Latest Statistical Insight & Trends In Conversational Ai For A More Human Experience
Well, in this post-COVID era enterprises should take a dig at the current market condition of conversational AI and realize what the future may have for them. It is possible to meet their business vision the earlier and the better they use conversational AI systems including automation chatbots and virtual assistants to their business advantage.
As an enterprise owner yourself, this is not going to happen unless you watch out for the latest analytical insights and trends in conversational AI technology minutely.
All we can say at the moment is that the impact of AI chatbots is likely to be more than what you might see during COVID or post-COVID time. With the latest AI bot trends and statistical insight at reach, you can only think of adopting the best AI products and services to offer a more human-like experience to customers.
Conversational AI Bot Strategy - More Than A Necessity for Enterprises
By the end of 2022, seventy percent of high-skilled and high-salary workers will deal with conversational AI platforms every day. Gartner states that IT authorities should develop a conversational AI strategy to ensure a smooth experience for business partners, employees, and customers alike.
Of course, consumers have a high preference for AI bots these days. According to PSFK, 74 percent of consumers like to interact with AI chatbots when they need quick answers to queries. The retail companies that use conversational chatbots are found to be useful (36%), inventive (40%), and proficient (47%).
What all these figures are pointing towards is the conversational ways of communication initiated by AI for businesses internally as well as externally. We are sure that you can relate to how AI is crucial for facilitating MLN and accurate automation cum interpretation of business interactions. You can bet on the efficiency of AI bots as they are all set to move from simple text-based queries to more valuable predictive analytical conversations in real-time.
But wait; all the above predictions regarding conversational AI platforms never come without solid data. So, you need not take your AI investment as sweepstakes.
We are here to bring a twist to your enterprise’s customer experience with new prospects unfolding in the latest conversational AI bot breakthroughs.
Major Chat Bots Statistics for Quick Reference
With the trend of AI bots at its peak, industries are now on a spree to use inventive apps for automated business operations. These apps are deployed in different business verticals. You too can bring on excellent customer support and a pleasant user experience.
Conversational AI chatbots will have a positive effect on the way your enterprise used to respond to the customers & support their needs before. It has long been estimated that conversational AI technology disruption will reduce your staffing issues and encourage the use of chatbots as a marketing channel for outreach.
Invaluable Insights at a Glance
You may need a quick statistical insight into AI bot trends based on research that will unfold the future scene and possibilities. Here are listed a few important ones to assist you in the successful implementation of intelligent assistants.
- The AI chatbot market share is estimated to annually grow at a CAGR rate of 29.7 percent to become 9.4 billion USD in 2024 from 2.6 billion USD in 2021. (BusinessInsider)
- More than 300,000 chatbots exist on FB. (Venture Beat)
- 80% of organizations are predicted to have AI automation of some kind by the end of 2021. (Outgrow)
- More than 50 percent of customers want an enterprise to be available 24/7hrs. (Oracle)
- Real estate, education, travel, finance, and healthcare are the industries leading in profit-making from AI conversational chatbots. (Chatbots Life)
- AI-driven Chatbots can cause as much as 30% savings on customer service costs. (Invespcro)
Conversational Chatbots Statistics and Trends to Highlight for 2021
As you know, the AI chatbot technology is rapidly spreading its wings to fortify the fairly weak support system that is presently working in most enterprises. Everyone from startups to Fortune 500 is now leveraging AI chatbots to gain power and speed.
Let’s consider the hot and happening AI chatbot trends, statistics, and their usability in the future.
1. Due to predictive analytics and sentiment analysis, NLP (Natural Language Processing) bots will understand and respond more like human
MarketsandMarkets report says, “The conversational AI chatbots market share worldwide will grow to become 13.9 billion USD by 2025.” Hence, the adoption of AI chatbot platform and service is going to be fiercer in the next 5 years.
There is a shift in the focus of enterprises from supporting customers through messages and emails to AI-driven chatbots that ensure better customer engagement and customer experience. These intelligent chatbots follow Natural Language Processing technology to converse with customers like humans and provide real-time assistance.
“About 42% of businesses cite setup challenges, 39% mention language challenges, and 29% name technology challenge as the reason to not implement AI chatbots (Deloitte Survey)”
2. The growing demand for digitization and technology architecture will be major driving factors for chatbot adoption
Deloitte survey confirms top 5 driving factors for chabot application. From streamlining interactions, providing improvised customer experience, saving operational costs, going digital to matching customer expectations, and deploying a new intelligent assistant, everything is included in them.
Regardless of one or more factors, use cases of AI chatbots in your organization need to be evaluated exclusively with aptness and practicality.
“For global enterprises, IT (66%), Operations (50%), Customer service (51%), Data Analytics (59%), Finance (48%), HR (47%) and Product development (44%) are among key departments using cognitive chatbot technologies. (IBM Cognitive Global Market Report)
3. AI chatbots in omnichannel contact centers to deliver a better customer experience
It is found that over 60% customers communicate through different channels and notwithstanding time, location, medium or device they look forward to consistency.'
Unlike conventional single/multichannel contact centers, omnichannel support models maintain a modernized and data-driven approach to customer service. They gather data and insights related to customer queries required for informed choices.
The right alignment and use of digital features such as video chats and AI-enabled virtual assistance integrated with an omnichannel model will help your organization accomplish high quality and consistent support that is more likely to please your employees as well as customers.
“90% customers be expecting smooth omnichannel support (UCToday)
4. Voice bots are the next huge thing in the league!
Web-users preferably use the voice search option on smartphones or computers for their daily browsing session. According to ComScore reports, 50% of smartphone searches include voice search in 2020.
The voice search cum speech recognition technology is evolving. The use of AI in voice-enabled bots leads to customer assistance over voice or text. Whether you run a startup or an established enterprise, it’s better to refer to recent voice bots statistics to recognize the new trend of engaging customers with automated AI-based communication.
“Accenture research finds “Digital customers have a preference for messaging frameworks with both text and voice-based interfaces”.
5. Conversational AI chatbots facilitate automation of payment
According to Chatbots Magazine, 67% of millennials in the USA accepted they are expecting brands empowered with AI chatbots to buy services and products from.
The 2021 outlook for conversational AI chatbots is more than automation of payments, replying to queries on A/C balance, sending payment notifications, receiving payments directly over FB messenger app or live chat. This quick payment processing is likely to satisfy customers the most, making them happy as well.
“MasterCard has introduced an AI chatbot, exclusively for consumer payments.”
Conversational AI bots are going to be an integral part of various business models, functions, and customer apps. Going forward, AI automation will go down the roots deep and help conquer all the possible challenges your business is facing in the area of chatbot implementation. Having a clear idea of your business objectives and aligning the chatbots strategy will greatly boost your customer experience and engagement.
Rezolve.ai brings an advanced Microsoft conversational AI-based platform combined with proven features to lead to unmatched customer support. If you are looking to deliver customer service at a fantastic ROI and decreased operational costs, book for an AI consultation with us here!!