Just a few years ago the idea that artificial intelligence would be able to help customers with their questions and problems could still be called a futuristic fantasy. Being able to use algorithms and software was not a realistic nor reliable option, no matter the size of the organization. By now chatbots or voice assistants have grown so much that they play an important role in modern-day customer service. Brands are starting to experiment more, and customers have reached a technological literacy, which makes the use of this kind of AI-based services in customer support a lot easier. Download our free e-book to learn everything you need to know about chatbots for your business.
The differences between a virtual agent and a chatbot are actually bigger than you might think. To help distinguish between the two technologies, it's helpful to draw a parallel with another popular technology--the smartphone. When it comes to understanding the difference between chatbots and virtual agents, there are parallels to the evolution of a technology that has evolved significantly and is not referred to differently than it used to be--the smartphone. Fewer and fewer people regularly use the words'telephone' and'smartphone' interchangeably anymore, primarily because they are technically and functionally referring to two very different devices. Both a phone and a smartphone can be used to make calls, but that's where the similarities stop.
The market for AI technology is surging in 2020. A study by Tractica found that the size of the AI market was $9.5 billion in 2018 and expected to increase 1,200% by 2025. Many factors are driving the market. The reliance of AI by certain industries is one of the biggest factors. The punting industry is among the biggest driving forces for market growth.
A study conducted in 2018, entitled "The chatbots observatory", interviewed several hundred human resources managers about their perception of chatbots. The results of this study, conducted by a natural language processing editor, Do You Dream Up, have just been published. They are compared with the results of another study from the same observatory that interviewed commercials. While chatbots are in vogue, and most salespeople (72%) know what a chatbot is and are aware of the capabilities of this tool, human resources professionals still struggle to keep up with new technologies, with only 22% of them able to define what a chatbot is. However, those who have already heard about it, even vaguely, believe that chatbots will become widespread in human resources.
In the last few years, we've been experimenting with humanlike, Artificial Intelligence-based avatars. We integrated these avatars into L&D environments, workplaces, and the academic field. These avatars can act both as personal mentors (or trainers) and as clients or workers in real-world simulations. We wanted to share some of our insights. We believe AI-based trainers are going to dramatically change corporate learning, and empower both trainers and learners.
Future Apple smart speakers, like HomePod, might be much more data privacy focused. Apple has reportedly paid $200 million to acquire Seattle-based artificial intelligence company Xnor.ai, The purchase is one of many for Apple, which has become adept at vacuuming up tech startups, but it also gives us a glimpse into the company's thinking when it comes to future devices. Xnor.ai's work on hyper-efficient, low-power AI that doesn't require powerful processing or a connection to the cloud (processing locally on-device instead), neatly slots into a few areas Apple is currently working on. Whilst Apple hasn't - and doesn't typically - comment on why it acquires certain companies and how they fit into its future roadmap, we can speculate on how Xnor.ai's work fits in to the master plan.
Chatbots are still considered an emerging technology, but their use is rapidly expanding among all businesses. Because chatbots offer many benefits, including better customer experiences, increased customer engagement and increased sales and conversion rates. Also, with the advancement of artificial intelligence, machine learning and natural language processing, chatbots are poised to become more and more intelligent -- which means even more businesses will adopt them. Business Insider experts predict that by 2020, 80 percent of enterprises will use chatbots. We don't quite know why the other 20 percent is shying away, but we hope the realization dawns upon them soon.
Christmas is just around the corner, which means it's time to start planning your presents. Finding the perfect gift for your loved ones can be tricky, but don't worry, TechRadar is here to help you plan ahead. There's nothing like watching the people you care about erupt into smiles as they tear off your wrapping, and are greeted with a gift they actually love. So if you want to leave a lasting impression, the latest tech gadget can do just that. Technology is evolving so quickly that if you decided on a gizmo last year, there's always something new to choose from this year.
As of December 2019, there are more than 400 unicorns worldwide - that's according to the aptly named Global Unicorn Club report from CB Insights. A significant number of those, private companies valued at more than $1bn for the uninitiated, are firmly entrenched in the financial services sector. One such company is Lemonade. The New York-based business uses artificial intelligence, chatbots and other innovative technologies to disrupt the home and rental insurance sectors. It recently appeared in FinTech magazine's Top 10 Unicorns list, which provided a comprehensive snapshot of those most innovative companies to achieve this coveted status.
Check out what are the most significant advantages of implementing bots for business. Think about every repetitive question and simple tasks that your team faces. You could automate such conversations to save your employees' time and enable them to focus on more complex and important tasks. Moreover, bots respond immediately and can handle an endless number of conversations at the same time, so that your customers can get help faster and at any time (chatbots are available 24/7). That way, you can optimize your teams and improve productivity, as employees can be more efficient once they get more meaningful and challenging responsibilities than responding to repetitive questions.