Conversational AI Making a Mark in Today’s Time, How are Different Brands Leveraging AI
Several businesses began to use artificial intelligence and cloud-based services during the epidemic to give clients the satisfaction of having a personal conversation with someone who can assist them in solving their difficulties. Conversational AI allows organizations to create a more personalized experience for their customers, resulting in improved communication across industries.
The global conversational AI market is estimated to be valued at $18.4 billion by 2026, up from $6.8 billion in 2021, according to Markets and Markets, with a CAGR of 21.8 percent between 2021 and 2026. Big Data and Natural Language Processing are currently dominating the market, which is constantly developing and evolving (NLP). Here are a few startups that are using conversational AI with full potential:
VDO.AI founded in 2017 by Mr. Amitt Sharma, is a global advertising technology innovator and disruptor that helps businesses overcome the lacuna of consumer attention through intelligent, high-impact, and laser-targeted solutions. The AI-empowered advertisements aim to achieve the call-to-action for brands, thereby spreading awareness to drive conversions. Our state-of-the-art solutions empower web publishers to take advantage of the potential of video advertising by linking them with major advertisers and brands all over the world through Native Video Units, Recirc™ Units, Story Ads, Mobile Ads, OTT/CTV Advertising, and more.
Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication, and contact center solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. With over a decade of industry experience, Infobip has expanded to 65+ offices across six continents. It offers natively built technology with the capacity to reach over seven billion mobile devices and ‘things’ in 190+ countries connected directly to over 700 telecom networks. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić, and Izabel Jelenić.
Haptik is one of the world’s largest Conversational AI companies, having reached over 100Mn devices, and processed over 3Bn conversations. Part of the $65Bn Internet conglomerate Jio, backed by Google, Facebook, and others, Haptik Intelligent virtual assistants enable Fortune 500 brands globally to enhance CX while saving costs and increasing sales. Haptik has received industry accolades, including “Recommended Vendor in Emerging Technologies and Trends Impact Radar: AI in Insurance and AI in Government” by Gartner. Haptik’s leading clients include Disney Hotstar, Oyo Rooms, KFC, Tata Group, Zurich Insurance, OLA, and others.
Launched in 2012, Shoptimize, a high-tech product company, aims to help brands take control of their digital growth. The brainchild of Mangesh Panditrao and Vivek Phalak, Shoptimize is a one-stop platform for all D2C eCommerce needs. The brand covers multiple facets of eCommerce when it comes to D2C growth, enterprise solution, and tech space.
Today, the world has an abundance of data that it is nearly impossible to strategize what to do with it. Up until recently, companies relied on employees to manually sort out and streamline such large volumes of data. Apart from that, employees also lacked the required skillsets to handle the volume. This is where Shoptimize comes in to help D2C brands thrive by unearthing business insights, leveraging an AI engine that analyses millions of data points and connects the dots.
The platform also has an AI/ML engine that uncovers meaningful insights to boost revenue over a longer client life cycle, as well as a powerful platform that is scalable, flexible, and simple to use.