International Data Corporation (IDC) has published a new IDC Innovators report profiling three companies that provide conversational software platforms utilizing artificial intelligence (AI) for use in the retail sector. The three companies are Yellow.ai, NLPBots, and AskSid.ai.
Conversational AI software platforms are a subsegment of the artificial intelligence software platforms market, which enables communication with applications, websites, and devices in a humanlike dialect through voice or text. Retail enterprises are deploying conversational AI technologies across customer-facing touchpoints to automate processes and extend human capabilities through process augmentation. This allows the organizations to create empathy at scale shaping the future of customer engagement.
“The conversational AI solutions will have a notable impact not just on existing retail environments but also would drive the redesigning of shopping ecosystems. Retail companies would be adopting chatbots to bridge the gap between online and offline channels to improve customer experiences,” said Swapnil Shende, senior market analyst for Artificial Intelligence.
“Retailers are exploring AI solutions to deliver tailor-made customer experience. Conversational AI accelerates query solving and streamlines processes, thereby delivering a personalized multichannel experience,” said Rishu Sharma, Principal Analyst, Cloud & AI, IDC India.
The report, IDC Innovators: Conversational AI Software Platforms in Retail in India, profiles three emerging vendors that offer conversational AI software platforms in retail in India.
- Yellow.ai provides the cognitive engagement cloud platform to enable enterprises to automate business processes that drive customer & employee engagement.
- NLPBots is a deep learning algorithm platform, capable of learning from user interactions and can carry out relevant conversations for various business scenarios.
- AskSid.ai is a B2B-vertical SaaS conversational AI full-stack solution for retail and CPG brands delivering accelerated conversations by simplifying shoppers’ journeys, enriched shopper profiles, and organizations’ product catalogs.
About IDC Innovators
IDC Innovators reports presenting a set of vendors – under US$100 million in revenue at the time of selection – chosen by an IDC analyst within a specific market that offers innovative new technology, a groundbreaking approach to an existing issue, and/or an interesting new business model. It is not an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies. Vendors in the process of being acquired by a larger company may be included in the report provided the acquisition is not finalized at the time of publication of the report. Vendors funded by venture capital firms may also be included in the report even if the venture capital firm has a financial stake in the vendor’s company. IDC INNOVATOR and IDC INNOVATORS are trademarks of International Data Group, Inc.