target audience: TECH SUPPLIER Publication date: Sep 2024 - Document type: Market Analysis Perspective - Doc Document number: # US51619524
Market Analysis Perspective: Worldwide Conversational AI Tools and Technologies, 2024
Content
- 27 slides
Get More
When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment.
Related Links
Abstract
This IDC Market Analysis Perspective provides insight into the current state and outlook of the rapidly evolving conversational artificial intelligence (AI) tools and technologies software market. In the last year, conversational AI solutions have continued to expand within organizations, replacing older IVRs and manual or rules-based systems for such use cases as customer service, human resources fulfillment, IT help desk, and even conversational commerce. Generative AI (GenAI) has had a significant impact on this market, and customers are beginning to pilot, test, and even productionize GenAI features and capabilities from conversational AI vendors. Related language technologies, including NLP, machine translation, speech to text, and text to speech, continue to improve dramatically due to new deep learning models and methods and open source innovations, including in the nascent field of GenAI. In turn, these technologies are helping fuel more advanced conversational AI applications.
"Conversational AI solutions have established a strong foothold in mainstream enterprise applications and have become an important part of related digital transformation and CX/EX strategies," said Hayley Sutherland, research manager of Conversational AI and Knowledge Discovery at IDC. "With the rise of generative AI, conversational AI is increasingly also a cornerstone of organizational AI strategies. The surge of interest in GenAI is adding to the fast-paced, highly competitive nature of this market, leveling some areas of the playing field while advancing capabilities."