The future development of AI chatbots is expected to bring significant advancements in their capabilities and impact on our daily lives. According to a Deloitte Insights report, the global conversational AI market, including chatbots and intelligent virtual assistants, is projected to grow at a CAGR of 22% between 2020 and 2025, reaching almost US$14 billion by 2025. Chatbots currently represent the top use of AI in enterprises, and their adoption rates are expected to almost double over the next two to five years. Advancements in Natural Language Processing (NLP) and Machine Learning (ML) are propelling chatbots toward a future where their conversations closely mimic human interaction, providing users with more natural and engaging experiences. Additionally, the development of multimodal systems that can juggle images, sounds, and videos as well as text is expected to further enhance the capabilities of AI chatbots.
As AI chatbots become more sophisticated, their use is expected to become even more widespread, and they will be used in various areas beyond customer service and data collection. According to Tidio's 80 Chatbot Statistics for 2024, chatbots will be used in marketing, human resources, and operations, among other areas. The best AI chatbots of 2024, such as ChatGPT and the new Bing, will be powered by conversational AI and use cutting-edge language models like OpenAI's GPT-4 and Google DeepMind's Gemini. These advancements will enable chatbots to provide more efficient and personalized services to customers and employees, ultimately transforming the enterprise world. However, experts say that chatbots will need to address their flaws and keep up with AI trends to fully realize their potential benefits for businesses. As AI chatbots become more intelligent, conversational, and helpful, they have the potential to end the spiral of misery that customer service chatbots have been associated with in the past.