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Conversational AI Market to Cross USD 46.37 Billion by 2028 as Result of Rising Need for Effective Customer Support Services



Westford USA, Jan. 19, 2023 (GLOBE NEWSWIRE) — The conversational AI market is growing rapidly due to increased demand for AI-powered customer support services, lower chatbot development costs, and omnichannel implementation. With conversational AI becoming a more critical technology, businesses must implement chatbots or virtual assistants with the proper parameters. As a result, conversational AI is increasingly becoming popular across the globe thanks to improved 24/7 customer support, real-time personalized service, and lower customer service costs. In addition, digitalization and e-commerce are expanding quickly, creating ideal circumstances for the demand for customer support services, thereby fueling market growth.

According to SkyQuest’s market insight, businesses spend nearly USD 1 trillion on call center IT, handling more than 255 billion consumer calls annually. Enterprises are quickly using conversational AI in their contact centers to supplement current human labor and free up their bandwidth for more strategic work to address the increasing strain. It helps businesses cut costs by millions of dollars and optimize call center operations.

Artificial intelligence (AI) that engages in conversation automates communication, generates individualized consumer experiences, and supports speech-based assistants and chatbots. Additionally, a subset of conversational AI enables people to interact daily with gadgets, programs, and websites via voice, touch, text, or gesture data.

Solution Segment to Register Significant Growth Rate owing to Rise in Adoption of AI technology by Large-Scale Enterprises

As per SkyQuest’s industry analysis, the solution segment dominated the global conversational AI market with a 53% market share in 2022 and is projected to follow the same pattern to reach 59% by 2025. Large-scale adoption of internal conversational AI technology by enterprises is attributed to the segment’s overwhelming share. The services are necessary for conversational AI systems to function well.

The total sales of conversational AI in the US were estimated to be worth USD 3.2 billion in 2022. By 2028, the US conversational AI market is anticipated to be worth US$16.8 billion. North America is predicted to lead the market throughout the forecast period due to the region’s widespread adoption of impending technology breakthroughs and the quickly rising need for customer support services utilizing artificial intelligence.

The report on the conversational AI market includes information on market regulations, value chain optimization, market share, and the effects of major international market participants. It also covers strategic growth analysis, category market growth, application niches, product approvals, new product launches, and technological advancements. In addition, the research report offers a comprehensive analysis of the market, contains insightful information, and aids readers in learning about the many growth aspects anticipated to be present across the market.

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Chatbot Segment to Reach its All-Time High Year Revenue Share as Industry Witnesses Huge Traction

By SkyQuest’s projection, the chatbots segment held 57% of the revenue share in 2022 and is anticipated to make a remarkable addition by 2028. The growth can be attributed to its ability to improve customer service significantly. The majority of their use is for data collection. Customers can communicate with chatbots to set up appointments, request information, or obtain clarification on any service or product. A variety of conversational AI service providers in the market produce digital assistants and chatbots with limited user-personalized features. The potential for incorporating innovations such as gesture detection into conversational AI services is enormous.

China is anticipated to witness a CAGR of 18.3% throughout the forecast period, growing its market size to US$ 3.4 billion in 2028. In addition, increasing demand for online shopping during COVID-19 and the adoption of improved AI capabilities to improve on current conversational AI services have created the potential for conversational AI market growth in the Asia Pacific region.

The conversational AI market report’s outcomes are verified using multi-level research and interviews with industry experts. Through additional market estimation and data validation processes, the data covered in the market report is further optimized and featured with accurate statistics. Additionally, to anticipate market growth during the projected period, we created a data forecasting approach internally to ensure reliable projections.

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Key Developments in Conversational AI Market

  • Leading Conversational AI expert Artificial Solutions® has established a new cooperation with American business and technology consultancy firm Neudesic. With this cooperation, Neudesic can expand its offering of solutions to help businesses get the most out of their investments in conversational AI by including Artificial Solutions’ Teneo platform. The goal of the agreement is to help Neudesic, and Artificial Solutions increase the use of conversational AI across the United States.
  •, a leading conversational AI and platform solutions company, and mParticle, an AI-native customer data platform for consumer brands, have announced a partnership. The partnership will provide a natural language processing (NLP)-based AI-first search engine and intelligent chatbots that personalize shopping experiences for retail customers. To improve customer service in areas ranging from purchases to support, the alliance will enable firms with digital shopping interfaces to install NLP search assistants and intelligent chatbots powered by consumer information.
  • Microsoft has announced the public availability of Azure OpenAI Service. Additionally, the business has disclosed that it will soon integrate OpenAI’s popular chatbot ChatGPT into the cloud-based service. Enterprise users of Microsoft can integrate OpenAI models into their business applications using the Azure OpenAI Service. Businesses have leveraged the service for sophisticated use cases like customer assistance, customization, and deriving insights from data using search, data extraction, and categorization.
  • A pioneer in conversational AI, Cognigy recently revealed that its Cognigy.AI platform would be improved with generative AI, or large language models (LLMs) like OpenAI’s GPT-3, to support conversational AI deployments. By fostering sophisticated conversational experiences and increasing productivity, generative AI will contribute to the continued transformation of enterprise customer service and contact centers.

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Prominent Players in Conversational AI Market

  • Amazon Web Services, Inc.
  • Baidu, Inc.
  • Artificial Solutions Holding ASH AB
  • Haptik
  • Conversica Inc.
  • Microsoft Corporation
  • IBM Corporation
  • Google LLC
  • Oracle Corporation

Related Reports in SkyQuest’s Library:

Global IT Operations Analytics Market

Global Smart Materials Market

Global Network Security Market

Global Ingestible Sensor Market

Global Intelligent Process Automation Market

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Artificial Intelligence





AutoCanada Inc. (“AutoCanada” or the “Company”) (TSX: ACQ), a multi-location North American automobile dealership group, announced key promotions and additions to its leadership team.

Jeff Thorpe, who joined the Company as President, Canadian Operations in April 2022, will have responsibility for all operations in North America as President, North American Operations.  Brian Feldman, who joined as Senior Vice President, Canadian Operations and Disruptive Technologies in April 2022, has been appointed as Chief Operating Officer of the Company.

“Jeff and Brian have proven themselves over the last year and have been instrumental in driving our strong performance through their focus on operational initiatives in Canada.  We are very pleased to provide Jeff with the increased responsibility of oversight over our U.S. operations, in addition to Canadian operations, and to appoint Brian as the Chief Operating Officer of the Company,” said Paul Antony, Executive Chairman of the Company.

In addition, Drew Forret will be appointed as Chief Administrative and Transformation Officer and Michael Fera will join as Vice President, Financial Planning and Analysis, each effective in the fourth quarter of 2023.  These new roles will support the Company’s renewed focus on fiscal discipline.

“We are very excited to welcome Drew and Michael to the AutoCanada team.  Drew and Michael’s significant and proven experience in driving high-performance business cultures with scalable best practices and fiscal discipline will be invaluable for AutoCanada as we continue on the next leg of our journey,” said Mr. Antony.

Drew has over 20 years of experience focusing on the leadership and scaling of growth-based organizations.  He most recently held the position of Chief Operating Officer and Chief Financial Officer of Voices, a platform that connects businesses with professional voice talent.  Prior to Voices, Drew was the Chief Operating Officer and Chief Financial Officer of CarProof, a provider of vehicle history reports, and President of Activplant, an originator of manufacturing intelligence software.  Michael has over a decade of experience in financial planning and analysis.  He joins us from Tim HortonsCanada’s leading quick-service restaurant chain, where he served as Head of Finance for the Canadian business.  In addition, Michael held several operational roles spanning development, franchising, non-traditional business and real estate during his tenure with Tim Hortons.

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Huawei’s Brand-New Digital and Intelligent Foundation Upgrades Aviation and Rail Industries




SHANGHAI, Sept. 25, 2023 /PRNewswire/ — In parallel with HUAWEI CONNECT 2023, Huawei’s Aviation & Rail BU held three global summits specifically oriented to the BU’s niche.

Using an upgraded digital and intelligent foundation, Huawei dives deep into a wide variety of industry scenarios and expedites the intelligent development of aviation and rail through multi-dimensional awareness, ubiquitous connectivity, and open platforms.
China West Airport Group (CWAG) chose Huawei to jointly develop a comprehensive intelligent transformation strategy.
According to Lin Bin, CWAG’s Deputy General Manager, his company has created 35 intelligent solutions for security, operations, services, and other scenarios using Huawei’s high-performance computing power and open intelligent platforms, as well as advanced algorithms for the industry.
For airport operations, digital and intelligent ground handling solutions forecast the real-time status of flights, passengers, and resources, as well as promptly generating warnings. They also intelligently dispatch ground handlers as needed. The solutions increase ground support efficiency by 20% and shorten the time support takes by 17%. In addition, smart airport operation solutions have introduced the optimal flight plan result model to achieve best supply-demand matching and AI-assisted operation command.
Ever-evolving technologies have brought both challenges and opportunities to enterprise digital transformation and intelligent upgrade. Li Junfeng, Vice President of Huawei and CEO of Huawei’s Aviation & Rail BU, delivered an opening speech at the global railway summit. He explained that as GSM-R gradually exits the market, the railway industry requires a next-generation mobile communications system to ensure efficiency and benefits, as well as maintain high-quality development. In response, Huawei is thinking about how it can leverage AI to better serve the railway industry, and have built practices and made remarkable achievements during its journey.
Huawei teamed up with Huitie Technology to develop the Smart Railway TFDS Solution, which uses the Pangu Railway Model with 3 billion parameters. The solution covers all TFDS scenarios and effectively identifies over 430 types of faults on 67 vehicle models with a comprehensive fault identification rate exceeding 99.3%. It ensures near-zero missed inspections for critical faults and triples the operational efficiency.”
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Hexagon’s Sixth Sense Announces Nine Startups to Transform Manufacturing Sustainability and Digital Reality




Selected innovators leading the charge in reshaping manufacturing for a sustainable future
COBHAM, England, Sept. 25, 2023 /PRNewswire/ — Today, Hexagon’s Manufacturing Intelligence division announced the nine manufacturing startups chosen for its third Sixth Sense cohort. The selected companies were chosen from a highly competitive pool of hundreds of applicants, distinguishing themselves with groundbreaking solutions addressing critical manufacturing challenges, with a focus on sustainability and digital reality.

The selected startups, which hail from seven countries, bring unique approaches to some of today’s most critical manufacturing challenges, such as improving product sustainability, eliminating waste, capturing real-time data, automating design, and incorporating cobots into production lines. As part of the Sixth Sense program, they will gain access to Hexagon’s invaluable market insights, accumulated over decades of collaboration with industry-leading technology giants, which will accelerate their journey to commercial success.
Hexagon, the industrial software leader that plays a pivotal role in manufacturing 90% of aircraft, 75% of smartphones, and 95% of all automobiles worldwide, launched Sixth Sense in January 2022. This initiative is designed to nurture startups within the manufacturing industry by supporting them with Hexagon’s extensive resources.
The nine startups are:
Acerta Analytics, Canada: Acerta Analytics provides advanced analytics solutions that leverage machine learning and artificial intelligence (ML/AI) to turn complex product data into actionable insights. The solution enables automakers and suppliers of complex vehicle parts to improve quality in manufacturing processes and supports early defect detection.Circularise, Netherlands: Circularise offers digital product passports for end-to-end traceability and secure data exchange in industrial supply chains. Its technology helps companies achieve transparency and sustainability by tracking the lifecycle of products and materials.Dessia, France: Dessia offers a platform featuring virtual “bots” that serve as companions to assist engineers in designing mechanical systems. These virtual assistants provide support and insights throughout the design process.Flexxbotics, Boston, US: Flexxbotics specialises in enabling high-mix automation-intensive manufacturers to create flexible next-generation machining environments. It utilises breakthrough FlexxCORE™ technology to seamlessly connect and coordinate collaborative robots with existing automation equipment, IT systems, and personnel to deliver autonomous process control.Launchpad, Los Angeles, US: Launchpad utilises AI and advanced simulation technologies to automate aspects of the design, procurement, and manufacturing process. Its focus is on concepts like mass customization, micro-factories, and software-defined robotics to create shorter supply chains, reduce waste, and deliver new features faster in the manufacturing industry.Rafinex, Luxembourg: Rafinex’s stochastic AI topology optimization for safe, lightweight designs. This technology actively manages uncertainty and risks of real-life variability to create uniquely robust designs that remain safe even in off-design load conditions for application in safety-critical performance sectors such as aerospace, automotive, and tooling.RV Magnetics, Slovakia: RV Magnetics has developed the world’s smallest passive sensor based on MicroWire technology. This sensor combines unique capabilities from electromechanics, electronics, chemistry, physics, applied magnetism, and industrial design, offering diverse applications.ToffeeAM, London, UK: ToffeeAM provides state-of-the-art multi-physics generative design software for engineering. Its mission is to empower engineers to optimise engineering components and systems efficiently, enabling them to go further and faster in design processes.Zaptic, Manchester, UK: Zaptic provides job instruction and collaboration tools for frontline teams, along with a no-code toolkit designed to accelerate the digital transformation of daily operations. The solutions help organizations streamline processes and improve communication among frontline workers.These startups will embark on an intensive 16-week journey as part of the Sixth Sense program, collaborating closely with Hexagon to refine their offerings. Ultimately, up to three winners will be selected from the cohort, granting them access to Hexagon’s extensive resources for global expansion, including potential funding, worldwide office space, and Hexagon’s comprehensive suite of products and services. Additionally, they will be showcased on Hexagon’s open digital reality platform for manufacturing, Nexus, providing them access to world-class companies.
“For this third cohort, we’ve been on the hunt for new innovations that enable manufacturing leaders to lead the net-zero transition – especially with sustainable product design – and we’re thrilled with the caliber of the startups we’ve found to participate,” said Josh Weiss, president of Hexagon’s Manufacturing Intelligence division. “Sixth Sense is designed to pinpoint emerging opportunities for greater innovation, and we’re thrilled to give these companies that are poised for high-growth access to resources and customers that they typically wouldn’t have at this stage in their lifecycle.”
“Hexagon’s commitment to nurturing innovation and driving sustainable manufacturing practices continues to shine through,” said Milan Kocić, head of Sixth Sense, Hexagon. “Each of these startups has demonstrated their capacity to address pressing manufacturing challenges with creativity and determination. Much like our previous cohorts have addressed critical industry challenges, we believe these innovators will play a crucial role in shaping a sustainable future for the manufacturing industry.”
About Sixth SenseHexagon technologies are used to manufacture 90% of aircraft, 75% of smartphones, and 95% of every automobile produced worldwide. It has the scale, the network, and the ambition to make a difference. As we enter the era of Industry 4.0, Sixth Sense was launched to discover smart and efficient solutions that will boost performance and benefit people and the planet. By inviting the next generation of innovators to the table, Hexagon aims to share its resources and make connections that accelerate progress – pushing the boundaries of design, manufacturing, and engineering and starting to imagine a better future for the benefit of everyone. To follow Sixth Sense, and learn about the ecosystem and opportunities for participation, visit
About HexagonHexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future. Hexagon’s Manufacturing Intelligence division provides solutions that use data from design and engineering, production and metrology to make manufacturing smarter. For more information, visit
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at and follow us @HexagonAB.

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