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Study: Global chatbot market to grow 24.4% in next 4 years

July 3, 2018

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Apple helped to popularize chatbots with the introduction of its voice-enabled digital assistant Siri eight years ago, but most chatbots are focused on text conversations, especially since mobile messaging is a staple of smartphone functionality. A major driver of chatbot growth will be the cost savings that the conversational software provides to businesses by streamlining their customer service. Consulting firm Accenture estimates that by 2035, the AI technology that powers more sophisticated chatbots will double economic growth rates in 12 developed countries and boost labor productivity by up to 40% by automating tasks such as responding to most customer inquiries.

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