What are Chatbots?
Computer programs that simulate human response and carry out communication on behalf of employees for repetitive or multiple tasks.
Chatbots today have accomplished more than just robotic responses due to the introduction of artificial intelligence (AI) and machine learning(ML) for its software development.
Almost all major websites and mobile apps make use of the chatbots for providing 24*7 support & assistance to their users.
Market Trends
More companies are investing in Chatbot development every day due to the unprecedented capabilities displayed in its development to mimic human response.
Chatbot technology has made its way into many industrial verticals ranging from healthcare, banking, It industry, eCommerce, travel & hospitality, real estate, etc.
According to Business Insider, the Chatbot industry is projected to grow from $2.6 billion in 2019 to $9.4 billion by 2024 at a compound annual growth rate (CAGR) of 29.7%
