Call Center AI Market 2020: Recent Industry Trends & Developments and Future Opportunities | Avaamo Technologies Private Ltd., Amazon Web Services, EdgeVerve, Google LLC

AI chatbots are based on natural language processing, which enables them to carry out human-like conversations and assist customers in real-time process. They also help call centers in understanding business intelligence about customer preferences, opinions, and buying pattern. This data collected from chatbots enables businesses to provide proactive recommendations and personalized customer experience. Implementing AI in the call center industry is a huge success for customers who prefer self-service options. It can help customers get information at the right time, which saves time and effort spent on service calls, increasing efficiency of the call centers.

Rise in use of AI by organizations to offer enhanced customer support services is a driver for the growth of the call center AI market. Growth in customer engagement through social media platforms and increase in the amount of data generated in organizations, which is stored over cloud-based technology are factors that further boost the growth of the call center AI market. Adoption of various trending technologies such as IoT devices, 5G, and high internet penetration in multiple businesses are expected to propel the market growth. However, information security and protection are main restraints for the development of call center AI software. Furthermore, on-going R&D on gesture recognition technology with AI-based intelligent virtual assistant and chatbots provides lucrative growth opportunities for players operating in the call center AI market.

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With the rise in demand for AI in the call centers, various organizations are adopting it in their daily schedule to maintain client records and reduce waiting time on chatbots. For instance, IBM Corporation came into an association with Regions Bank Corporation (U.S.) to convey IBM Watson man-made consciousness (AI) innovation to help improve client care and help investors in day-to-day work. Local banks are utilizing IBM Watson innovation to support clients and representatives.

Moreover, on April 28, 2020 ServiceNow and Amazon Web Services have launched an artificial intelligence powered contact-center-as-a-service offering for IT support that combines ServiceNow's platform with Amazon Connect, which launched in 2017. With the amazon connect integration to cloud call center, amazon web services and ServiceNow is expected to capitalize the need for enterprises to be able to move call centers remotely, if needed as well as quickly adopting multiple support channels.

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Cloud-based infrastructure makes call centers extremely scalable and by adopting enterprise cloud solutions for call centers, organizations can save operating costs, while monitoring revenue growth, as cloud-based call centers enhance performance, channels support, and engagement. Hence, reporting and analytics used in call center AI helps support a changing customer base. Call center AI solutions are getting deployed over cloud as it offers benefits such as lower cost of establishment & support, higher adaptability, availability of ongoing data, and upgraded business effectiveness over on-premise arrangements.

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Major players analyzed in the market include Avaamo Technologies Private Ltd., Amazon Web Services, EdgeVerve, Google LLC, Haptik, IBM Corporation, Inbenta, Microsoft Corporation, Oracle Corporation, and Rulai Inc.

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