Opus Research estimates that enterprises around the world are spending roughly $2 billion to bring elements of artificial intelligence (AI) into their customer care fabric, usually in the form of Conversational Intelligent Assistants. We expect that spending to double over the next five years, but recognize that global estimates for spending on “Conversational AI” from other respected research houses are expected to reach $16 billion by the mid-2020s.

AI adoption in the coming decade will be driven by business objectives, such as increasing sales, reducing costs, improving customer satisfaction, increasing customer retention and loyalty.

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