Showing posts with label 2016. Show all posts
Showing posts with label 2016. Show all posts

Friday, December 2, 2016

Why Virtual Assistants will be Key to Getting through the Holiday Shopping Season on Top

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Black Friday and Cyber Monday have kicked off the holiday shopping season this year with a bang. While it was reported that the number of shoppers increased from last year, retailers saw a drop in the average amount of money that was spent - approximately $10 less. (money.cnn.com) This drop could be attributed to a number of things. 1. More people reported all their purchases were sale items, 2. A higher percentage of people bought items that were that were 60% off and higher, (IMAGE) and 3. Businesses were ill prepared (specifically online) for the massive amount of shoppers. According to Forbes, lots of big brands' websites were experiencing server issues that couldn't handle the volume of people. 

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"Consumers faced a variety of technical problems on Black Friday and through the so-called “Turkey Five” (the five days after Thanksgiving). Major retailer sites, including Macy’s, QVC, Walmart, Victoria’s Secret and Newegg, all experienced outages, due at least in part to server overload due to enormous boost in traffic. The Gap, Inc. family (Gap, Old Navy, Banana Republic and Athletica) was offering a massive 50% off site-wide deal fell victim to the same fate. Other retailers, such as Williams-Sonoma, saw a significant decrease in their page load time—not a great occurrence when buyers are in a hurry to empty their online carts and get on to the next sale." (Forbes)

While things like this are bound to happen,it did not effect the number of online users which continues to grow each year. From last year to this year, approximately 5 million more users were shopping online (about $3.34 billion came from online sales), while brick and mortar store shoppers decreased by 3 million people this year. Out of the online shoppers, $1.2B came from mobile purchases. This is a huge increase from previous years. 

Creating the ultimately customer experience online (via any device) is important to attract new customers and retain existing ones. A major trend this year that consumers are adopting (and preferring) is Virtual Assistants (VA's). While having a VA all year round is a good practice, VA's are also valuable to have during peak seasons as well, such as the holidays. Being able to position your Virtual Assistant as a way for consumers to get quick answers to pre-sales and post-sales questions will reduce the number of inquiries to live agents/employees and increase customer satisfaction. Check out this white paper showing how some of our customers have leveraged their Virtual Assistants during peak seasons: http://www.nohold.com/manage-traffic-spikes-better-with-self-service.html

And it is not just large brands that can benefit. Small and medium businesses, even little personal shops on eBay or Etsy can have a Virtual Assistant to eliminate some of the holiday stress. Visit albertai.com to learn more about creating a Virtual Assistant (bot) quickly and easily, no programming skills required. 

Cheers!

Friday, November 4, 2016

By 2021, the Virtual Assistant Market will Reach $15.8 Billion Worldwide


Greetings!

2016 has gone by so fast, I can't believe we are already in November. Through the course of the year we have talked about the major growth we have seen within the Virtual Assistant space. Executives are recognizing the benefits a Virtual Assistant will bring to any company, tech giants are acquiring Artificial Intelligence companies at a rapid pace this year, and analyst firms are predicting continued adoption of Virtual Assistants in the coming years. 

Last year around this time, Gartner put out the top predictions to look out for. One of them being, "by 2020, smart agents will facilitate 40% of mobile interactions. This is based on the belief that the world is moving to a post-app era, where assistants such as Apple's Siri act as a type of universal interface." (ComputerWorld

This year, analysts from Gartner recently put out the top 10 strategic predictions for 2017. They start off the article with saying, "By 2020, the average person will have more conversations with bots than with their spouse. With the rise of Artificial Intelligence (AI) and conversational user interfaces, we are increasingly likely to interact with a bot (and not know it) than ever before. The digital experience has become addictive by entering out lives through smartphones, tablets, virtual personal assistants (VPAs) or the entertainment systems in our homes and cars." (Gartner Predicts a Virtual World of Exponential Growth)

Another report from Research and Markets concluded that "by 2021, the Virtual Assistant market will reach $15.8 billion worldwide." 


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With adoption only expecting to increase, the democratization of AI, specifically Virtual Assistant is going to be key. Making it as easily accessible as possible will empower even more people to embrace the experience. If you would like more information on what noHold is doing to democratize AI, please contact us here.

Have a great weekend.
Cheers!

Thursday, July 14, 2016

How Chatbots and Artificial Intelligence Will Impact Enterprise Technology in 2016

At the end of May, ZDNet published an article showing different enterprise technologies to look out for this year. Below you will find a matrix ZDNet put together to showcase these different technologies that are or will make an impact on enterprises in 2016


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Chatbots (Virtual Assistants) and Artificial Intelligence both make the list as emerging technologies. According to the article, here is a brief overview of these two technologies:
  • While AI is still in its elementary stages, more and more companies are investing in its potential. "...the revenue of the industry is currently a minuscule $202 million today showing that a lot more is about to happen. This is expected [to] change dramatically growth-wise, with [the] artificial intelligence industry expected to bring in over $11 billion by 2024." (ZDNet)
  • From an app perspective, Virtual Assistants (or chatbots) are making a huge impact on the user interface. Consumers are now expecting this convenient, seamless channel of interacting with a company. 
On one side, this is a great time for businesses, especially enterprises, to jump on board with chatbots and Artificial Intelligence. On the other hand, is important for companies to remember to provide quality bots that understand end user queries, and can intelligently interact with them. There have been many stories about companies developing these 'bots' that are not very intelligent, with major knowledge gaps. Chatbots built with sophisticated AI backing them can be leveraged as powerful tools; a one-off chatbot that provides inaccurate information or error messages will have to opposite effect, causing more frustration to customers, and fueling a negative stigma against all AI/automation. 

www.nohold.com

Monday, October 26, 2015

Gartner Identifies Autonomous Agents as Top Technology Trend to Watch for in 2016

Can you believe it is almost the end of the year? With the holidays fast approaching, the rest of 2015 is going to fly by. In fact, leading analysts have already started making predictions for 2016 top trends. Recently, Gartner went into detail about top technology trends at the Gartner Symposium/ITxpo 2015 in Orlando. Check out what tech trends they think you should look out for in 2016 on the infographic below: 

Infographic with a pyramid of circles with graphics inside them to depict the top technology trends of 2016
Gartner, Smarter with Gartner, Top 10 Technology Trends Signal the Digital Mesh, October 7, 2015
We are excited (but not surprised) to see 'autonomous agents and things' as a top trend in the coming year according to Gartner. Virtual Personal Assistants (and Virtual Customer Assistants) have made major strides within the past couple years, and more companies are beginning to see the benefits of investing into this technology. Not just any static Artificial Intelligence (AI) will cut it though; consumers are demanding sophisticated, intelligent agents that can handle tasks seamlessly. "Over the next five years we will evolve to a postapp world with intelligent agents delivering dynamic and contextual actions and interfaces," said Mr. Cearley. "IT leaders should explore how they can use autonomous things and agents to augment human activity and free people for work that only people can do. However, they must recognize that smart agents and things are a long-term phenomenon that will continually evolve and expand their uses for the next 20 years." (Gartner Identifies the Top 10 Strategic Technology Trends for 2016)

What is your opinion on autonomous agents and things? Thoughts about any of the other predicted trends for 2016? Let us know in the comments below. 
For more information on next generation Virtual Assistant technology for Enterprise and SMB, please contact noHold. 
www.nohold.com