Artificial Intelligence (AI) is one of the most pervasive technologies in use today. With the human language being the medium to how we communicate, it is no surprise that Conversational AI (CAI) is becoming the most prominent frontier of this technology. Many businesses today are enlisting the help of conversationally intelligent chatbots to stay competitive.
According to Markets and Markets, the expected global Conversational AI market size is set to grow from USD 4.8 billion in 2020 to USD 13.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9%.
Therefore, companies, industry leaders, and employees need to understand precisely what Conversational AI is, why it’s essential, and the many use cases of this AI application disrupting Healthcare, IoT Devices, Retail, HR, and Finance and Banking Industry.