| | SEPTEMBER 20246CIOReviewConversational AI has witnessed a rapid rise in the recent years. The market is driven primarily by its ability to enhance customer experiences, improve operational efficiency and drive innovation. Businesses across various industries are increasingly adopting these solutions to provide 24/7 customer support, automate routine tasks and gain valuable insights from customer interactions. Estimated at USD 10.65 billion in 2024, the conversational AI market is expected to reach USD 44.38 billion by 2031, growing at a CAGR of 22.6 percent during the forecast period.Trends like hyper-personalization, multimodal interactions and emotional intelligence takes center stage as the next step in the evolution of conversational AI. Hyper-personalization is making AI increasingly adept at understanding individual preferences, needs and emotions, leading to more engaging and empathetic interactions. In addition, the integration of multiple modalities, such as images and video, is expanding the possibilities for natural communication. These advancements are driving the development of more sophisticated and versatile conversational AI applications across various industries.This edition of CIO Review delves into the recent developments in conversational AI and how companies can leverage the evolving technology to enhance their service offerings. It features thought leadership articles from Janne Lautanala, chief ecosystem and technology officer at Fintraffic and Bob Bress, VP and head of data science at FreeWheel. Lautanala speaks to how businesses can utilize AI to increase efficiency, foster innovation and gain a competitive edge, while Bress highlights that constructing teams for AI development is not solely about assembling talent but entails creating ecosystems of perpetual learning, collaboration and innovation.Along with insights from industry experts, the magazine also features BEN, a software development company that empowers businesses to fully leverage the capabilities of generative AI with the help of an AI assistant. Designed to be helpful, creative, clever and friendly the assistant is trained on customer-approved data and can deliver human-like responses using natural language to the medical, automotive and retail sector.In this edition featuring the Top Conversational AI Solutions Providers of 2024, we hope you'll find the right partner that provides you with the best conversational AI solutions that help you enhance your services.Let us know your thoughts!EditorialUnlocking New Levels of Business Efficiency Copyright © 2024 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewEmail:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com SEPTEMBER - 20 - 2024, Vol 13, Issue - 43 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasGina ClumskyYenny TurnerTiffany HayworthAbner LawrenceVisualizersHenry Smith*Some of the Insights are based on our interviews with CIOs and CXOsJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin Smith
< Page 5 | Page 7 >