![]() It particularly excels in addressing frequently asked questions (FAQs), troubleshooting issues, and engaging in casual conversation with users. Through a combination of input generation, input analysis, dialogue management, and reinforcement learning, it refines its responses over time, resulting in high accuracy. ![]() It employs a dynamic feedback loop with ML processes to continuously improve AI algorithms. By utilizing large amounts of data, machine learning (ML), and natural language processing (NLP), conversational AI aims to simulate human-like interactions, understand speech and text inputs, and even translate them into different languages. ![]() It encompasses various tools such as sophisticated chatbots and virtual agents, which engage with humans to provide solutions and help accomplish desired objectives. Looking forward, IMARC Group expects the market to reach US$ 45.28 Billion by 2028, exhibiting a growth rate (CAGR) of 31.50% during 2023-2028.Ĭonversational AI is an advanced technology that enables users to interact with computer applications in order to achieve specific tasks. The global conversational AI market size reached US$ 7.71 Billion in 2022. The report also includes competitor and regional analysis and highlights the latest advancements in the market. The study provides a detailed analysis of the industry, including the conversational AI market size, share, trends and growth forecasts. ![]() IMARC Group, a leading market research company, has recently released a report titled “ Conversational AI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ”. ![]()
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