AI: How the Rise Of Chatbot Is Powering a Futuristic Present?

Artificial intelligence (AI) does not exist in the world of science fiction. As a technology, AI-driven chatbots are revolutionizing business processes in multiple industries, while also impacting several aspects of our life, and how we interact with people in the virtual world. Therefore, as various markets fully embrace AI, they get smarter in today's always-on world. According to several analysts, the global chatbot market size, valued at $525.7 million in 2021, is expected to grow at a compound annual growth rate (CAGR) of 25.7 per cent from 2022 to 2030. The industry attributes such phenomenal growth to the rapid adoption of customer service activities by online enterprises and e-commerce businesses to reduce operating costs.