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Conversational AI trends to look out for in 2024

Updated: February 22, 2024
Conversational AI trends to look out for in 2024
Conversational AI trends to look out for in 2024

The pandemic is an impetus driving the digital revolution of all businesses today. Consumer demands are changing fast and companies need to match them and beyond.

Automating various touchpoints across the customer service journey is helping manage the high volumes of interactions effectively. 

So what’s in store for 2023? You read the top chatbot trends to look out for earlier. Here is some more stuff in the conversational AI space that you should watch out for next year.

1. Sophisticated omnichannel CX chatbots: 

Businesses with an omnichannel customer engagement strategy experience better retention (average 89%), compared to companies with no omnichannel strategy (33%). (Invesp). 

Customer engagement is crucial for a business in order to win customers back; month-on-month and grow organically. At Yellow.ai, we provide omnichannel CX through the Agent Assist feature.

2. Voice will go hyper-local: 

People are using voice AI to search for local restaurants, institutions, or locations. Voice assistants suggest from the local SEO-optimized voice search entries for local searches and only provide citations from trusted sources. 

Voice-driven shopping will hit $40 billion by 2022 (Siteefy) By 2030, the AI-based and voice recognition global market is projected to reach $27.3 billion (insightSLICE)

3. Conversational AI in gaming is on the rise: 

Today, games are extensively exhaustive. They account for all edge cases and the creation is a tedious and tough process. Creating an immersive gaming experience can use text-to-speech and voice AI. Generative neural networks are ML tools that make vast possibilities in gaming possible. 

Conversational AI helps to create storyboards and narratives as well as testing environments that were otherwise manual and a long process until the use of AI.

4. Social media chatbots & conversational commerce: 

Thanks to an Instagram chatbot, businesses can scale their customer care operations without investing in expanding the teamIt improves agent response time by up to 99%. Facebook, Instagram and WhatsApp are the Metaverses to be on.

Instagram alone has over a billion active users every month. 50% of them follow at least one company. 80% of users decide whether to buy a product or service on Instagram. Instagram, WhatsApp and Messenger chatbots are great mediums of conversational commerce that helps improve CX, build trust, reduce drop-offs, reduce cart abandonment, increase users and exponentially impact sales.

5. Total Experience: 

By 2024, organizations providing a total experience will outperform competitors by 25% in satisfaction metrics for both CX and EX. As per Gartnerthe total experience is a business strategy that harmonizes employee experience, customer experience, user experience and multi-experience across multiple touchpoints to accelerate growth. Total-experience drives better customer and employee confidence, satisfaction, loyalty and advocacy through holistic management of stakeholder experiences.

6. Hyperautomation: 

Gartner estimates a 30% reduction in operational costs due to a boost in productivity led by hyperautomation. ​​Hyperautomation is to rapidly identify, vet and automate as many business and IT processes as possible. It involves the orchestrated use of multiple technologies, tools or platforms, including:

  1. Artificial intelligence (AI)
  2. Machine learning
  3. Event-driven software architecture
  4. Robotic process automation (RPA)
  5. Business process management (BPM) and intelligent business process management suites (iBPMS)
  6. Integration platform as a service (iPaaS)
  7. Low-code/no-code tools
  8. Packaged software
  9. Other types of decision, process and task automation tools

“CEOs know they must accelerate the adoption of digital business and are seeking more direct digital routes to connect with their customers,” says David Groombridge, VP Analyst, Gartner. “But with an eye on future economic risks, they also want to be efficient and protect margins and cash flow.” 

Automation lets you achieve exactly that. If you’d like to plan ahead for 2022 and see how AI can help you save costs and grow revenues, talk to us.

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