Digital Lifescapes

Mobile communications applications continue to evolve in response to new technology use cases. Telecom service providers and software vendors are now exploring applications for Artificial Intelligence (AI) capabilities. Generative AI (GenAI) is a type of artificial intelligence that can create new content, such as text, images, audio, and video assets. Applications of GenAI within the communications sector include generating personalized messages for each customer, chatbots that can answer customer queries, and creating targeted marketing campaigns to generate leads and sales for brands and enterprises. Telecom GenAI Market Development According to the latest worldwide market study by Juniper Research, enterprise spending on GenAI over mobile messaging channels will grow by 1,250 percent over the next four years -- that's from $830 million in 2024. Juniper predicts that the ability to automate the personalization of content, including marketing efforts and customer interactions ov...

Enterprise leaders with large customer care organizations are exploring Artificial Intelligence (AI) applications to improve their online customer experience, increase operational efficiency, and reduce costs to improve profitability. Trained AI can be used to automate tasks, such as answering routine questions, freeing up contact center agents to focus on more complex inquiries. AI can also be applied to personalize the customer experience by recommending new offerings. Additionally, AI can be deployed to analyze vast amounts of existing customer data to identify support trends and patterns, which can be used to improve the overall customer experience. Customer Care AI Market Development Worldwide Contact Center (CC) and Conversational AI, including virtual assistant end-user spending is projected to total $18.6 billion in 2023 -- that's an increase of 16.2 percent from 2022, according to the latest market study by Gartner. "Near-term investment growth rates for CC and CC Con...

Chatbots are now integrated within messaging software, mobile apps, websites and online services that use Digital Assistants as a form of communication. Chatbots can also be hosted on APIs in a variety of digital channels such as Over-the-Top messaging apps and telecom provider Rich Communications Services platforms. According to the latest worldwide market report by Juniper Research, global retail spend over chatbots is forecast to reach $12 billion in 2023 -- that's growing to $72 billion by 2028. AI Chatbot Market Development Increasing by 470 percent over 5 years, much of this growth will be driven by the emergence of cost-effective open language models, most notably ChatGPT, in regions such as North America and Europe. Open language models consist of large neural networks that are trained on substantial quantities of online information and learn through low levels of human supervision. According to the Juniper assessment, they are implemented into chatbots to automate function...

Across the globe, many enterprise CIOs and CTOs have already deployed several use cases that deliver effective customer care applications through cloud-based contact center solutions. Today's contact centers allow customers to interact online with service representatives within an organization. Historically, customers were only able to reach organizations via voice telephone calls. However, after legacy call centers developed into modern 'contact centers', this enabled customers to communicate via their preferred method online. As companies continue to develop contact centers and invest in prominent technologies such as cloud services, contact centers began to adapt their architecture from on-premises to cloud-based solutions due to their increased flexibility, reliability, scalability, and security. CCaaS Market Development According to the latest worldwide market study by Juniper Research, the global Contact Center-as-a-Service (CCaaS) market revenue will reach $15.6 bill...

In the recent past, banking relationships have traditionally been at the epicenter of the consumer economy. Banks have also been important due to their risk absorption functions for businesses and their value in helping to shape public policies. However, with new fintech startups disrupting the relationship between customers and their financial institutions, legacy banks are now required to evolve and adapt their business model much faster. As progressive government policies eroded the barriers of entry for service introductions by fintech players, several forms of traditional banking transformation have accelerated in demand and growth. Online Financial Services Market Development According to the latest worldwide market study by Juniper Research, 53 percent of the world’s population will access digital banking services in 2026 -- reaching over 4.2 billion digital banking users, that's up from 2.5 billion in 2021. The research study identified an increase in digital transformation...

The global eCommerce market gained new momentum as the COVID-19 pandemic transformed many legacy business sectors. As an example, conversational commerce enables end-users of smart devices to leverage them for commercial purposes -- including retail transactions and online banking. The ecosystem for conversational commerce has evolved with many communication service providers acting as the primary point of connection between the end-users of these devices and the brands, enterprises, and financial institutions that use them. According to the latest worldwide market study by Juniper Research, the global conversational commerce spend over rich communication services (RCS) messaging will reach $27 billion by 2025 -- that's rising from less than $10 million in 2021. Conversational Commerce Market Development This phenomenal growth will be driven by increasing RCS support from telecom network operators and growing interest from business leaders wishing to capitalize on this emerging eCo...

More organizations are adopting new technologies that improve online commerce automation. Conversational commerce is the process by which end-users of smart devices are able to leverage them for commercial purposes, including applications within the retail and banking sectors. The ecosystem for conversational commerce has evolved with many telecom providers acting as the primary point of connection between the end-users of these devices and the brands, enterprises and financial institutions that provide them to their customers. According to the latest worldwide market study by Juniper Research, the total spending over conversational commerce channels will reach $290 billion by 2025 -- that's an increase from $41 billion in 2021. This forecast growth represents a rise of 590 percent over the next four years. Conversational Commerce Market Development Juniper analysts predict that communications platforms that provide the connection between brands and end-users will be crucial in inc...

Forward-thinking CIOs and CTOs in the financial services sector have evolved. The increased competition from digital-only challenger banks has redefined customer expectations. While some traditional banks have been disrupted by the rise of fintech, others have advanced and prospered. Tech-savvy bankers chose to adapt and transform the way they operate, in order to lower their operating costs and compete more effectively. The adoption of Artificial Intelligence (AI) and machine learning has been essential to their digital transformation, plus the use of Robotic Process Automation (RPA) platforms. While many of these workflow optimizations are in the back-office processes, most also have a positive customer experience impact. Chatbots are being used to offer a better online user experience. Several banks also offer AI-based insights within their mobile banking apps, or AI-assisted investing via Robo-Advisors. Fintech AI Market Development According to the latest worldwide market study by...

Voice-enabled user interfaces have reached mainstream adoption. The value chain for voice assistants is rapidly expanding to include emerging applications. Device vendors, system integrators, software app developers and cloud providers will offer solutions for a growing list of voice assistant use cases. Juniper Research estimates that voice assistants will be in use on over 4 billion devices by the end of 2020. The mass adoption of artificial intelligence, and chatbots in particular, is fueling the rapid shift towards voice-activated services. Voice Assistant Market Development Internet of Things (IoT) devices and more practical applications are enabling voice assistants to deliver tangible value. Microphones are everywhere and access to voice assistants has become ubiquitous, with more technology companies eager to monetize this trend. Voice communication isn't the only method of interaction with artificial intelligence (AI) software. For example, Google Assistant also su...

Chatbots have become increasingly influential in day-to-day online life. These software applications are developed to automate a range of tasks, from simple banking transactions to answering customer care requests, and have been adopted across industries. The potential use cases for chatbots will increase with advances in artificial intelligence (AI) technology. It's likely that as AI capabilities evolve, chatbots will complete more complex tasks on behalf of a user without requiring assistance from human customer service agents. Retail Chatbot Market Development According to the latest worldwide market study by Juniper Research , consumer retail spending over chatbots will reach $142 billion by 2024 -- that's rising from $2.8 billion in 2019. This represents average annual growth of 400 percent over the next four years. The Juniper analyst findings identified the retail sector as a primary beneficiary of advances in Natural Language Understanding (NLU) technologies. Th...

While much of the prior interest in automation has focused on very limited worker categories and related tasks -- such as traditional manufacturing -- there's now a growing interest in exploring the potential to automate all types of repetitive work. Artificial intelligence (AI) applications -- as an example, virtual personal assistants and chatbots -- are being adopted rapidly within the global workplace. By 2024, Gartner predicts that these technologies will replace almost 69 percent of the typical manager’s workload. AI Applications Market Development "The role of manager will see a complete overhaul in the next four years," said Helen Poitevin, vice president at Gartner . "Currently, managers often need to spend time filling in forms, updating information and approving workflows. By using AI to automate these tasks, they can spend less time managing transactions and can invest more time on learning, performance management and goal setting." According...

The North America retail market is an example of incumbent disruption and slow-moving, executive responses to technology-fueled change. The world's largest consumer-driven economy is likely a precursor to market shifts that will impact retailers across the globe. Clearly, prior success with traditional retailer business models is no indication of the potential for future performance. The emergence of eCommerce giants such as Amazon and eBay from the mid-1990s has created a long-term challenge for most old-school retailers. Many legacy in-store retailers have met this challenge by attempting to offer a compelling omnichannel experience, where the physical retail and online channels merge through the use of solutions such as 'click and collect'. While this has improved the customer experience, it has not prevented the disruption of traditional retailers, with multiple large-scale insolvencies -- including Toys R Us and Sears. Therefore, the surviving retail CxOs must fu...

Ever since the advent of computer use by established banking and insurance organizations in the early 1950s, financial services has been a sector that generates an enormous amount of customer transaction data. That's why they've adopted analytics tools for big data use cases, and it's why they've been one of the first sectors to pilot the deployment and applications of artificial intelligence (AI) systems. AI Chatbot Market Development According to the latest worldwide market study by Juniper Research, the operational cost savings from using chatbots within banking will reach $7.3 billion globally by 2023 -- that's up from an estimated $209 million savings in 2019. This tremendous productivity improvement represents 862 million hours potentially saved for banking business operations by 2023 -- that's equivalent to nearly half a million working years. According to the new research, chatbots can now reduce excessive operational costs in financial service...

Savvy CIOs and CTOs at innovative retailers and other progressive organizations are piloting and deploying new cognitive technologies that enhance their customer experience. This is an acceleration of the ongoing trend that's very likely to transform legacy online support applications. According to the latest worldwide market study by Gartner, 37 percent of customer service leaders are either piloting or using artificial intelligence (AI) bots and virtual customer assistants (VCAs), and 67 percent of those leaders believe they are high-value tools in the contact center. Virtual Customer Assistant Market Development In recent years, no other channel technology has piqued customer care and support leaders’ interest more than AI bots and VCAs, according to Gartner’s Technology Roadmap Survey. In the survey of 452 service leaders across all industries and business types, respondents showed that confidence is leading more companies to adopt the technologies -- with 68 percent of...

Automation can improve commercial productivity by achieving exponential improvements in business performance. Within the digital transformation realm, chatbots hold the potential to replace the tasks of many human workers with Artificial Intelligence (AI) capabilities that are able to conduct fluent conversations. Analysts describe chatbot technologies as computer-based interactive services that utilize software apps designed to simulate conversational capabilities, which may also include automated business processes triggered from these interactions. Chatbot Application Market Development Chatbots are becoming increasingly influential in our day-to-day life. They have been developed to assist a range of industries, from simple banking transactions, to retail customer service enquiries. In fact, the financial services and retail sector are considered most likely to explore chatbot apps. Online retailers, in particular, are being attracted to the technology by the potential for ...

More telecom service providers will invest in emerging technologies that enable them to improve operational productivity via automation, and introduce new capabilities for their customers. Virtual assistant applications are emerging, as telcos start to deploy artificial intelligence (AI) and machine learning (ML). While the telecom network operators are prioritizing these virtual assistants primarily to improve customer engagements and consequently reduce churn rates, they are also positioning themselves to compete directly with Amazon Alexa, Google Assistant, Apple Siri and Microsoft Cortana. Telco Virtual Assistant Market Development According to the latest worldwide market study by ABI Research, the virtual assistants will enable telecom service providers to save $1.2 billion on customer care management by 2022, resulting in a compound annual growth rate (CAGR) of 17 percent over the next five years. "The recent introduction of virtual assistants in customer service sig...

Digital health revolves around the integration of traditional healthcare systems and newer technologies to improve efficiency, value for money and ultimately patient outcomes. Electronic Health Records (EHR) have been a big part of this evolution, promising universal access to key elements of a patient's medical history. As many nations have now adopted EHRs, the debate has moved on to what can be done with this data. Interoperability and analytics have become important requirements of healthcare IT systems. Improving access to healthcare and the convenience of that access has become a key goal. As these new IT systems develop, disruptive technologies are now being utilized as part of the digital health landscape. Leading the charge for this disruption is Artificial Intelligence (AI) and chatbots. Digital Health Market Development According to the latest worldwide market study by Juniper Research , the annual cost savings derived from the adoption of chatbots in healthcare ...

Many enterprises across the globe are not creating mobile applications. According to the findings from a recent Gartner survey, 39 percent of respondents said they had not built, customized or virtualized any mobile apps in the previous 12 months. "Many IT teams will have significant backlogs of application work that need completing, which increases the risk of lines of business going around IT to get what they want sooner," said Adrian Leow, research director at Gartner . "Development teams need to rethink their priorities and span of control over mobile app development, or risk further erosion of IT budgets and the perceived value of IT development." Enterprise Mobile App Market Development According to the survey, those enterprises that have undertaken mobile app development have deployed an average of eight mobile apps, which has remained relatively flat when compared with 2016. On average, another 2.6 mobile apps are currently being developed and 6.2 are ...

Chatbots have the potential to complete many of the tasks currently performed by online workers via utilizing Artificial Intelligence (AI) systems that are capable of fluent conversations with human clients and customers. Chatbots are becoming increasingly influential in day-to-day online life. These applications have been developed to offer assistance in a range of industries -- from simple banking transactions, to eRetail customer service inquiries. The aim of a typical chatbots is to apply AI and cognitive computing technology to streamline routine business processes, such as customer service transactions and eCommerce processes. Chatbot Market Development According to the latest worldwide market study by Juniper Research, chatbots will redefine the customer service industry, with healthcare and banking sectors set to benefit the most from these ongoing application deployments. Juniper forecasts that chatbots will be responsible for cost savings of over $8 billion a year b...

Mobile messaging today encompasses both the more traditional forms of messaging and the popular Over The Top (OTT) messaging services from providers such as WhatsApp and WeChat. Communication has never been so rapid or efficient, with new technologies and apps driving demand. One of the key developments has been the growth of OTT mobile messaging services. Where Mobile Network Operators (MNOs) once saw a good portion of revenue come from SMS, MMS and voice calls, OTT players have offered people a free option -- in the form of messages which can be sent over Wi-Fi or Internet connections, driving demand away from mobile operator networks. OTT Messaging Market Development Juniper Research forecasts that OTT messaging applications -- such as WhatsApp and WeChat -- will see adoption grow from 2.3 billion unique users in 2016 to 4.2 billion by 2021, representing a growth of over 12 percent compound annual growth rate (CAGR). According to the Juniper assessment, the OTT vendors will ...