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The development of artificial intelligence in recent years including machine learning, natural language processing, image recognition, and speech recognition have promoted conversational AI applications allowing users to interact with businesses through desktops, laptops, and smartphones.

Various benefits of conversational AI in business-to-business applications, widespread adoption of messaging apps, enterprises focusing on enhanced customer experience, and rising adoption of virtual assistants are other factors promoting the market growth.

In January 2017, Ford Motor Company, an American multinational automotive company integrated Amazon Alexa in its cars enabling drivers to perform tasks like checking tire pressure, gas requirements, and overall maintenance of cars with the help of conversational artificial intelligence.

In order to stay competitive Domino's Pizza, Inc., an American pizza company, launched a Facebook Messenger chatbot for ordering pizzas.   Download Sample of This Strategic Report:- However, the inability chatbots in processing complex and large amount of information pose a major challenge for the conversational artificial intelligence (AI) platform and solution providers.

Segmentation By component, the market has been segmented on the basis of platform and service.By service, the market has been segmented into ssystem integration and deployment, support and maintenance, training, and consulting.By type, the market has been segmented into intelligent virtual assistants and chatbots.By technology, the market has been segmented into machine learning and deep learning, natural language processing, and automated speech recognition.By deployment, the market has been segmented into cloud and on-premise.

Intended Audience Conversational Artificial Intelligence (AI) solution providers Conversational Artificial Intelligence (AI) platform providers Chatbot software providers AI powered application developers Insurance agencies Connected automotive vendors Banking enterprises Intelligent virtual assistant providers Conversational Artificial Intelligence (AI) service providers About Kenneth Research Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food &

Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more.

The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation Contact Us Name: Kenneth research Phone: +1 313 462 0609 The post $15.82 bn , Conversational Artificial Intelligence Market 2019-2024|(CAGR 30.32%) appeared first on America News Hour.

Moveworks raises $75m in series B funding to accelerate conversational AI for IT support

Moveworks has raised $75m in a series B funding round to boost

it is ‘still in its first inning.’ The round was led by new investors ICONIQ Capital, Kleiner Perkins and Sapphire Ventures.

product innovation process for its natural language understanding (NLU) and advanced

single problem that’s been holding IT support back for the last 30 years: resolving

And we’ve succeeded.” Montreal-based Stradigi AI also closed a Series A funding round where it raised $40.3m, which will accelerate the company’s expansion in North America and support continuous product innovation of its AI platform, Kepler.