2018 Intelligent Virtual Agent Product and Market Report

  • ID: 4604069
  • Report
  • Region: Global
  • DMG Consulting LLC
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The Digital Transformation is Driving Companies to Reimagine their Servicing Strategies and Operations

FEATURED COMPANIES

  • Artificial Solutions
  • Inbenta Technologies
  • Interactions LLC
  • Verint Systems
  • MORE

The digital transformation is driving companies to reimagine their servicing strategies and operations. Now that artificial intelligence (AI) and speech recognition capabilities have become more accurate, the time is right for businesses to make long-overdue investments to improve their self-service capabilities with IVAs.

New-age self-service:

It’s time for businesses to make long-overdue investments to improve their self-service capabilities with IVAs. Today’s leading service environments combine the best of self-service automation with human assisted elements. Recent advancements in AI technology, along with consumer preferences for self-service options in digital channels, are driving interest in and adoption of IVAs. IVAs are getting “smarter” thanks to the increasing use of machine learning, which enables IVAs to “learn” from past interactions to improve their understanding of what customers want and need. IVAs assist agents by providing them with information drawn from knowledge bases, customer profiles, and other online sources to optimize and personalize each customer interaction, allowing them to make the most of each service and sales opportunity. This results in reduced operating costs for the enterprise and a highly personalized experience for each and every person who reaches out to or is contacted by the organization.

Authoritative and in-depth analysis of this growth sector:

The 2018 Intelligent Virtual Agent Product and Market Report provide a timely and thorough analysis of this sector and the 5 featured vendors who offer solutions to address service, contact centers, and other enterprise functions. The Report analyzes vendors, products, functional capabilities, prices, and more. It includes information about the uses of these solutions, their benefits, and best practices to help realize the greatest return on an investment in IVAs. The 5 vendors covered in detail in this Report are: [24]7.ai, Artificial Solutions, Interactions, Omilia and Verint. Inbenta is covered at a higher level.

Key Elements of this Report:

  • Service deployment options for IVA solutions
  • Definition of IVAs: what they are, how they work, how they differ from robotic process automation (RPA), and an examination of the technical components that comprise these solutions
  • Market trends and challenges that are driving investments and influencing the direction of vendor research and development (R&D)
  • IVA market innovation, including new product features and what is planned to be delivered in the next 12 - 18 months
  • Discussion of the digital transformation of the front office, including top contact center initiatives to lay the groundwork for success
  • An insightful look at how IVAs, artificial intelligence (AI), and machine learning are altering the servicing world and enabling the contact center of the future
  • A look at how IVAs combine the best of self-service automation augmented with human-assisted elements to raise the bar for self-service
  • Examination of the top front- and back-office uses of IVAs
  • Review and analysis of the IVA competitive landscape
  • IVA vendor market activity and 5-year projections
  • Overview of the 5 featured IVA vendors, including company snapshots, go-to-market strategies, product offerings and packaged/verticalized applications
  • Detailed side-by-side analysis of the functional and technical capabilities of the 5 featured IVA solutions
  • Implementation analysis, including vendor methodology, best practices, required resources, training and professional services, and maintenance and support
  • IVA benefits and return on investment (ROI) analysis
  • Review of IVA pricing strategies
  • Comprehensive customer satisfaction survey results that measure and rank vendors across 15 product components, 10 effectiveness categories and 11 vendor categories
  • Detailed company reports for the 6 IVA vendors, analyzing their products, functionality and future product development plans
  • IVA Glossary of Terms
  • Comprehensive IVA Vendor Directory
READ MORE
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Artificial Solutions
  • Inbenta Technologies
  • Interactions LLC
  • Verint Systems
  • MORE

1. Executive Summary

2. Introduction

3. Research Methodology
3.1 Report Participation Criteria

4. Service Delivery Models
4.1 Vendor Service Delivery Options

5. What are Intelligent Virtual Agents?
5.1 Definition of IVAs
5.2 Vendor Definitions
5.3 IVA vs. RPA
5.4 Technical Components of IVAs

6. IVA Trends

7. IVA Challenges

8. IVA Market Innovation
8.1 New Product Features
8.2 Emerging Capabilities

9. Digital Transformation of the Front Office

10. The AI-Enabled Contact Center
10.1 AI and Machine Learning Enter the Service World

11. IVAs Disrupt the Self-Service Landscape
11.1 Omni-Channel and Self-Service Capabilities

12. IVA Front- and Back-Office Uses

13. IVA Competitive Landscape
13.1 Technology Sectors Delivering IVA Solutions

14. IVA Market Activity

15. IVA Market Projections

16. IVA Vendors and Solutions
16.1 Company Snapshot
16.2 Go-to-Market Strategy
16.3 Vendor Offerings and Products
16.4 Packaged/Verticalized Solutions

17. IVA High-Level Technical Summary
17.1 Integration
17.2 Accuracy and Tuning

18. IVA High-Level Functional Summary
18.1 Administration/Design and Development Environment
18.2 Security
18.3 Dashboards, Reporting and Analytics

19. IVA Implementation Analysis
19.1 Implementation Best Practices
19.2 Resources
19.3 Training and Professional Services
19.4 Maintenance and Support

20. IVA Benefits and Return on Investment

21. IVA Pricing Structure

22. IVA Customer Satisfaction Survey
22.1 Summary of Survey Findings and Analysis: Vendor Categories
22.1.1 Vendor Satisfaction by Sub-Category and Customer
22.2 Summary of Survey Findings and Analysis: Product Categories
22.2.1 Product Satisfaction by Sub-Category and Customer
22.3 Summary of Survey Findings and Analysis: Product Effectiveness
22.3.1 Product Effectiveness by Sub-Category and Customer
22.4 Customer Background and Insights
22.4.1 Top IVA Use Cases
22.4.2 Business Units Using IVAs
22.4.3 IVA Omni-Channel Support
22.4.4 Top Challenges to Solve with an IVA
22.4.5 Strengths of IVA Solutions
22.4.6 Recommendation
22.4.7 Product Enhancements
22.4.8 Additional Comments

23. Company Reports
23.1 [24]7.ai, Inc.
23.2 Artificial Solutions
23.3 Inbenta Technologies
23.4 Interactions LLC
23.5 Omilia Natural Language Solutions Ltd.
23.6 Verint Systems

Appendix A: IVA Glossary of Terms
Appendix B: IVA Vendor Directory

Table of Figures:
Figure 1: Service Delivery Model Definitions
Figure 2: IVA Vendor Service Delivery Options
Figure 3: Vendor IVA Definitions
Figure 4: IVAs vs. RPA
Figure 5: Product Overview
Figure 6: Technical Components Summary
Figure 7: 2018 IVA Trends
Figure 8: 2018 IVA Challenges
Figure 9: New Product Features, by Vendor
Figure 10: New Product Features, by Category
Figure 11: Future Application Enhancements, by Category
Figure 12: Digital Transformation
Figure 13: Top Contact Center Digital Transformation Initiatives
Figure 14: Contact Center Evolution
Figure 15: AI for Contact Centers Demystified
Figure 16: AI Capabilities
Figure 17: IVA: The Future of Self-Service
Figure 18: IVA Omni-Channel Capabilities
Figure 19: Front-Office and Back-Office Applications
Figure 20: IVA Competitive Landscape
Figure 21: IVA Market Share, by Customers, as of April 30, 2018
Figure 22: IVA Projections by Customer, 2019 - 2023
Figure 23: Company Information as of April 2018
Figure 24: IVA Go-To-Market Strategy
Figure 25: Product Information
Figure 26: Packaged/Verticalized Applications
Figure 27: High-Level Technical Summary
Figure 28: Integration
Figure 29: Accuracy
Figure 30: High-Level Functional Summary
Figure 31: Administration/Design and Development Environment
Figure 32: Security
Figure 33: Dashboards, Reporting and Analytics
Figure 34: Implementation Process
Figure 35: Top 10 IVA Implementation Best Practices
Figure 36: Internal Resources Required to Maintain an IVA
Figure 37: Training and Professional Services
Figure 38: Maintenance and Support
Figure 39: Benefits and Return on Investment (ROI)
Figure 40: Pricing Structure
Figure 41: Customer Survey Rating Categories
Figure 42: Average Satisfaction Ratings, by Category
Figure 43: Company Satisfaction Ratings, by Customer
Figure 44: Product Satisfaction Ratings, by Customer
Figure 45: Implementation Satisfaction Ratings, by Customer
Figure 46: Training Satisfaction Ratings, by Customer
Figure 47: Professional Services Satisfaction Ratings, by Customer
Figure 48: Ongoing Service and Support Satisfaction Ratings, by Customer
Figure 49: Product Innovation Satisfaction Ratings, by Customer
Figure 50: Responsiveness to Product Enhancement Requests Satisfaction Ratings, by Customer
Figure 51: Pricing Satisfaction Ratings, by Customer
Figure 52: Vendor Communication Satisfaction Ratings, by Customer
Figure 53: Overall Vendor Satisfaction Ratings, by Customer
Figure 54: Product Satisfaction Ratings by Category
Figure 55: Omni-Channel (Digital) Capabilities Satisfaction Ratings, by Customer
Figure 56: Design Tools Satisfaction Ratings, by Customer
Figure 57: Ease of Set-Up/Configuration/Maintenance Satisfaction Ratings, by Customer
Figure 58: Artificial Intelligence (AI) Capabilities Satisfaction Ratings, by Customer
Figure 59: Machine Learning Satisfaction Ratings, by Customer
Figure 60: NLU/ NLP Capabilities Satisfaction Ratings, by Customer
Figure 61: Accuracy and Tuning Capabilities Satisfaction Ratings, by Customer
Figure 62: Customer Self-Service Capabilities Satisfaction Ratings, by Customer
Figure 63: Employee Self-Service Capabilities Satisfaction Ratings, by Customer
Figure 64: Employee-Assisted Capabilities Satisfaction Ratings, by Customer
Figure 65: Automation Capabilities Satisfaction Ratings, by Customer
Figure 66: Ability to Deliver Real-Rime Employee Guidance Satisfaction Ratings, by Customer
Figure 67: Reporting and Dashboards Satisfaction Ratings, by Customer
Figure 68: Ease of Integration with Third-Party Applications Satisfaction Ratings, by Customer
Figure 69: Ongoing System Optimization Satisfaction Ratings, by Customer
Figure 70: Product Effectiveness Ratings, by Category
Figure 71: Ability to Deliver a Personalized Customer Experience Satisfaction Ratings, by Customer
Figure 72: Ability to Improve Productivity Satisfaction Ratings, by Customer
Figure 73: Ability to Increase the Use of Self-Service Satisfaction Ratings, by Customer
Figure 74: Ability to Increase the use of Digital Channels Satisfaction Ratings, by Customer
Figure 75: Ability to Reduce Operating Costs Satisfaction Ratings, by Customer
Figure 76: Ability to Reduce Customer Effort Satisfaction Ratings, by Customer
Figure 77: Ability to Reduce Employee Effort Satisfaction Ratings, by Customer
Figure 78: Ability to Address Regulatory and Compliance Requirements Satisfaction Ratings, by Customer
Figure 79: Ability to Increase Sales Satisfaction Ratings, by Customer
Figure 80: Ability to Improve the Customer Experience Satisfaction Ratings, by Customer
Figure 81: Please list the top 3 ways you are using this technology
Figure 82: What business units are using IVAs?
Figure 83: In what channels have you deployed an IVA?
Figure 84: What are the top 3 - 5 challenges you are addressing with your IVA solution?
Figure 85: What are the top 3 - 5 strengths of your IVA solution?
Figure 86: Given your experience with this vendor, would you recommend their product?
Figure 87: What product enhancements would you like to see?
Figure 88: Additional comments about your experience with the vendor and/or product.

Note: Product cover images may vary from those shown
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  • [24]7.ai, Inc.
  • Artificial Solutions
  • Inbenta Technologies
  • Interactions LLC
  • Omilia Natural Language Solutions Ltd.
  • Verint Systems
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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