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Potential Vertical Applications for AI Virtual Assistant

09-19-2019 02:51 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Valuates Reports

Potential Vertical Applications for AI Virtual Assistant

As AI capabilities like NLP (Natural Language Processing), machine learning, and voice/speech recognition keep improving, AI virtual assistants are becoming mainstream products in consumer electronics markets. Companies are now in the process of exploring potential business opportunities related to these virtual assistants.
This reports examines the main topics and requirements for AI virtual assistants in different industry verticals, their applications in the several industry sectors, including the banking, insurance, and financial service, telecommunications, medicine, online/physical retail, leisure/hospitality, and government/public utility sectors; explores their development potential in the future.

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1.Definitions and Categories
2.Vertical Applications for Commercial AI Virtual Assistants
3.AI Virtual Assistants and Industry Issues
3.1 Banking, Insurance, and Financial Services
3.1.1 More Customer Contact Points and Higher Brand Image Requirements, Challenging Customer Service Efficiency and Cost Control
3.1.2 Outsourced Customer Service Can Reduce Costs but at the Cost of Branding
3.1.3 AI Helps Websites and Customer Service Centers Share the Workload while Communicating Brand Message
3.2 Telecommunications
3.2.1 Price Wars Have Hurt Profits; Operators Plan to Automate Basic Services
3.2.2 Longer Call Times and More Pressure on Agents
3.2.3 AI Helps Optimize the Existing Automated Service Experience and Create New Interaction Channels
3.3.1 Shortage of Staff; Time-consuming Paperwork
3.3.2 AI Reduces Time Spent on Paperwork, and Acts as an Assistant
3.3.3 AI Special Assistants and Integrated Home Care Systems and Insurance Platforms Will Form a Complete Health Care Network
3.4 Online/Phsycial Retail
3.4.1 Innovative In-store Experiences, and 24-hour, Multi-lingual Online Services
3.4.2 Online Retail Channels Use AIs as 24-hour Customer Service and Sales Staff; Physical Storefronts Have Only Enacted Demonstration Sites
3.5 Leisure/Hospitality
3.5.1 Travel Itinerary Recommentations, and Futuristic Travel Agents
3.5.2 AIs Provide Something New at Hotel Counters and Guest Rooms but also Create Privacy Concerns
3.6 Government/Public Utilities
3.6.1 Government Focuses on Service Convenience; Public Utilities Use AIs to Support On-site Operations
4. MIC Perspective
Appendix
Glossary of Terms
List of Companies

List of Tables

Table 1. Service Issues, Applications, and Cases of AI Virtual Assistants in Banks, Insurers, and Financial Institutions
Table 2 Service Issues, Applications, and Cases of AI Virtual Assistants in The Telecommunications Industry
Table 3 Service Issues, Applications, and Cases of AI Virtual Assistants in the Medical Industry Table 4 Service issues, applications, and cases of AI virtual assistants in the general retail/channel sector
Table 5 Service Issues, Applications, and Cases of AI Virtual Assistants in The Leisure/Hospitality Industry
Table 6 Service Issues, Applications, and Cases of AI Virtual Assistants in The Government/Public Utility Sector

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