Council post: The Real-life Use-cases of Conversational AI across Industries

Thanks to the advancements in natural language processing (NLP), including LaMDA, GPT-3, GPT-Neo, BERT, and large pre-trained transformer-based language models (PLM), conversational AI has achieved state-of-the-art performance on many tasks. In addition, it has fueled a paradigm shift in NLP. As per Mordor Intelligence, the global ChatBot (conversational AI or virtual assistant) market is expected to touch $100 billion by 2026, growing at a compound annual growth rate of 34.75 percent. Technology has seeped into almost every industry and is changing how businesses and individuals interact and perform everyday tasks. The top five industries that benefit from chatbots include banking and finance, travel, real estate, education, and healthcare.