| dc.description.abstract | With Artificial Intelligence (AI) being the popular technological intervention in business, almost all major companies are incorporating AI into their functions for various applications. Natural Language processing is growing increasingly important in customer engagements for businesses across the world.
Particularly voice applications of AI are becoming integral to enhancing customer experience, increasing sales and reducing operational expenses to consumer facing industries. Multiple Industries like BFSI, healthcare, retail, eCommerce, Travel and Hospitality are finding applications for AI to build and maintain customer relations.
Business Insider estimates that conversational AI shall save around $11 bn in Banking, healthcare and retail industries annually by 2023 (Insider Intelligence, 2022) Also, 70 percent of consumers will replace their visits to shops or banks with their voice assistants over the next three years, as per Capgemini (Capgemini).
India has around 500 million mobile users (Saxena, 2021). With many non-native English speakers in the country, it is imperative that their interactions with the internet be made accessible to them in their native language to improve their internet adoption. We explored the use cases of voice AI in the Indian context and the companies operating in the space. Through the project, we aimed to understand the existing use cases of conversational AI, the companies operating in the spaces and further scope for the companies. | en_US |
