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Conversational AI is transforming customer engagement through AI-powered chatbots and voice assistants, making interactions faster and more intuitive. The market is experiencing rapid growth, driven by advancements in Natural Language Processing and Machine Learning. Despite a valuation of $13.6 billion in 2024, only 16% of enterprises currently utilize these tools, indicating significant potential for expansion.
Key trends in conversational AI include personalization, multimodal interactions, and emotional intelligence. Businesses are increasingly adopting AI to meet rising consumer expectations for seamless engagement, which enhances customer satisfaction and loyalty. The integration of AI with emerging technologies is set to further enrich customer experiences and streamline operations.
• Global conversational AI market valued at $13.6 billion in 2024.
• 30% CAGR growth expected through 2033 in conversational AI market.
Conversational AI refers to technologies that enable human-like interactions through chatbots and voice assistants.
Natural Language Processing allows AI systems to understand and interpret human language, enhancing user interactions.
Machine Learning enables AI systems to improve their performance over time by learning from data.
Infobip specializes in providing AI-driven communication solutions, enhancing customer engagement through advanced technologies.
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