A virtual customer assistant is a programming application that replicates human-like conversations to deliver information to customers, including text-based and speech-based engagements. The VCA adapts to the content and context of user inputs by combining natural-language processing and conversational artificial intelligence by updating its data repositories in real-time, providing sustained and strong customer value proposition, and enabling organizations to have an open channel to serve and communicate with their customers.
Quadrant Knowledge Solutions’ VCA market research includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, emerging technology trends, market trends, and future market outlook. The study provides a comprehensive market forecast analysis of the global market and the overall market adoption rate as well. This research provides strategic information for technology vendors to better understand the existing market and support their growth strategies, and for users to evaluate different vendors’ capabilities, competitive differentiation, and market position.
The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK Matrix analysis. The SPARK Matrix includes ranking and positioning of the leading VCA vendors with a global impact including – [24]7.ai, Aivo, Amelia, Artificial Solutions, Boost.ai, Creative Virtual, DigitalGenius, DRYiCE by HCL Technologies, EdgeVerve, eGain, Enterprisebot, IBM, Inbenta, Interactions, Kore.ai, LogMeIn, Microsoft, Nuance, Omilia, Uniphore, and Verint.
According to Kunal Pakhale, Analyst at Quadrant Knowledge Solutions, “The growing desire for automation in the service industry is boosting the usage of virtual customer assistants to provide an enhanced customer experience. To create a smooth customer experience, organizations are leveraging virtual customer assistants (VCA) that are capable of undertaking multiple customer service tasks, including navigating the website, delivering product information, helping customers pay bills, and routing customer service issue inquiries to human agents. These solutions are also increasingly being used for emerging use cases such as incorporating AI, ML, and workflow automation to enhance the productivity at contact centres since VCAs with AI/ML capabilities can deliver responses at a much faster rate. The inclusion of AI also enhances the implementation of security and compliance, better inter-departmental communication, and employee leave applications, examine reimbursement information, and keep a tab on working hours”.
2022 Virtual Customer Assistants SPARK Matrix
Source: Quadrant Knowledge Solutions
Table of Contents
Executive Overview
- Key Research Findings
Market Overview and Technology Trends
Factors Influencing Technology Development and Market Growth
Market Adoption Trends
Competition Landscape and Analysis
- Competitive Overview and Analysis
- Factors and Technology Differentiators
SPARK Matrix™: Virtual Customer Assistants (VCA)
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