Artificial Intelligence is the term of the decade. While we might not notice, AI is slowly seeping into our everyday life. Conversational AI, a byproduct of AI is already popular in the form of voice assistants like Siri and Alexa, customer assistant chatbots, messenger bots, and more such solutions.
Market research suggests that in 2022, the worldwide conversational AI market was valued at approximately $7.61 billion. It’s expected to expand steadily at a compound annual growth rate (CAGR) of 23.6% from 2023 to 2030. This growth is primarily driven by increased demand, lower chatbot development expenses, AI-driven customer support, and the adoption of omnichannel approaches.
In this blog, we will explore 5 conversational AI trends that will be prominent in the year 2024. So let’s dive right in!