Value of global chatbot market stands at more than USD 2.7 billion says global company
Dubai, UAE, 16 May 2023: ValueFirst, a global leader in enterprise communication services headquartered in Dubai, has made available Open AI’s ChatGPT on its Conversational Artificial Intelligence (AI) products. This connection would dramatically improve chatbot conversations across OTT platforms, including WhatsApp, for Middle Eastern customers.
Conversational AI is a technology that allows chatbots to speak with consumers in a more human-like manner by utilizing natural language processing and machine learning techniques. ValueFirst’s Conversational AI services will now be capable of comprehending and reacting to user queries more accurately and efficiently, thanks to the integration of Open AI’s ChatGPT.
Arvind Kalla, ValueFirst’s Regional Director – Middle East, commented on the integration, saying, “We are excited to incorporate Open AI’s ChatGPT into our Conversational AI offerings.” This will allow us to create a more intuitive and efficient chatbot experience for our consumers, allowing them to swiftly and easily obtain the information they require.”
The announcement comes as conversational AI, the next big thing in customer experience and communications, continues to gain traction in the Middle East and Africa region and around the world.
According to a poll commissioned by ValueFirst, the present value of the chatbot market is more than USD 2.7 billion, with the industry expected to reach USD 9.4 billion by 2024. According to the same analysis, the chatbot market will develop even faster from 2016 to 2023, with 80% of organizations planning to adopt chatbots this year.
According to a PwC Middle East analysis, the region’s yearly growth in AI contribution is predicted to be between 20 and 34%, with the UAE leading the way, followed by Saudi Arabia.
An artificially intelligent mode of communication mimics human reactions using digital and telecommunication channels, satisfying both customer and organizational needs.
Customer service, sales, and marketing are some of the use cases for ValueFirst’s Conversational AI products. These use cases will become much more effective with the integration of Open AI’s ChatGPT, allowing businesses to communicate with their customers on a deeper level.
ValueFirst’s Conversational AI products are already being used by a variety of Middle Eastern enterprises, including banks, airlines, and e-commerce firms. With the introduction of Open AI’s ChatGPT into the company’s services, these enterprises will be able to provide a more personalized and engaging experience to their customers.
