The global market of Artificial Intelligence (AI) has provided around 341.8 billion USD revenue in 2021 and this growth is expected to reach over half a trillion USD by 2024. This growth is due to the fact that many companies around the world are adopting AI, especially conversational AI to improve their customer experience. Companies are using conversation AI as it can respond to instructions, have human-like conversations with customers, understand customers’ requirements by analyzing conversations and deliver the best possible solutions accordingly. Therefore a report says, by 2024, the number of AI-powered digital voice assistants is expected to reach 8.4 billion units.
This post will help you understand how companies are actually using AI and making the best out of it. But before diving into that discussion, let’s have a brief view of what conversational AI bots are.