Artificial Intelligence: Global scenario versus Indian landscape

The retail industry has been one of worst-hit industries by the global pandemic and after an initial knee-jerk pause during the lockdowns, we see a sudden spike in retail brands (across categories of products) globally wanting to adopt and embrace digital transformation initiatives. The age-old model of customer service via call-centre's has been disrupted permanently by Covid-19 and moving to AI solutions that can help retail businesses manage both exponential rise in call volumes while maintaining very high service level quality is the new emerging opportunity. It is, therefore, not a surprise that the conversational AI market alone is expected to grow at 32 percent CAGR to $9.4 billion by 2024 according to market research company markets & markets.