Conversational Ai Market To Be $43.7 Billion By 2030

The global conversational AI market is projected to reach $43.7 billion by 2030, at a CAGR of 23.9% from 2023 to 2030. Conversational AI is the branch of artificial intelligence that supports human-to-computer and computer-to-human interactions. It helps reduce the time and effort required by humans to perform various tasks and combines all the technologies such as natural language processing (NLP), machine learning, deep learning, and artificial intelligence with traditional software like chatbots, voice assistants, or voice recognition systems. The growth of the conversational AI market is driven by the surge in demand for conversational AI solutions to improve call center operations and the proliferation of voice-enabled devices.