Insights on Conversational AI

Generative AI is now a competitive necessity in conversational AI, although GenAI performance and use-case value remain key challenges. To competitively differentiate, product leaders must
invest now in emerging GenAI capabilities and provide demonstrable, scalable value or risk falling behind.

Openstream is a sample vendor in this report for Neuro-symbolic AI, Multimodal Architecture, Multimodal UI, and Autogeneration Tools

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The conversational AI market continues to rapidly grow and evolve, largely driven by new GenAI capabilities and changing use cases. Product leaders must rapidly innovate to remain
differentiated by prioritizing emerging tech investments based on new risks, revenue opportunities and adoption timing.

Openstream is a sample vendor in this report for GenAI Virtual Assistants, Conversational Orchestration, Multimodal UI and AI Avatars

Generative AI advancements will reform HMI by complementing or replacing hardware innovations, forcing product leaders to reconsider their investments and product roadmaps. This Impact
Radar reviews 18 emerging technologies/solutions that product leaders must assess to future-proof their offerings.

Openstream is a sample vendor in this report for Multimodal UI

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Generative AI is transforming immersive experiences by enabling new use cases and elevating multidimensional experiences.
Product leaders must collaborate to build a robust ecosystem of technologies aligned to use cases that enhance the functionality and appeal of an immersive device.

Openstream is a sample vendor in this report for AI Avatars

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The metaverse is an immersive environment capable of rendering virtual entities and melding digital and physical systems, representing the next decade’s key convergent trend. This Impact
Radar profiles 20 technologies and trends for product leaders to leverage in building a metaverse strategy.

Openstream is a sample vendor in this report for AI Avatars

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Innovation, intelligence and an improved experience are the themes underpinning enterprise software investments over the next three-year horizon. Enterprise software providers should use emerging technologies that are aligned with these themes to gain competitive advantage.

Openstream is a sample vendor in this report for Multimodal UI

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Many technologies are transforming credit decisioning, expanding loan ecosystems, fostering responsible/sustainable lending, boosting user experience adaptivity and automating processes. This Hype Cycle helps bank CIOs prioritize innovations and modernize their bank’s loan origination capabilities.

Openstream.ai is recognized in this report for Conversational User Interfaces and GenAI-Enabled Virtual Assistants in Banking

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The purpose, form, and function of enterprise applications are undergoing a comprehensive transformation. Applications are moving from being mere tools that support process execution to becoming systems of intelligence that deliver algorithmic process optimization and AI-based decision making.

Openstream.ai is included as a sample vendor for AI Agents

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The rapid evolution of generative AI technologies and techniques continues unabated, as does the corresponding hype, making this tumultuous landscape difficult to navigate. Technology innovation leaders can use this Hype Cycle to identify innovations to exploit as they execute their AI strategies.

Openstream.ai is included as a sample vendor for GenAI-Enabled Virtual Assistants

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The unified communications and collaboration (UCC) market has enterprise telephony, meetings and instant messaging (IM) as its core technologies. Use of collaborative work management, visual collaboration and workstream collaboration applications is increasing for uplifting employee experiences and the maturity of the digital workplace. 

Openstream.ai is included as a sample vendor for GenAI Virtual Assistants

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AI is transforming software engineering with tools like AI code assistants to enhance developer experience and productivity. Software engineering leaders are tasked with leveraging AI in both new and existing applications. This Hype Cycle tracks the latest AI technologies in software engineering.

Openstream.ai is included as a sample vendor for AI Agents

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IT organizations are increasingly turning to AI-oriented tools and technologies to improve IT operations, service management and cybersecurity. I&O leaders and their peers should leverage this
Hype Cycle to improve IT delivery capabilities through a coordinated implementation of AI.

Openstream.ai is included as a sample vendor for GenAI-Enabled Virtual Assistants

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The rapid digitalization of tools and processes has already transformed work and is accelerating in the era of AI. This Hype Cycle offers digital workplace application leaders a sweeping panorama of the most important technologies which impact the future of work.

Openstream.ai is included as a sample vendor for AI Avatar of the Employee, Multimodal UIs, and GenAI-Enabled Virtual Assistants

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Organizations face intense pressure to adapt their workforce to meet new strategic and operational talent needs. This Hype Cycle is essential for workforce planning and strategy discussions for executive leaders seeking to transform their workforce for current and future purposes.

Openstream.ai is recognized as a sample vendor for AI Avatar of the Employee

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Many technologies exist to deliver CX, but data practices and legacy systems continue to hold banks back. Financial services leaders can use this Hype Cycle to learn about the technologies and strategies necessary to bring contextual data to bear in customer journeys across all their channels. 

Openstream.ai is included as a sample vendor for Conversational User Interfaces.

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Generative AI (GenAI)-enabled virtual assistants (VAs) represent a new generation of VAs that leverage large language models (LLMs) to deliver functionality not obtained with traditional conversational AI technology. GenAI enables improved Q&A support, new features and modalities, extended task automation and improved value outcomes.

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GenAI opens new revenue opportunities for service providers offering system integration services that support customer support platforms and processes. Service providers must continue to plan on delivering GenAI services to stay competitive.

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Digital commerce requires an ecosystem approach to deliver rich functionality and customer experiences. Use this tool to identify a long list of vendors in the digital commerce ecosystem, which includes sales, marketing, supply chain, customer service, data analytics and customer experience.

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Accessing virtual reality solutions is increasingly difficult for technology adopters, because the VR market landscape is a mix of product offerings rather than an ecosystem of solutions. Product leaders in enterprise VR software can succeed by creating comprehensive partnerships.

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The market of conversational AI is evolving rapidly and new solutions are emerging. Applications and software engineering leaders should use this research to navigate the CAI space and evaluate options based on current trends in use cases and vendors’ capabilities.

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Cloud-native platforms continue to evolve, combined with emerging technologies and trends such as GenAI and developer enablement. Product leaders must leverage the evolving cloud-native ecosystems to reinvent their offerings’ developer, platform engineer and operator experience.

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Survey data revealed that investments in conversational AI have increased due to generative AI enabling new capabilities. Product leaders must create capability roadmaps for incorporating GenAI in their offerings to establish competitive differentiation.

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The most impactful technologies for 2024 fall under these four themes: the smart world, the productivity revolution, privacy and transparency, and critical enablers. Product leaders can use this research to guide their investment and strategic planning around disruptive technologies.

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AI and generative AI are disrupting technology markets at an accelerated pace, enabling tech providers to succeed or fail in the next five years. Product leaders must evaluate benefits and risks for various AI technologies to gain competitive advantage and deliver business value.

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The implications of GenAI on CX herald needs for actionable, intelligent analytics and more immersive and multimodal engagement from providers. Product leaders in TSPs must exploit these emerging trends and technologies to improve CX, product adoption, engagement and retention.

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Product and service experiences are shifting toward a universe of multisensory interactions that increasingly leverage multimodal UIs and generative AI models. Product leaders must act now to prepare their teams for a near-future market where multimodal GenAI-driven interfaces are pervasive.

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The conversational AI market is growing and evolving at an unprecedented rate due to generative AI pushing CAI capabilities into new domains. Product leaders face new risks and opportunities and must consider the timing and impact of CAI emerging tech in advancing differentiation.

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The metaverse represents the most impactful and expansive combinatorial trend for the next decade. It is imperative that product leaders invest in technology precursors today to build the future metaverse.

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Advances in generative AI can speed up the creation of cutting-edge AI avatars and open up new use cases. Technology product leaders can capitalize on the unique innovations around AI avatars by prioritizing opportunities where generative AI can benefit existing products.

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The conversational AI market is projected to reach $377 billion in revenue by 2032, up from $66 billion in 2023, led by growth in advanced virtual assistants and IoT device integrations. CAI product leaders must continuously innovate to ensure differentiation in a rapidly evolving market.

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Emerging technologies such as generative AI and industry clouds are disrupting the dynamics of mature cloud computing markets and creating new opportunities. Product leaders must respond with a new generation of platforms with AI-augmented user experiences and composable architecture. Gartner subscribers can read the full report

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The device ecosystem for immersive experiences is reaching an inflection point, and preparedness is paramount to ensure relevance. Product leaders should forgo the inertia and urgently explore and adopt emerging tech to remain competitive and capitalize on market opportunities.

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The growing user base for smart devices, the metaverse and smart homes requisites the development of advanced HMI technologies and innovative solutions/use cases. This Impact Radar highlights 19 emerging technologies/solutions that product leaders must evaluate to future-proof their offerings.

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ChatGPT has made generative AI a top priority for the C-suite and has sparked tremendous innovation in new tools beyond foundation models. This inaugural GenAI Hype Cycle guides technology innovation leaders through these fast-moving technologies and markets.

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Generative AI will become pervasive in the next two to three years with the most impact around content generation and discovery, conversational AI and simulations. Product leaders should capitalize on GenAI’s primary areas of impact to advance their product and service differentiation.

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Generative AI adoption is concentrated in content creation (across text, data, code, videos and images, and sound) with many applications across industries. Product leaders must incorporate GenAI-enabled capabilities that add value to their product and use-case strategy to remain competitive.

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Enterprise conversational AI platforms build, orchestrate and maintain multiple chatbot use cases throughout their life cycle, within the enterprise and across business units. Application leaders can learn from ratings and reviews by their peers shared on Gartner Peer Insights.

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This Hype Cycle presents emerging and maturing technologies that are critical to the effective delivery of human services and social programs. Government CIOs can use this research to inform their decisions about the timing, risks and rate of adoption for technology...

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Generative AI will advance the capabilities of conversational AI and broader AI solutions over the next two years. Product leaders should leverage the combinatorial impact of GenAI to advance product capabilities, develop use cases and benefit from burgeoning business opportunities.

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AI, especially generative AI, headlines an increasingly crowded finance analytics landscape fraught with hype, opportunity and risk. This Hype Cycle helps FP&A leaders evaluate the value, risk and maturity of analytics innovations, invest appropriately, and optimize...

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Utility organizations face continuous disruption. To gain resilience and agility, lower risk and better capitalize opportunities, organizations are enabling intelligent operations. This Hype Cycle gives utility CIOs insights to effectively align technology investments...

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Technology innovations are empowering bank competitors, influencing customer demand for products and services, and shaping regulators’ actions globally. Bank CIOs can use this research to spotlight innovations shaping their industry and prioritize their technology...

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IT organizations are increasingly turning to IT management intelligence technology to improve IT operations, service management and cybersecurity. I&O leaders should leverage this Hype Cycle to assess the intelligent services, processes and technologies available to...

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Economic volatility and seismic shocks continue to impact insurers, causing a focus on digital optimization. Life and P&C insurance CIOs need to evaluate and prioritize technologies that harness their foundational IT investments to meet dual needs to optimize and transform.

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Innovation, intelligence and an improved experience are the themes underpinning enterprise software investments over the next three-year horizon. Enterprise software providers should use emerging technologies that are aligned with these themes to gain competitive advantage.

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Hype-fueled speculation around the metaverse threatens to sidetrack its potential to fundamentally transform how organizations do business. Product leaders must evaluate the impact of early metaverse building blocks vis-a-vis their own product roadmaps in order to gain competitive advantage.

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Capabilities of enterprise conversational AI platforms are evolving to offer more domain-specific modules, broader multilingual support and wider-ranging integration options. This research helps application leaders choose the offerings that fit their requirements.

Openstream.ai is included for it's ability to develop rich multimodal, context-aware conversational AI applications empowered by sophisticated NLU approaches.

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Openstream,ai recognized as the only visionary in the 2023 Gartner^® Magic Quadrant for Enterprise Conversational AI Platforms for the second consecutive year.

Intelligence, innovation and an improved experience are the key themes underpinning enterprise software investments. Enterprise software product leaders should develop product capabilities using emerging technologies and trends that are aligned with these themes to gain competitive advantage.

Openstream.ai is included for Multimodal UI

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In the next two years, advanced virtual assistants will differentiate via industry-domain-specific VAs, multimodality, and advanced knowledge and advisory capabilities. Technology product leaders can factor VA tech innovator advancements into future product development.

Openstream.ai is included for Multimodal UIs and Knowledge Graphs

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Forrester defines Conversational AI for customer service as software services that use Natural Language Processing (NLP) and Artificial Intelligence (AI) to provide automated assistance by simulating a two-way conversation via text (i.e., direct messaging) or speech (i.e., voice) for customer-facing service solutions. The report provides an overview of 30 vendors that provide conversational AI solutions. 

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This foundation report in Forrester’s series on conversational experience design examines this mismatch between companies’ chatbot optimism and the reality of low adoption, then explains the problem, how you can overcome it, and where to turn next.

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This report explains the two types of design expertise required (human-centered design and, more specifically, conversation design), three obstacles companies face, and how to tap people with the right skills. It then introduces the other reports in this series — about assessment, components, action, personality, and dialogue.

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This report explains the most important aspect of this assessment, which is to answer two questions, about stage and scope, so that you’ll know which of four possible scenarios your effort maps to (specification, inception, evolution, or dysfunction) and which approach to take in each scenario.

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This report lays out the five types of chatbots, ranging from multiple choice to hybrid, and their six core components, ranging from intents to integrations. It then explains how and when you can benefit from tapping the power of language AI and generative AI, as well as some key precautions to take in doing so.

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To create a successful chatbot, you need to make smart decisions about what actions it should be able to perform: the intents it supports. You then need to adapt that set of intents over time. This report explains how to do this and is part of our series on conversational experience design.

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To create a successful chatbot, you need to make smart decisions about its overall behavior, identity, and tone — the factors that convey its personality. This report explains how to do this and is part of our series on conversational experience design.

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To create a successful chatbot, you need to make smart decisions about how it will interact with users through ordinary language: the dialogue. This report explains how to do this and is part of our series on conversational experience design.

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