Speaking with machines was the real fantasy for techies. You can recall several instances like Skynet from Terminator and Jarvis from Iron Man, where this concept was unveiled for masses. Since then, Apple and Google strived really hard to make this technology consumable for all users. Being market leader in Technology domain; integration of AI was natural progression for these companies. At present AI based Virtual Assistants are empowered with technologies like Machine Learning, Natural Language Processing and Context Awareness. Out of which Machine Learning and Natural Language Processing contributes ~70%. From non-hardware side, these technologies are investment magnets. Owing to futuristic use cases and larger TAM; investments related to AI based Virtual Assistants are expected to increase by 2.7 times (as compare to 2019) by the end of 2023.

We are pretty much aware about use cases of AI enabled Virtual Assistance for Alexa and Google Now; but there are several cognitive assistance platforms present in the market, which are technological extension of AI based Virtual Assistants. However, there are many new applications which are getting targeted by these assistants. From platform conjunctions (Alexa to Zomato) to marketing tool, AI enabled Virtual Assistants are finding new applications very aggressively. There are around 98 tasks which AI enabled Virtual Assistants can perform and naturally this is directly proportional to revenue opportunities and growth rate.

Smartphones, Wearables, Workstations, and Standalone Virtual Assistance Devices are user interfacing devices for this technology. The ecosystem of AI enabled Virtual Assistants has mainly 5 supply side tiers.

FABRIC has analysed AI enabled Virtual Assistance ecosystem and offer 7! cross segments. Avira’s market intelligence platform FABRIC has synchronized 235 high importance market activities using Machine Learning and Data Science Algorithms. We would love to exchange our methodology, datasets, and observations on the quick demo of FABRIC.

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