The use of AI-generated avatars is becoming increasingly popular, with major platforms such as Instagram, Facebook and Snapchat adopting them to create a personalized experience for users.
As the chatbot space and AI technology continues to grow and expand in a big way, we can expect many new trends to emerge and rule the segment this year.
During the past decade, the Artificial Intelligence (AI) chatbot segment has registered phenomenal growth. With a value of US$ 0.84 billion, the industry is expected to reach a valuation of US$ 4.9 billion by 2032, growing at a CAGR of 19.29 percent from 2023 to 2032, as per the recent projections by Precedence Research described in a study. In light of these figures, it would not be an exaggeration if we say that this is going to be a great decade for the AI chatbot space.
As the chatbot space and AI technology continues to grow and expand in a big way, we can expect many new trends to emerge and rule the segment this year. “The most prominent trend we could see flourishing this year, in my opinion, will be the rise of specialized chatbots targeted for specific areas. Most organizations across sectors look to AI chatbots as quick solution providers, and this trend will continue to grow in the coming months. A prime example of this can be seen in the case of Uber, the company has allowed customers to book taxi rides through WhatsApp chatbots,” said InfoBip, managing director of India, Bangladesh, Nepal and Sri Lanka. says director Harsha Solanki.
There has been a steady increase in the use of conversational chatbots by organizations. Providing personalization is emerging as a major use scenario for AI chatbot technology. Since most of the customers today are looking for personalized experience, it can be easily provided to them with the help of conversational AI. Conversational technology platforms are using chatbot technology to help businesses streamline engagement with customers, clients and prospects.
Through the use of automated, personalized, real-time conversations across a variety of messaging channels, intent-based chatbots prove to be extremely useful. “They are effective in engaging existing and potential customers with a brand through the use of Natural Language Processing (NLP) to infer the intent of the individual. Once intent is established, such chatbots solve questions such as- oriented responses, thereby mimicking the normal conversational experience between two human beings,” says Solanki.
With the advent of new age technologies such as facial emotion recognition, eye tracking and advancements in real-time video interaction analysis, we can also expect AI chatbots to display enhanced emotional intelligence in times to come. There has been considerable progress in creating digital avatars that project emotion, making AI chatbots indistinguishable from human operators. The use of AI-generated avatars is becoming increasingly popular, with major platforms such as Instagram, Facebook and Snapchat adopting them to create a personalized experience for users.
The application of AI chatbots in the voice assistant domain is not a foreign concept. “The likes of Alexa, Siri and Cortana are becoming an intrinsic part of our daily lives. Voice assistants are increasingly perceived by the majority as a helpful tool that makes daily tasks more convenient. is going to grow. Industry figures reflect a strong period of growth, with digital voice assistants set to reach 8.4 billion units by next year,” believes Solanki. This figure shows the growth that AI chatbot technology is poised for this year.
In addition, we may also see a rapid increase in innovation related to conversational AI-powered search. “AI chatbots have already proven their worth in helping customers navigate and find what they are looking for on a brand’s digital platform in the shortest amount of time, rather than scrolling through multiple pages. The development of Google’s search technology is an early example of the efficacy of AI in improving search results. The use of AI chatbots as an integral part of search bars and reporting systems will continue to grow and evolve in the months to come.”
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