DMG Consulting Releases 2024 - 2025 Conversational AI Solutions for the Enterprise Report

Sector is well-positioned to experience triple-digit revenue growth

Who: DMG Consulting LLC, a leading provider of contact center and back-office market research and consulting services

What: Releases 2024 - 2025 Conversational AI Solutions for the Enterprise Report

When: Today, 6 September 2024

Where: Available at the DMG Consulting online store

Background:

DMG Consulting LLC, a leading provider of contact center and back-office market research and consulting services, today released its 2024 - 2025 Conversational AI Solutions for the Enterprise report. The report provides a comprehensive analysis of the dynamic and accelerating conversational artificial intelligence (CAI) sector.

Conversational AI solutions are more than just enhanced self-service; they include capabilities that elevate the customer and employee experience (CX/EX), increase productivity, and deliver the intelligence to support a continuous improvement process. The timing could not be better for these applications, as self-service is increasingly becoming the preferred service method for consumers around the world.

Driven by innovations in AI and generative AI (GenAI) technology and increasing demand for AI-powered customer and agent support services, conversational AI-based solutions are making valuable contributions to most aspects of the service experience, whether they are customer-facing conversational self-service applications or part of a new and expanding category of real-time "agent assist" applications. These offerings include virtual assistants (VAs), real-time guidance (RTG), intelligent business automation/ workflow, transcription, and automated post-interaction summarization capabilities that are designed to assist live agents.

CAI solutions are ushering in a wave of high-quality productivity improvements in contact centers and service operations and are starting to be rolled out in other enterprise departments. "This IT sector is attracting billions of investment dollars, enabling both established and emerging vendors to deliver a new generation of intelligent self-service tools that perform tasks and address customer inquiries that could not be automated in the past," said Donna Fluss, President of DMG Consulting. "As importantly, many CAI solutions also augment agent/employee performance, further increasing their contributions to organizations."

The pace of innovation in the CAI market has been very rapid over the past two years, and it is expected to pick up momentum as more businesses purchase and implement these solutions. Given the benefits of GenAI-enabled CAI solutions, their potential to deliver an outstanding multimodal and omnichannel self-service experience, and consumers' growing preference for helping themselves, this IT sector is well-positioned to experience triple-digit revenue growth during the next five years. DMG estimates the total addressable market (TAM) for CAI solutions is immense, as over 95% of companies are using outdated IVR systems. Revenue from CAI implementations is expected to grow by more than 200% in 2025 and 2026, and at least 100% in the following three years, 2027 - 2029.

DMG's 2024 - 2025 Conversational AI Solutions for the Enterprise report examines the CAI market, competitive landscape, technology, products, functional capabilities, and the business, servicing, and market trends that are driving adoption and innovation. The Report features five vendors who offer conversational AI platforms to address service- and contact center-related functions: Cognigy, IntelePeer, Kore.ai, SESTEK, and Verint Systems.

To learn more about the 2024 - 2025 Conversation AI Solutions for the Enterprise report, visit dmgconsult.com, or contact Deborah Navarra at deborah.navarra@dmgconsult.com or 516-628-1098. To order your copy of the Report, visit dmgconsult.com.

DMG Consulting LLC
6 Crestwood Dr
West Orange, NJ 07052

Contact: Deborah Navarra
DMG Consulting LLC
516-628-1098
deborah.navarra@dmgconsult.com

About DMG Consulting LLC

At DMG Consulting LLC, our unique knowledge of people, processes, and comprehensive technological expertise informs key decisions for enterprises, technology vendors, and investors. Our clients achieve exceptional business outcomes and deliver top-notch customer and employee experiences (CX/EX). DMG Consulting is a trusted advisor and vendor-agnostic partner for those who want to successfully navigate the dynamic contact center and back-office markets in an AI-driven digital age. Visit us at dmgconsult.com to learn more.

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This release was published on openPR.