Used before by only large companies, Intelligent Virtual Assistants (IVA) take advantage of the latest technological advances and have now become accessible to small organizations. Easy to set up and inexpensive to maintain, they are an ideal solution for companies looking for a digital transformation!
- A Fast, Growing Market
According to a recent study by Grand View Research, the Intelligent Virtual Assistants market is booming and projected to reach over $12 billion by 2024.
Usually reserved for large accounts (i.e. banking, insurance, energy, utilities, etc.), IVAs are now available to SMEs, whose market share continues to increase, with a growth rate estimated at nearly 36% over the next 8 years.
Big players like Apple, Google or Facebook helped to democratize IVAs, or chatbots, to the general public. With the digital transformation, it becomes necessary to meet the expectations of customers immediately at any time, and on any device.
- IVA Solutions: More Efficient and More Affordable
Chatbots are undergoing a revolution, and no longer out of reach for SMEs. Before, implementation was complex and operating costs were often too high for SMEs. However, the latest advances in artificial intelligence and new dialogue interfaces (leveraging speech recognition and natural language processing) have made possible the emergence of new solutions tailored to small businesses. Read more about this in our blog Living Actor™ designs the future of Virtual Assistants!.
Digital Assistants have become easier to use and maintain, and their implementation is no longer complex. Anyone can set up a Living Actor™ chatbot, so specialized web expertise is not required.
- Benefits of IVAs for SMEs
Like a human advisor offering expertise in a store or by phone, the IVA provides an authentic social dimension and support users directly on SME web sites. The IVA engages web visitors in a conversation and answers their questions. By quickly identifying needs, the IVA is also able to guide site navigation.
IVAs are available 24 / 7. This creates a real advantage resulting in lower costs for customer service support, and a responsive marketing capability that is able to highlight web site offers based on customer interactions.
IVAs allow SMEs to delegate and offload simple tasks so they can concentrate more closely on their business. An IVA is also a way to stand out from the competition by offering excellent customer service associated with a more engaging, and playful experience.
Living Actor ™ IVAs have already proven to provide enhanced service quality and a number of benefits for large accounts (see our customers Millennium BCP and Natixis Interépargne). Living Actor ™ IVAs are making strides in providing SMEs with exceptional customer service in the USA and Europe. So, will there soon be a tailor-made Living Actor ™ solution for SMEs?