The global Conversational AI market is expected to exceed more than US$ 16 Billion by 2024 at a CAGR of 30% in the given forecast period. It is segregated on the basis of Component as Platform and Services, and Deployment as Cloud and On-Premises. It is segmented in Retail and E-commerce, Healthcare and Life Sciences, BFSI, Travel and Hospitality, Telecom, Media and Entertainment, and Others based on End-User Industry. It is segmented in Intelligent Virtual Assistants and Chatbots based on Type, and Machine Learning and Deep Learning, Natural Language Processing, and Automated Speech Recognition based on Technology. It talks about the use of electronic messaging apps and chatbots to alter the communication and make customized consumer encounters at scale as conversational AI.
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