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2020-2021 Intelligent Virtual Agent Product and Market Report

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    Report

  • June 2020
  • Region: Global
  • DMG Consulting LLC
  • ID: 5062091

Essential Solutions in the Midst of COVID-19

The critical role of IVAs on the front line of self-service during the COVID-19 crisis has eliminated any doubt about the efficacy of these solutions. Once the recovery process is underway and the “new normal” takes hold, adoption is expected to increase.


Essential solutions in the midst of COVID-19


The pandemic has highlighted the need for organizations to develop and implement reliable disaster recovery (DR)/business continuity (BC) plans as well as comprehensive self-service solutions. In the world of customer service, IVAs are becoming mission-critical tools as organizations strive to maintain their service levels while responding to today’s unprecedented service demands. IVAs provide 24 x 7 support, in some cases providing fully automated self-service to replace a diminished staff of live agents.


IVAs have many advantages over outdated, inflexible IVR solutions. IVAs can be programmed and implemented rapidly, in some cases without the assistance of IT staff. IVAs are using artificial intelligence (AI) and machine learning (ML), which enable them to respond to customer inquiries with concierge-style service. Consumers can utilize natural language to speak or write an inquiry, and when an IVA needs to escalate a transaction to a live agent, it can pass on the transaction with context and stay on the line, using ML capabilities to “listen” and “learn” so that it can handle similar transactions more effectively on its own in the future. IVAs can improve internal business processes as they assist employees by automating tasks, increasing productivity and improving accuracy.


Timely and comprehensive analysis of this critical sector


The 2020 - 2021 Intelligent Virtual Agent Product and Market Report provides an in-depth analysis of these solutions, which should become an elemental part of the strategic direction of contact centers and customer service departments. This Report examines the IVA market, competitive landscape, technology, products, functional capabilities, and the business, servicing and market trends that are driving adoption and innovation. It features 7 leading and contending vendors who offer IVA solutions that address front- and back-office functions and other enterprise-wide uses: Artificial Solutions, Avaamo, Inference Solutions, Kore.ai, Omilia, Rulai and Verint Systems.


The Report includes:


  • Definition of an IVA and the key distinctions between IVAs and robotic process automation (RPA)
  • High-level overview of the underlying technical components of IVA solutions
  • Market trends and challenges that are driving interest, adoption and innovation in this sector
  • IVA vendor innovation and near-term roadmaps, including new product features and what is planned to be delivered in the next 12 - 18 months
  • Insightful discussion of the foundational role of AI and automation in contact center applications and their impact on the contact center of the future
  • Predictions for the future of IVA and self-service
  • Review of how IVAs are delivering seamless and intelligent self-service in the customer’s channel of choice
  • A look at the top use cases for IVAs in the contact center and back office, and the growing number of applications for IVAs across the enterprise
  • IVA vendor market activity
  • Review of the IVA competitive landscape, including the technology sectors that are developing AI-based IVA solutions and an overview of the 7 featured IVA vendors, their product offerings and packaged solutions
  • Detailed side-by-side comparative analysis of the technical and functional aspects of the 7 featured IVA solutions
  • Implementation analysis, including vendor methodology, best practices, professional services, training, maintenance and support
  • IVA benefits and return on investment (ROI) analysis
  • IVA pricing structure, by vendor
  • Results of a comprehensive customer satisfaction survey, which ranks vendors based on customer satisfaction across 10 product capabilities, 10 product effectiveness categories and 10 vendor categories
  • Detailed company reports for the 7 IVA vendors, analyzing product functionality and near-term product roadmap deliverables
  • IVA Vendor Directory
Please Note: A customer license letter agreement needs to be signed prior to delivery of this product. This letter will be sent to you via email after your order is placed.

Table of Contents


1. Executive Summary2. Introduction
3. Research Methodology
3.1 Report Participation Criteria


4. Intelligent Virtual Agents Defined
4.1 IVA vs. RPA


5. Anatomy of an IVA
5.1 High-Level Technical Components


6. IVA Trends and Challenges
6.1 IVA Trends
6.2 IVA Challenges


7. IVA Market Innovation8. AI: The Force Behind the Contact Center of the Future9. Projections for the Future of Self-Service
10. IVAs: Intelligent Self-Service in the Customer’s Channel of Choice
10.1 Customer-Facing Use Cases
10.2 Escalating from Automated to Live Assistance


11. IVA for the Enterprise
11.1 Contact Center Use Cases
11.2 Non-Contact Center Use Cases


12. IVA Market Activity Analysis13. IVA Market Projections
14. IVA Competitive Landscape
14.1 IVA Company Snapshot
14.2 IVA Vendor Offerings and Products
14.3 Packaged IVA Offerings


15. IVA Technical Analysis
15.1 High-Level Technical Analysis
15.2 High-Level Cloud Infrastructure
15.3 Integration
15.4 Security and Compliance


16. IVA Functional Analysis
16.1 High-Level Functional Analysis
16.2 Administration/Design and Content Development Environment
16.3 Accuracy and Tuning
16.4 Dashboards, Reporting and Analytics


17. IVA Implementation Analysis18. IVA Benefits and Return on Investment19. IVA Pricing Structure
20. IVA Vendor Satisfaction Survey and Analysis
20.1 Summary of Survey Findings and Analysis: Vendor Categories
20.1.1 Vendor Satisfaction by Category and Customer
20.2 Summary of Survey Findings and Analysis: Product Capabilities
20.2.1 Product Capabilities Satisfaction Ratings, by Category and Customer
20.3 Summary of Survey Findings and Analysis: Product Effectiveness
20.3.1 Product Effectiveness Satisfaction Ratings, by Category and Customer
20.4 Customer Background and Insights
20.4.1 Business Units Using IVAs
20.4.2 Channels Supported
20.4.3 Top 3 Benefits from IVA Solutions
20.4.4 Top 3 IVA Challenges
20.4.5 Additional Comments


21. Company Reports
21.1 Artificial Solutions
21.2 Avaamo Technologies, Inc.
21.3 Inference Solutions
21.4 Kore.ai
21.5 Omilia Natural Language Solutions Ltd.
21.6 Rulai
21.7 Verint Systems


List of Figures
Figure 1: IVAs vs. RPA
Figure 2: IVA vs. RPA
Figure 3: Conversational Intelligent Virtual Agent
Figure 4: Technical Components Summary
Figure 5: 2020 IVA Trends
Figure 6: 2020 IVA Challenges
Figure 7: New Product Features, by Vendor
Figure 8: Future Enhancements, by Category
Figure 9: Premise-Based Contact Center Infrastructure
Figure 10: Cloud-Based Contact Center Infrastructure
Figure 11: The Contact Center AI Brain
Figure 12: Omni-Channel Capabilities
Figure 13: Customer-Facing Applications
Figure 14: Escalations
Figure 15: Contact Center and Enterprise IVA Use Cases
Figure 16: Contact Center IVA Use Cases
Figure 17: Non-Contact Center IVA Use Cases
Figure 18: IVA Market Share, by Customers, as of January 31, 2020
Figure 19: Total Number of IVA Customers, 2020 vs. 2019 Comparison
Figure 20: IVA Projections by Number of Customers, 2020 - 2024
Figure 21: IVA Competitive Landscape
Figure 22: Company Information, as of February 2020
Figure 23: Product Information
Figure 24: Packaged/Verticalized Applications
Figure 25: High-Level Technical Summary
Figure 26: High-Level Cloud Infrastructure
Figure 27: Integration
Figure 28: Security and Compliance
Figure 29: High-Level Functional Summary
Figure 30: Administration/Design and Content Development Environment
Figure 31: Accuracy
Figure 32: Dashboards, Reporting and Analytics
Figure 33: Implementation Analysis
Figure 34: Return on Investment (ROI)
Figure 35: Pricing Structure
Figure 36: Customer Survey Rating Categories
Figure 37: Average Vendor Satisfaction Ratings, by Category
Figure 38: Product Satisfaction Ratings, by Customer
Figure 39: Implementation Satisfaction Ratings, by Customer
Figure 40: Training Satisfaction Ratings, by Customer
Figure 41: Professional Services Satisfaction Ratings, by Customer
Figure 42: Ongoing Service and Support Satisfaction Ratings, by Customer
Figure 43: Product Innovation Satisfaction Ratings, by Customer
Figure 44: Responsiveness to Product Enhancement Requests Satisfaction Ratings, by Customer
Figure 45: Vendor Communication Satisfaction Ratings, by Customer
Figure 46: Pricing Satisfaction Ratings, by Customer
Figure 47: Overall Vendor Satisfaction Ratings, by Customer
Figure 48: Product Capabilities Satisfaction Ratings, by Category
Figure 49: Omni-Channel Capabilities Satisfaction Ratings, by Customer
Figure 50: Design Tools Satisfaction Ratings, by Customer
Figure 51: AI Capabilities Satisfaction Ratings, by Customer
Figure 52: NLU/NLG Satisfaction Ratings, by Customer
Figure 53: Customer-Facing Self-Service Satisfaction Ratings, by Customer
Figure 54: Employee-Facing Self-Service Satisfaction Ratings, by Customer
Figure 55: Employee-Assisted Capabilities Satisfaction Ratings, by Customer
Figure 56: Automation Satisfaction Ratings, by Customer
Figure 57: Ease of Integration with Third-Party Applications Satisfaction Ratings, by Customer
Figure 58: Ability for Non-Technical Resources to Build and Maintain IVAs Satisfaction Ratings, by Customer
Figure 59: Product Effectiveness Satisfaction Ratings, by Category
Figure 60: Ability to Improve Self-Service Containment Rates Satisfaction Ratings, by Customer
Figure 61: Ability to Improve Customer Satisfaction and Engagement Satisfaction Ratings, by Customer
Figure 62: Ability to Improve Employee Engagement Satisfaction Ratings, by Customer
Figure 63: Ability to Maintain Context Across Multi-Modal Interactions Satisfaction Ratings, by Customer
Figure 64: Ability to Identify and Incorporate Customer Preferences Satisfaction Ratings, by Customer
Figure 65: Ability to Handle Interactions in Multiple Languages/Dialects Satisfaction Ratings, by Customer
Figure 66: Ability to Kick Off Automated Functions Without Human Intervention Satisfaction Ratings, by Customer
Figure 67: Ability to Access and Present Appropriate Content from Knowledge Bases or Other Repositories to Customers and/or Employees Satisfaction Ratings, by Customer
Figure 68: Ability to Help Your Organization Comply with Privacy Regulations Satisfaction Ratings, by Customer
Figure 69: Accuracy, Tuning and Ongoing System Optimization Satisfaction Ratings, by Customer
Figure 70: What business units are using IVAs?
Figure 71: What channels do you use your IVA solution to support?
Figure 72: What are the top 3 benefits that your IVA solution provides?
Figure 73: What are the top 3 challenges of your IVA solution?
Figure 74: Additional comments about your experience with the vendor and/or product.

Samples

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Companies Mentioned

  • Artificial Solutions
  • Avaamo Technologies, Inc.
  • Inference Solutions
  • Kore.ai
  • Omilia Natural Language Solutions Ltd.
  • Rulai
  • Verint Systems