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!

The Most Disruptive Technology Trend in IT History... The Smart Machine Era

Earlier in the month, one of the top analyst firms in the industry posted their predictions of the top 10 strategic technology trends for the coming year. For example, being able to compute everywhere on mobile devices, embracing the Internet of Things, and 3D printing are just a few of the kinds of disruptive technologies we will be further immersed in as 2015 approaches. 

The smart machine era is another trend that is considered to be the most disruptive in IT history thus far. In this era of smart machines, they now have the capability to analyze the environment around them, learn from it, and make educated decisions on their own. Leading analysts agree that prototype self-driving cars, intelligent robots, and Virtual Personal Assistants (VPAs) will continue to develop at a fast pace. 

Similarly, Virtual Customer Assistants (VCA) are evolving rapidly. Using this type of disruptive technology will not only decrease support costs, but also improve the customer experience and increase revenue. According to a distinguished magazine publication, when consumers start a support interaction, they are 4x more likely to leave that interaction unsatisfied and stop shopping with your brand. The presence of a VCA allows users to find the answers to their own questions, on their own time – quickly.    

Companies that want to stay competitive need to start thinking about incorporating these strategic trends into their organization. Is your company already adopting some of these trends? If so, which ones and how? Does your eServices strategy emphasize the importance of self-service?     
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The Need For Improved Mobile Customer Service is Here!

Mock Mobile Virtual Agent

Earlier in April, one of noHold's clients was inclined to embrace the mobile movement when they found that about a fourth of their clients were mobile users. This company decided it was time to launch a mobile version of their Virtual Agent. By doing so, they are able to give great customer service to all customers, no matter what device they are using. Now, more and more companies are following suit. Recently, a leading provider of computing, consumer electronics, and communications solutions realized the need for mobile customer support, launching their version of a mobile-friendly Virtual Agent. 

It is a good thing that companies are making the shift to be more mobile friendly before its too late. Trusted analyst firms are predicting that by the end of the year 2015, over 80% of all Internet interactions will be made via mobile devices, and failing to improve your mobile customer service will end up damaging your business.   

Are you aware of what your audience prefers? Is your company taking the necessary steps to adapt to the mobile generation?   

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