In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses. The Artificial Intelligence (AI) market is about to embark on unprecedented growth due to demand, but while the explosion will further the technology to new heights, it's facing one obstacle. In a new report by MarketsandMarkets, the AI market value stands at $21.46 billion in 2018, and is forecast to reach $190.61 billion by 2025, boasting a CAGR of 36.62%. There is one major restraint for the market, the forecast says, and that's the limited number of AI technology experts to power the innovation.

As we sweep into the 4th Industrial Revolution driven by artificial intelligence, organisations are scrambling to implement Chatbots to be the face of their new machine-driven operations. Chatbots are often just seen as an automated text chat channel, replacing a human to support customers on a website. But Chatbots are capable of much more. By adding a voice interface to a chatbot platform it can answer phone calls, replacing traditional Interactive Voice Response (IVR) and speech recognition technologies. Chatbots can also respond to emails making them truly multi-channel.

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This article describes FAQ FINDER, a natural language question-answering system that uses files of frequently asked questions as its knowledge base. Unlike AI question-answering systems that focus on the generation of new answers, FAQ FINDER retrieves existing ones found in frequently asked question files. Unlike information-retrieval approaches that rely on a purely lexical metric of similarity between query and document, FAQ FINDER uses a semantic knowledge base (WORDNET) to improve its ability to match question and answer. We include results from an evaluation of the system's performance and show that a combination of semantic and statistical techniques works better than any single approach.