How the Automotive Industry Is Employing in-Car AI-Assisted Customer Support

Conversational AI is a form of Artificial Intelligence that allows people to communicate with applications, Websites, and devices in everyday, human-like natural language via voice, text, touch, or gesture input. Conversational AI allows a fast interaction between users and the application using their own words and terminology. According to a Mordor Intelligence report on Chatbot Market: Growth, Trends, and Forecast (2020 - 2025), the chatbot market was valued at $17.17 billion in 2019 and is projected to reach $102.29 billion by 2025, registering a CAGR of 34.75 percent over the forecast period 2020 - 2025. "Virtual assistants are increasing because of deep neural networks, machine learning, and other advancements in AI technologies," according to the report. Virtual assistants, such as chatbots and smart speakers, are used for various applications across several end-user industries, such as Retail, Banking, Financial Services, and Insurance (BFSI), Healthcare, Automotive, and others.