openPR Logo
Press release

Chatbots - Taking the Tech World by Storm

11-15-2018 04:57 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Analytics
Chatbot Market in BFSI

Chatbot Market in BFSI

Advancements in the subfields of machine learning (ML) such as deep learning and deep reinforcement learning have enhanced the artificial intelligence (AI) tasks such as natural language processing (NLP), automatic speech recognition (ASR), and text to speech synthesis (TTS), and more.

Access Full Summary: https://www.alliedmarketresearch.com/chatbot-market?utm_source=openpr

One of the important objectives in AI has been to develop systems that carry out human-like conversations with users. And the progress made by AI has made the achievement of this goal possible. How? Well, through chatbots – a computer program that can carry out conversation with a user through messaging apps, chat windows, or by voice. The chatbot gives smart and relative responses using the same applications back to the user. Chatbots can be thought of having three parts – interface, intelligence, and integration. Interface lies between the user and the chatbot through a messaging app.

Intelligence helps the chatbot to grasp and solve customers’ issues as well as learn from each interaction. Integration refers to the incorporation of the chatbot with other systems and platforms so that the chatbot can gain access to information from different sources to perform more complex tasks. Chatbots have a wide range of applications. They help deal with many routine queries, make it easy and fast for customers to reach you, and provide a way for companies to understand how the rules of digital customer service change with changing AI era. They also help users with making information requests, payments, or ordering and making reservations.

Request Sample Report: https://www.alliedmarketresearch.com/request-sample/2415?utm_source=openpr

Chatbots are rapidly gaining popularity in the tech industry. The rise in messaging apps, advancements in AI and cognitive technologies, a wider reach for automation, the growing need for improving customer relationship management (CRM), benefits offered by chatbots over other customer support options, and surge in the integration of chatbots with social media is driving this trend. A report by Allied Market Research states that the global chatbot market is expected to garner $2,186 million by 2024, growing at a CAGR of 29.7% from 2018 to 2024.

To help businesses attain greater productivity and enriched user experience, a handful of technology companies are coming up with innovative chatbots. In October ’18, the multinational technology company, Oracle, introduced a chatbot called Digital Assistant that is AI-optimized to automate routine tasks. botique.ai, a company that specializes in Conversational Artificial Intelligence, unveiled its chatbot platform that enables organizations to add intelligent and conversational features to their customer engagement channels.
Oracle Unveils Personalized Digital Assistants to Automate Tasks
Oracle recently revealed its Oracle Digital Assistant, which helps employees make user engagement easier, and enhance their efficiency and productivity. The product uses AI to comprehend context, derive intent, and learn user behavior.Designed using Oracle cloud infrastructure, the assistant enables communication through the voice interface and supports messaging platforms such as Slack, Facebook Messenger, WeChat, and Alexa. With built-in analytics, the assistant lets companies keep track of usage to gain information about user behavior and app performance for analysis and self-enhancement.

Botique.ai Sets its Chatbot Platform in Motion to Bolster Customer Engagement
The innovative chatbot platform by botique.ai, which is based on artificial intelligence, features multilingual support, QuickPredict feature for keywords and alternative question suggestion, a dashboard for managing numerous chatbots, importing and editing, a live chat element, and real-time analytics and reporting support. The AI-enabled product performs real-time communications efficiently for businesses by managing the tedious and repetitive questions that are otherwise handled by human agents using various messaging platforms.

The QnA chatbot can be trained and deployed quickly and allows for automation of conversations with customers, re-engagement of bouncing traffic on businesses’ websites, and lead generation. Yoav Yanovski, the company's CEO says, “The new ‘Chatbot as a Service’ platform enables businesses to deploy AI-powered Chatbots for Customer engagement in a few steps, without the need to write any line of code, or to dig into archived data and conversations history to train the AI. Even with no exposure to programming, businesses can easily deploy a natural language processing (NLP) powered Digital Agent using our wizard, import & connect the business content and publish the Agent to a Website or Social Media channel with a single line of code.”

The advent of chatbot technology has redefined communication and services in businesses. As the industry grows, more competitors will make their entry in the market and growth will be exponential.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Chatbots - Taking the Tech World by Storm here

News-ID: 1371187 • Views: 299

More Releases from Allied Market Research

Solar Water Heater Market Projected to Cross $6.7 Billion by 2027
Solar water heater is a device, which captures sunlight to heat water. It collects heat with the help of solar collector, and the heat is passed to the water tank with the help of a circulating pump. It helps in energy consumption as solar power is free in contrast to natural resources such as natural gas or fossil fuels. Surge in demand for water heating systems in isolated and rural
Floating Wind Turbine Market Projected to Cross $30.6 Billion by 2027
Growing concern from government across the globe regarding renewable power source is anticipated to boost the floating wind turbine market growth. In addition, around 80% of the offshore wind resources are located in waters of more than 60 meter depth, where fixed off shore turbine is not effective. As the floating structure can harness wind resources even at deep water level, it is more effective in narrow continental shelf region
Robot End Effector Market Analysis and Industry Forecast, 2021–2030 | By Type, …
Robot end effector is a robotic device fixed on the end of a robotic arm, which reacts to the operating system around the robot. It is used for operations such as picking & placing objects, assembling product pieces, and stacking cartons & parcels. Robot end effectors that are fixed on robot arm and act in coordination with grippers, process tools, and sensors. Download Sample Report @ https://www.alliedmarketresearch.com/request-sample/12896 The robot end effector
Hacksaw Blades Market Projected to Reach $ 1,560.7 Million by 2030
The hacksaw blade is made of nitrated steel, cast iron, aluminum brass, and stainless steel. The teeth on the hacksaw blades are the major cutting elements on the blades. These blades are fixed in a hacksaw under tension in a frame and used for cutting materials such as metal, wood, and plastic. The hacksaw blades are available in 10 TPI, 14 TPI, 18TPI, 24 TPI, and 32 TPI range. These

All 5 Releases


More Releases for Chatbot

Chatbot Market to See Strong Investment Opportunity
The "Global Chatbot Market Is Set For A Rapid Growth And Is Expected To Reach Around USD 2,166.28 Million by 2024", report intends to offer a resourceful means to assess the Chatbot Market and entails the all-inclusive analysis and upfront statistics with regards to the market. This new report is committed fulfilling the requirements of the clients by giving them thorough insights into the market. The Chatbot Market report, titled
42Gears Introduces Self Service ‘DeepThought’ Chatbot
42Gears Mobility Systems, a leading Unified Endpoint Management solution provider positioned as a Visionary in the Gartner Magic Quadrant 2018, announces that it has launched a Self Service Chatbot for enterprise end users. 42Gears has extended its ‘DeepThought’ engine, a virtual assistant chatbot, to function as a self-service portal for end users. The Self Service chatbot allows end users to perform actions on their enrolled devices, which would otherwise have
Bookbotby.ai launches Hotel specific Chatbot
bookbotby.ai announces general availability of its multi-tenant hotel chatbot. Since February this year the hotel focussed chatbot was available in beta and during this period more than 50 hotels and banquet halls deployed the bot on their websites. James Prince, product lead at Bookbotby says “during the beta program the bot answered 1000+ guest interactions a day and generated 3000 ++ transactions for the 50 early hotels who deployed the
Chatbot : Opportunities to Reach better Target Audience
Chatbots is a computer program which conducts a discussion via auditory or documented methods. These programs are often designed to influentially simulate how a human would behave as a conversational partner, thereby passing the Turing test. Chatbots are basically used in dialog systems for various practical purposes including customer service or information acquisition. Some chatterbots use sophisticated natural language processing systems, but many simpler systems scan for keywords within the
Hidden Brains Launches Chatbot Development Services
Hidden Brains, India-based leading Enterprise Solutions Company launched Chatbot Development services for its clients across 107 countries across the globe. With core focus on capitalizing on emerging technologies, Hidden Brains team has taken step in exploring chatbot and its real-world implementation across different industries. Launch of Chatbot development services is expected to drive growth, improve customer experiences, and increase agility/productivity of business. Chatbots can assist customers in factual
Chatbot Market 2017 And Its Huge Success
Chatbots Market research report helps to get access to industry data and upcoming trends which will give you avenues to know about the market. This report gives opportunities to go through with industry analysis, share and forecast, Providing brief description about the market size its competitors and product identification. In this report, the global Chatbots market is valued at USD XX million in 2016 and is expected to reach USD