Extended Abstract, Intetics
10001 Tamiami Tr N, Ste 114, Naples, FL 34108, United States
Keywords: Artificial Intelligence, Chatbot, Machine Learning, Natural Language Interface, Voice Assistant
Conversational AI is quickly becoming a necessity for organizations that want to deliver a customer-centric experience. The technologies behind chatbots, voice assistants, and other conversational AI tools enable increased organizational efficiency, lowered complaints, better customer cycle management, and greater collective intelligence.
The Conversational AI White Paper examines how the above-mentioned benefits are possible dives into the current and future market, and brings attention to the most up-to-date research. Below, you can find a summary of the information presented in the White Paper.
Get an introduction to the topic and learn which two major developments can be contributed to the proliferation of conversational AI agents.
II. What Is Conversational AI, and How Does It Work?
Learn key terms related to conversational AI, the difference between reinforcement learning and supervised learning, and how AI bots can deliver helpful enjoyable user experiences.
III. Why Is Conversational AI Important for Your Business?
You will get an explanation about why there is such a strong drive in the Conversational AI industry, especially among corporate adoption. Examine various reasons, including time savings for the customer, real-time access, online relationship management, and a lowered cart abandonment rate.
IV. Conversational AI Overview
Get a brief overview of which technologies go into conversational AI: Automatic Speech Recognition, Natural Language Processing, and Machine Learning. Learn how all three of these tools are leveraged to create conversational AI agents.
V. Market Leaders of Conversational AI
Learn the current industry leaders; the White Paper goes beyond household names like Alexa and Siri and instead brings attention to successful startups.
VI. Brief History of Development
You will be presented with a timeline of Conversational AI development, starting in the 1960s with the world’s first chatbot, continuing to PARRY in the 1970s and Jabberwacky in the 1980s, and bringing you all the way to Alexa in 2014. Each development on the timeline comes with background information for a deeper understanding.
VII. Total Market Volume
Get an overview of the current global conversational AI market, as well as projected growth between now and 2024. Learn the compound annual growth rate, which country has the biggest market share, and which technologies are receiving the most investments.
VIII. Main Tech Components
Get a deeper understanding of Machine Learning and Natural Language Processing. Going further, the White Paper will examine the four steps within Natural Language Processing: input generation, input analysis, dialogue management, and reinforcement learning.
IX. Main Tech Architectures, Tools, Stacks Used
Learn about the three main types of data products in which Conversational AI is used: intelligent virtual assistants, chatbots, and customer service assistants.
X. How to Choose the Right Conversational AI Solution
Determine whether a predesigned package or a custom AI solution is right for your organization. Examine pre-built solutions that are easily deployable – for instance, Twitter and Slack for Chatbots and Amazon echo for a Voice Assistant.
XI. Main Applications and Impact Delivered
Get insight into how conversational AI can be applied in innovative ways: (1) AI-driven accessibility that reduces entry barriers, (2) HR processes, (3) Health care appointment booking and other administrative functions, and (4) IoT devices like smart TVs, virtual home assistants, etc.
XII. Business Solutions and Use Cases
Examine 5 Conversational AI use-cases: from a virtual website assistant that provides support and increases session times – to a healthcare assistant that helps patients instill good habits.
XIII. Standards in Use
Study the Conversational AI standards outlined by Microsoft, which address user satisfaction measurement, transparency, seamless transitions, and guideline against misuse.
XIV. Industry Associations, Magazines, Social Media Groups
Are you interested in joining a Conversational AI community or subscribing to a magazine? If so, check out the several authoritative industry groups and resources listed in this section.
XV. Top Contributors to the Conversational Platforms Market
Learn about the three top contributors: Amazon AWS, Google, and IBM. Intetics examines the Conversational AI platform for each contributor; Amazon AWS’ Accenture, Google’s Dialogflow, and IBM’s Cognitive Care.
XVI. Available Certifications for Practitioners
If you are interested in becoming certified as a Conversational AI practitioner, learn about 2 viable programs – Rulai Institute and Microsoft AI School.
XVII. Healthcheck for Your Business
Determine whether Conversational AI is a good fit for your organization. Learn which questions you should ask yourself – such as whether the solution makes sense with your current web presence.
XVIII. Resources and Reading to Dive Deeper Into Conversational AI Technology
The White Paper summarizes further reading for readers who would like to gain a deeper understanding of the covered topics.
XIX. Statistics on Conversational AI
Learn key statistics related to Conversational AI, such as departments that stand to benefit the most, the percentage of consumers that prefer voice assistants over using an app or website, and which advantages consumers list regarding chatbots.
XX. Summary and Conclusions
Wrapping up, the White Paper presents final thoughts on the scope of Conversational AI, calling attention to the valuable benefits organizations stand to glean by harnessing the power of AI.
Chatbots to DELIVER $11bn in annual cost savings for retail, banking & healthcare sectors by 2023. Chatbots to Deliver $11bn in Annual Cost Savings. (n.d.). https://www.juniperresearch.com/press/chatbots-to-deliver-11bn-cost-savings-2023.
Chatbots: The definitive guide 2021. Conversational AI Platform for Enterprise – Teneo | Artificial Solutions. (2021, March 17). https://www.artificial-solutions.com/chatbots.
Conversational AI Market ANALYSIS: Trends Forecast, 2024. Prescient & Strategic Intelligence Private Limited. (n.d.). https://www.psmarketresearch.com/market-analysis/conversational-ai-market.