Leading Customer Experience AI Provider Highlights Top 10 Chatbot Trends, Alongside Predictions for 2023 and Beyond
Boost.ai, a global leader in conversational AI at scale for Fortune 1000 companies, released their 2022 Conversational AI (CAI) Trends Guide, a report that notes 10 major trends in CAI that will have an impact on the business world in 2022. The report comes at a time when business leaders across various industries are looking for ways to scale a robust digital experience for customers. The guide specifically notes trends in banking, insurance, healthcare, telecommunications, and e-commerce as organizations in those sectors adapt to changes brought on by the pandemic.
By 2026, the conversational AI market is expected to eclipse $18.4 billion at a Compound Annual Growth Rate (CAGR) of 21.8%, up from $6.8 billion in 2021. Primarily driven by the increasing integration of advanced AI capabilities and consumer engagement via multiple platforms (including social media), this is a clear signal that businesses and their customers view the technology as viable. According to Accenture, 56% of companies say that conversational AI is driving disruption in their industry, with a further 43% reporting that their competitors are already in the process of implementing chat technology. With the growing acceptance of CAI as a valuable tool, it’s important that companies set the correct goals and parameters when implementing a virtual agent or chatbot.
“Providing a premier digital experience has never been a higher priority for businesses than it is now. Customers want to feel like their voice is being heard and the progression of conversational AI now gives customer experience teams the power to handle complex requests and inquiries at an incredible scale,” shared CEO and Co-Founder Lars Selsaas. “The trends highlighted in our report serve as a roadmap to any organization out there that wants to make customer experience a priority at the start of this new decade.”
CAI is no longer a new phenomenon. Both companies and consumers have grown more accustomed to the benefits of fast, improved, 24/7 customer service, allowing more vendors to deliver on the promise of automation to cut costs, increase revenues and improve customer satisfaction. This report from boost.ai signals to digital-forward companies willing to embrace artificial intelligence, what exactly is possible in the successful implementation and scale of the cutting edge technology. Examples of trends include “Scalable tech being critical for successful automation at the enterprise level,” and “The future of CAI still being very human,” speaking to the growing need for human AI trainers to ensure virtual agents and chatbots will always be improving.