Press release
Conversational AI Market to See Incredible Growth During 2021-2031 | Haptik, IBM Corporation, Microsoft Corporation, Oracle Corporation
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Conversational AI technology is used to create and interpret human-like or natural communication between humans and artificial intelligence systems. This technology can be used to create chatbots, which are computer programs designed to mimic human conversation, or to interpret and respond to human conversation in a way that is natural and human-like. This technology is becoming increasingly important as the use of artificial intelligence systems grows.
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Key Trends and Drivers
One key trend is the increasing use of AI-powered chatbots by businesses. Chatbots can be used to automate customer service tasks, such as answering FAQs or providing product recommendations. They can also be used to improve the customer experience by engaging in natural conversations with customers.
Another key trend is the increasing use of voice assistants, such as Amazon Alexa and Google Assistant. Voice assistants are becoming more popular as they are becoming more accurate at understanding natural language. Voice assistants can be used for tasks such as setting alarms, adding items to a shopping list, or playing music.
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Market Segments
By Component
Platform
Services
Support and Maintenance
Training and Consulting
System Integration
By Deployment
Cloud
On-Premises
By Type
IVA
Chatbots
By Technology
Machine Learning
Deep Learning
NLP
Automated Speech Recognition
By End-User
BFSI
Retail & E-commerce
Healthcare & Life Science
Travel & Hospitality
Telecom
Media & Entertainment
Others
Key Players
Amazon Web Services Inc.
Artificial Solutions Holding ASH AB
Baidu Inc.
Conversica Inc.
Haptik
IBM Corporation
Microsoft Corporation
Oracle Corporation
SAP
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