According to Gartner report, “Worldwide contact center (CC) and CC conversational AI and virtual assistant end-user spending is projected to total $18.6 billion in 2023, an increase of 16.2% from 2022.
The global conversational AI and virtual assistant market represents the fastest-growing segment in the contact center forecast, helping to spur 24% growth in 2024. Conversational AI capabilities are receiving greater investment as contact center decision makers look to incorporate conversational AI as part of a long-term strategy to reduce reliance on live agents. While the number of customer service interactions that are touched by AI continues to increase, most of these interactions are augmented with CC AI instead of fully offloaded to a virtual agent. Overall, Gartner estimates around 3% of interactions will be handled via CC AI in 2023, growing to 14% of interactions in 2027”.
“Near-term investment growth rates for CC and CC conversational AI and virtual assistants are expected to dip as business volatility creates a lengthening of decision cycles,” said Megan Marek Fernandez, Director Analyst at Gartner. “Longer-term, generative AI and growing maturity of conversational AI will accelerate contact center platform replacement as customer experience (CX) leaders look to simultaneously improve the efficiency of customer service operations and the overall customer experience”.
Gartner “expects general economic and geopolitical uncertainty to create some budget restrictions in 2023, resulting in a slowdown of premises-based contact center replacements and upgrade projects. However, customer-facing projects may be viewed as an important part of revenue retention and generation strategies.”
According to Product Director of Spitch, Vadim Shchepinov, the assessment by Gartner is confirmed by our experience with Spitch clients currently focusing on end-to-end projects, which may indeed be viewed as an important part of revenue increase strategies. Boosting sales through the smart application of virtual assistants and chatbots, speech analytics, knowledge base integration and other tools, as well as improving customer and employee experience should be a critical part of any project today.
Spitch specialists and their counterparts at the client side alike believe that conversational AI in a modern-day contact center allows orchestrating the delivery of a uniform high-quality experience across all the communications channels, enhance predictive analytics, etc. This requires a more significant uptake of advanced dashboards, speech analytics, knowledge and insights circulation, and other tools delivered by advanced conversational AI solutions.
Contact us to learn more on how conversational AI-based digitalization of modern contact centers works in practice.