introduction. It is the leading customer services provider that has been experimenting with the latest technology to offer the best customer experience to its customers across the globe. It is leading the race of conversational AI platforms.
Microsoft
Microsoft is another big name in the list that has become a household name due to its world-class services. It has been leading the customer service industry for decades and has managed to rule it by offering 100% satisfying results throughout the customer journey (one of the oldest technological giants in the conversational AI platforms).
Oracle
Oracle is one of the major tech corporations specializing in cloud technology. Along these lines, it has stepped into the AI-based technology industry (specifically conversational AI platforms) to offer leading services for improving the customer experience through the use of technology.
IBM
IBM has been believing in regular progress. Thus, it has always introduced unique products and services with the use of the latest innovative technology. The auto-bot technology is a groundbreaking technology that came into existence after IBM fused the AI technology with speech recognition – the ground-breaking invention in the conversational AI platforms.
You name it, this company has it – Google. This is the leading technology giant (most innovative in the list of conversational AI platforms) that regularly experiments with technology to come up with unique combinations to ease the existing norms along with reducing the complexities of different markets.
SAP ERP
SAP ERP is the leading conglomerate that has deep roots in the tech sector. It has been amazing the market with fresh and unique combinations of technology. From cloud technology to speech recognition, it offers best and most reliable tech support for boosting the customer experiences (conversational AI platforms).
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Baidu Inc
Baidu Inc has been regularly making life simpler by clearing the complexities of businesses using technological advancements. The company focuses on building the best technology, among the leading conversational AI platforms, the world has ever seen, just like the meaning of its name.
Nuance
Nuance is the pioneer and leader in conversational AI innovations. It has been striving to bring intelligence to everyday work and life. The company envisions delivering leading solutions that solve everyday problems.
Haptik
Haptik is an artificial intelligence company boosting the conversational assistants for global level brands that are pushing themselves for transforming the customer experiences.
Technological future of conversational AI platforms
The fate of the world is by all accounts in the possession of Artificial Intelligence, popularly termed as man-made brain power. From behemoths like Amazon and Alibaba to newbies across the globe, every business is embracing the conversational AI technology. Rising demand for this technology reveals that the companies have started focussing on offering best customer services, essential for client retention. This will surely help in dazzling the clients as well as buyers in the offing.
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