In 2018, the ‘Internet of Things’ has rapidly moved from a theoretical concept to a tangible reality, with nearly 11 billion ‘things’ (not including phones and computers) now connected to the internet. (more…)
July 31, 2018
Posted by: Zenobia Hegde
We live in a futuristic present, where technologies once considered restricted to the realms of science fiction are now penetrating our daily lives – automation, robotics, virtual reality (VR) and cloud computing to name but a few. (more…)
July 10, 2018
Posted by: Zenobia Hegde
A new report from Juniper Research has found that the adoption of chatbots across the retail, banking and healthcare sectors will realise business cost savings of $11 billion (€9.42 billion) annually by 2023, up from an estimated $6 billion (€5.14 billion) in 2018.
The research found that these cost savings will be derived from the reduced amount of time spent on customer service enquiries. Using chatbots, businesses will dramatically cut response and interaction times via phone and social channels. It forecast that consumers and businesses combined will save over 2.5 billion hours by 2023 in these sectors.
Retail to cash in on chatbot invasion
The new research, Chatbots: Banking, eCommerce, Retail & Healthcare 2018-2023, found that the retail sector will gain the most benefits from chatbot technology, with Juniper estimating that by 2023 over 70% of chatbots accessed will be retail-based.
It highlighted both customer service and eCommerce as key use cases, although cautioned that greater investment in chatbot functionality will be required to meet consumer expectations. In that context, Juniper forecasts that improvement in AI, as shown recently by Google’s Duplex, to create a more personable user experience would be fundamental in creating a ‘pull’ factor for chatbots.
Juniper cited benefits such as cost savings, up-selling, marketing and cart recovery as major retailer chatbot ‘push’ factors. Retailers will take advantage of these opportunities; propelling chatbot implementation and driving eCommerce transactions via chatbots to reach $112 billion (€95.96 billion) by 2023.
Chatbot integration future of apps
The research found that whilst messaging applications have been the first platforms on which chatbots flourished, chatbot-enabled apps in use will greatly increase as many retailers, financial institutions and healthcare providers integrate the technology into their dedicated apps.
By 2023, Juniper forecasts that over 50% of the chatbots accessed will be through discrete apps, with complete bot integration overturning the make up of current app functionality.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
For more market insights, download the free whitepaper: ‘How Chatbots will Transform the Retail Industry’.
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July 4, 2018
Posted by: Zenobia Hegde
Wearables are experiencing one of the longest gestational periods of any technology. For a long time, says Rufus Grig, CTO of Maintel, gadgets like Google Glass and the Apple Watch were perceived by many as being a bit “emperor’s new clothes”: intriguing conceptually, but disappointing functionally. (more…)
July 3, 2018
Posted by: Zenobia Hegde
A new study from Juniper Research has found that the adoption of voice assistants such as Alexa and Google Assistant will be a key factor behind smart home growth, with 275 million voice assistant devices used to control smart homes by 2023. This is up from an estimated 25 million in 2018, a growth of 1,000%. (more…)
June 26, 2018
Posted by: Zenobia Hegde
While Alexa for Hospitality offers numerous features that will appeal to hoteliers and their guests, privacy concerns will likely limit growth and prevent broader implementation of the technology in a majority of the world’s hotels. (more…)
June 25, 2018
Posted by: Zenobia Hegde
People Power, an Internet of Things (IoT) software company providing white-label solutions for home security, energy and care, has launched an accelerated development initiative to refine the company’s IoT solutions for the insurance industry. (more…)
June 22, 2018
Posted by: Zenobia Hegde
Veea Inc., a global provider in smart applications, announced the acquisition of the UK-based Virtuosys Ltd., a company delivering Smart network solutions at the network edge. (more…)
June 14, 2018
Posted by: Zenobia Hegde
Convenience and flexibility are the benefits unlocked by Vivitek’s new NovoDS Cloud, an optional cloud-based service that enables device and content management of Vivitek’s NovoDS family of digital signage solutions. (more…)
June 13, 2018
Posted by: Zenobia Hegde
The increasing popularity of the smart home is confirmed by new research from Strategy Analytics showing that global demand for smart home devices will exceed sales of smartphones by 2023. Consumers worldwide bought 663 million smart home devices in 2017, and this will increase to 1.94 billion in 2023, when sales of smartphones will be 1.86 billion. (more…)
June 8, 2018
Posted by: Zenobia Hegde