Posts Tagged: "virtual assistant"

Smaller players in the intelligent virtual assistant space continue to develop AI tech

In mid-April, Cambridge, MA-based software developer Pegasystems (NASDAQ:PEGA) unveiled the Pega Intelligent Virtual Assistant, an AI tool which uses natural language processing to create responsive chatbots for a variety of business scenarios.

Amazon, Google, Microsoft and Apple will lead intelligent virtual assistant sector over the next few years

We’re three months into 2017 and already the early returns are showing that this year should be a banner one for intelligent voice assistant technologies. The 2017 Voice Report from VoiceLabs, a voice assistant app development firm, forecasts a total of 24.5 voice-first devices sold by the end of the year, increasing the overall footprint for such devices to 33 million in circulation. The report also indicates that specialization between voice assistants will become much more pronounced this year as the largest players in the field continue to develop their voice assistant technologies in ways that benefit their core business.

Intelligent virtual assistants will support one-fifth of all human interactions with smartphones by 2019

The next decade should see a major increase in intelligent virtual assistants with market research firms predicting that the market will grow at a compound annual growth rate (CAGR) from 34.9 percent up to 38 percent between 2016 and 2024, reaching a global market size which could be as large as $12.28 billion by 2024. Industry sectors where virtual assistants will see major applications develop soon include banking, financial services and insurance, due in large part to the growth of mobile banking, as well as end-uses in the healthcare and e-commerce sectors.