58 Conversational AI Statistics You Can’t Ignore

Artificial intelligence today is a transformative reality. As pioneers in this realm, Netomi presents a comprehensive list of 58 conversational AI statistics. These figures not only highlight the growing influence of conversational AI and AI chatbots but also offer a glimpse into the future of human-machine interaction.

Global Market and Industry Projections for AI and Chatbots

1. By 2030, the global market for conversational AI is projected to reach $32.62 billion – Statista
2. In 2021, 86% of US executives expressed their agreement that AI would become a “mainstream technology” for their businesses – Deloitte
3. In 2019, the market value of chatbots in the banking, financial services, and insurance (BFSI) industry amounted to $586 million. By 2030, it is projected to reach $7 billion – Accenture
4. Between 2020 and 2025, the conversational AI market is projected to grow by 22%, reaching nearly $14 billion – Statista
5. In 2018, global chatbot revenue amounted to approximately $41 million. By 2027, it is projected to reach close to $455 million – Gartner

Adoption and Usage of AI and Chatbots by Businesses

1. The adoption of AI for digital marketing among marketers worldwide increased from 29% in 2018 to 84% in 2020 – Statista
2. Nearly 80% of customer-facing virtual assistants used by tech workers worldwide are utilized for customer service purposes – Statista
3. Chatbots currently represent the most prevalent use of AI in business, and their adoption is expected to nearly double in the next two to five years – Statista
4. Due to advancements in conversational AI technologies, nearly 80% of CEOs have modified or plan to modify their client engagement strategies – Statista
5. 74% of companies that incorporate chatbots into their customer service plans are satisfied with the outcomes – Gartner

Conversational AI Statistics: User Interaction with Chatbots

1. As of 2022, 91.0% of adults who use a voice assistant do so on a smartphone – Statista
2. According to a survey conducted by CouponFollow in April 2021, the majority of US voice assistant users employ the technology for browsing and product searching – Statista
3. As of February 2022, 53% of individuals in the US have engaged with a customer service AI chatbot in the past year – Deloitte
4. The primary reasons US shoppers use chatbots are to inquire about business hours (18%), obtain product information (17%), or seek customer service support (16%) – Deloitte
5. In the US, 43% of digital banking users prefer using live chat or robots to resolve issues – Chatbot Magazine
6. 33% of individuals would choose a robot for making hotel or restaurant reservations – Chatbot Magazine
7. 84% of users who interacted with GRT Hotels & Resorts’ chatbot, GReaTa, provided their contact information, and 40% were ready to make a booking – Gartner
8. 34% of in-store shoppers feel comfortable interacting with customer service through an AI robot – Gartner
9. In 2019, approximately 40% of US consumers engaged with retail businesses through chatbots – Gartner
10. More than half of consumers desire businesses to be available 24/7 – Accenture
11. 40% of users don’t mind whether their questions are answered by an AI tool or a human, as long as they receive an answer – Accenture
12. 71% of customers are willing to interact with chatbots, while 29% have no interest – Accenture

Specific Use Cases for AI and Chatbots

1. Two-thirds of respondents find a travel chatbot helpful for managing their business and work trip plans – Chatbot Magazine
2. 37% of users prefer booking travel or comparing booking options with an intelligent chatbot rather than a human – Chatbot Magazine
3. The most commonly sold items online with the assistance of robots are clothing (22%), followed by health goods (9%), furniture (9%), electronics (8%), and jewelry (8%) – Gartner
4. The most popular and preferred use for a chatbot is checking the status of an order, with 71% of customers choosing a chatbot over a human agent – Gartner

Trust, Preference, and Satisfaction with AI and Chatbots

1. According to a survey, 39% of US respondents are hesitant to trust AI voice assistants in making phone calls on their behalf – Deloitte
2. Around 30% of service robot users express satisfaction with the service they receive – Chatbot Magazine
3. 68% of people who have interacted with a bot appreciate its quick response time, and 42% value its availability after regular business hours – Gartner
4. More than half of users want bots to disclose that they are, in fact, bots – Gartner
5. 80% of users who have interacted with a chatbot report a positive buying experience – Accenture
6. 22% of respondents trust chatbot product recommendations – Accenture
7. 27% of individuals couldn’t distinguish between their last customer service interaction with a real person or a chatbot – Accenture
8. 80% of customers report a positive experience when using chatbots to solve problems – Gartner

Conversational AI Statistics in the Retail, Banking, and Travel Industries

1. 87% of users expressed their willingness to use a travel chatbot if it can save them time and money – Accenture
2. The top five industries benefiting the most from chatbots are real estate (28%), travel (16%), education (14%), healthcare (10%), and finance (5%) – Accenture
3. One in four travel and hospitality companies utilize chatbots for customer inquiries and reservations – Gartner

Conversational AI Statistics for Customer Service

Conversational AI has revolutionized customer service in unprecedented ways, transforming it from a traditionally reactive function to a proactive, personalized, and efficient service. With the ability to process and respond to customer queries instantly, 24/7, conversational AI eliminates long wait times and enhances customer satisfaction. It’s not just about speed, though.

These intelligent systems are capable of understanding context, sentiment, and intent, enabling them to provide tailored responses that address individual customer needs. Furthermore, they can learn from each interaction, continuously improving their performance over time. This means that businesses can provide high-quality service consistently, while also freeing up human agents to handle more complex tasks. In essence, conversational AI is not just improving customer service – it’s redefining what excellent service looks like.

1. In a May 2021 poll, 73% of North American customer service decision-makers predicted that online chat, video chat, robots, or social media would become the most popular customer assistance channels within three years – Statista
2. The utilization of chatbots resulted in an average sales increase of 67% – Deloitte
3. 38% of customers believe that brands should offer deals, coupons, and sales through chatbots – Accenture
4. 69% of respondents prefer to use robots for immediate answers, and the same number said they are most likely to use them for service-related inquiries – Accenture
5. 86% of users want the ability to switch from a robot to a human at any time – Chatbot Magazine
6. 55% of people would likely try a robot that offers location-based deals – Chatbot Magazine
7. 62% of individuals have interacted with a bot when shopping online – Gartner

AI and Chatbots Impact on Work Efficiency and Cost Saving

1. By using AI chatbots, businesses can cut operational costs by up to 30% – Chatbot Magazine
2. Employing chatbots can result in an increase of more than 300% in ROI – Gartner
3. According to a survey conducted by IDC, chatbots will handle 80% of customer service inquiries by 2025 – Accenture
4. The banking sector saved 862 million hours, or $4.5 billion, in 2020 by using chatbots – Gartner
5. By 2025, global businesses will save up to $8 billion annually with AI chatbots – Chatbot Magazine

Challenges and Limitations of AI and Chatbots

1. Approximately 46% of consumers believe that chatbots do not understand their needs – Deloitte
2. 31% of customers reported dissatisfaction with chatbot interactions because they did not receive a detailed enough answer – Accenture
3. More than half of respondents (58%) have stopped using a chatbot due to a lack of personalization – Gartner
4. 35% of individuals find chatbot communication to be frustrating – Accenture

Future Expectations and Predictions Regarding AI and Chatbots

1. 95% of customers believe ‘customer service’ will be the major beneficiary of chatbots – Accenture
2. In the next 3 to 5 years, 90% of businesses are expected to adopt some form of AI chatbot technology – Gartner
3. By 2024, AI is expected to handle more than half of all customer service requests – Gartner
4. The travel industry is expected to spend nearly $150 million on AI chatbots by 2021 – Chatbot Magazine
5. By 2024, 80% of all customer interactions will be managed without human intervention – Gartner

Summary

As we navigate through the digital age, it’s clear that conversational AI is a game-changer for customer service. As the journey of AI continues to unfold, its impact is undeniable and its potential immense. Some of these conversational AI statistics might have surprised you, but AI has made its splash and it’s here to stay.

One thing remains certain: companies that adapt and innovate will lead the way. Among these trailblazers, Netomi is committed to shaping a future where conversational AI makes every customer interaction more efficient, personalized, and delightful.

Sources

• Deloitte
• Statista
• Forbes
• Chatbot Magazine
• Gartner
• PWC