This represents average annual growth of 400% over the next four years. The research identified the retail sector as a key beneficiary of advances in NLU (Natural Language Understanding) technologies.
The research anticipates that over 50% of retail chatbot interactions will be completed successfully by 2024, without the need for human intervention. Additionally, the research found that 80% of global consumer spend over chatbots will be attributable to discrete chatbots by 2024. These are embedded directly into a retailer’s mobile app, rather than accessed via a browser or messaging application.
The research anticipates that control over development and the ability to retain company branding will drive discrete chatbots to become the most popular chatbot medium in retail.
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