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LET's CHAT - AI-based Conversations

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NASSCOM report titled LET’s  CHAT - AI-based Conversations discusses how the advancements in Artificial Intelligence are leading to adoption of Chatbots across different sectors and business functions. The reports provides insights on the start-up landscape, covering aspects such as investment scenario, M&A landscape, etc. The report also covers case studies from Chatbot providers and users, highlighting innovations and applications of chatbots

Key Findings

Chatbot Landscape
  • India is one of the most attractive Chatbot markets in the world in terms of total start-up funding, positioned third after the US and the Europe, respectively
  • India features 150+ chatbot start-ups, 27 of these funded in last five years
Key Business Functions and Sectors
  • Chatbots find highest adoption in Customer Service function, performing tasks such as handling queries and service requests, provide product information, answer FAQs, etc.
  • BFSI is one of the early adopters and largest implementers of Chatbots, deployed primarily in customer-facing role
Market Drivers
  • The market is driven by increasing customer expectations, increasing proliferation of messaging apps, enterprises’ focus on improving productivity and reducing cost, increasing availability of data, among others
Outlook
  • With technological advancements, future Chatbots are expected to be scalable, intelligent, cognitive and support multiple languages to provide personalized contextual responses

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