Thales, a provider in critical information systems, cybersecurity and data security, and Device Authority, a provider in identity and access management (IAM) for the Internet of Things (IoT), announced a jointly developed solution to ensure the authentication of IoT devices (more…)
July 17, 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
Medopad, a UK-headquartered health-tech company is expanding into the USA. The company will be taking up a new office in the heart of New York City at Johnson & Johnson’s (J&J’s) new JLABS office. As part of the USA launch, Medopad will hire top healthtech talent before the end of the year.
July 3, 2018
Posted by: Zenobia Hegde
People Power, Internet of Things (IoT) software company providing white-label IoT solutions for energy, security and care services, has received first year funding of a research grant expected to total US$4.5 million (€3.86 million) over three years. (more…)
June 27, 2018
Posted by: Zenobia Hegde
Zebra Medical Vision, a machine and deep learning start-up, has raised $30 million (€25.47 million) in C round funding, bringing the total investment in the company to $50 million (€42.45 million). The company is also unveiling its Textray chest X-Ray research, which it claims is the most comprehensive AI research (more…)
June 8, 2018
Posted by: Zenobia Hegde
The Berger-Levrault Group, publisher of software for administrative and local public bodies and the healthcare, medico-social, education and business sectors, acquired CARL Software on May 18th. CARL Software specialises in technical asset and maintenance management (CMMS / TAM). (more…)
May 30, 2018
Posted by: Zenobia Hegde
The Behaviour Analytics Market is set to grow from its current market value of more than $200 million (€170.07 million) to over $3.5 billion (€2.98 billion) by 2024; according to a new research report by Global Market Insights, Inc. (more…)
May 23, 2018
Posted by: Zenobia Hegde
Blockchain products in healthcare have proven to have the potential of making interoperability practical and achievable. This innovativeness has been pushed a step further with blockchain products (although few) that are helping to make follow-ups on patient performance, satisfaction, medication, and recovery. Isn’t this amazing?
May 2, 2018
Posted by: Zenobia Hegde
Digital health promises to change the face of healthcare. Reflecting this is growing interest in the digital health space, as evidenced by a substantial $4.7 billion (€3.83 billion) being invested in 2017 as outlined in the brand new report from IDTechEx Research, Digital Health 2018: Trends, Opportunities and Outlook. (more…)
April 5, 2018
Posted by: Zenobia Hegde
A new study from Juniper Research has found that domestic aide robotics will drive consumer robotics hardware revenues from an estimated $6.4 billion (€5.21 billion) in 2018 to nearly $23 billion (€18.74 billion) by 2022; an increase of over 250%. (more…)
April 4, 2018
Posted by: Zenobia Hegde