When Will Conversational AI Go Mainstream? (Video)
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Read the complete transcript of this clip:Andy Peart: Within our fingerprints, we have a real opportunity to change a paradigm that's been with us since IT first started. Why should we, as individuals, have to understand how to use technology--how to be able to interpret, how we should work with a certain enterprise? Why can't I just ask in my own way?
What we should be able to do is have technology understand us. This is driving what I believe is a key tipping point in our industry, that conversational AI is going to be as important and critical to enterprises by 2020 as websites are today. That's not far off, only two years away.
If you talk to an IT director of 25 years ago about the internet, they probably wouldn't have realized what it was. Not realizing that within a very short space of time, it was going to become fundamental to their organization. We are in that same situation with conversational AI, and it's going to become fundamental.
This points to a fast-growing market. I'm a marketer, so I have to show a few stats up here and show a few market sizes. But I thought it might be interesting for you. Tractica estimate that the overall market for AI is going to be worth over 36 billion by 2025. Focusing that large area of AI into the specific area of conversational AI and natural language, well, RNR Research estimate that it's going to be worth over 16 billion dollars by 2021.
And then, if you focus that down a little bit more to the area of virtual assistants, well Markets to Markets estimate that it will be worth 7.9 billion. And the graphic on the left points to another quote from Gartner, which again points to the use of these sorts of mobile interactions and saying that 40 percent of mobile interactions are going to be influenced by conversational AI, by voice assistance, by 2020.
So, big trends taking place in our market.
Artificial Solutions CEO Andy Peart discusses the complexities of building conversational interfaces that effectively map language in this clip from SpeechTEK 2018.
SpeakEasy AI CEO Frank Schneider offers essential tips on using AI and active listening to enhance automatic speech recognition in this clip from SpeechTEK 2018.