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Intelligent virtual assistant acts as the primary interface between digital data and customers. This software agent performs tasks based on the input provided and by accessing the information online on various sources. Intelligent virtual assistant technology incorporates the combination of a user interface, mobile device and mobile application. The ability to organize and maintain information is one of the key characteristic of intelligent virtual assistant. At present, most websites place burden on end users to find answers to their queries. If end users are not able to find relevant information, they usually abandon the search and contact live customer service representatives. Companies need cost effective ways to effectively and efficiently respond to customer needs. Hence, most companies are turning to interactive online channels such as intelligent virtual assistants and web chats.

Key factors driving the global intelligent virtual assistant market include increasing adoption in large enterprises in order to replace traditional methods of customer engagement and innovation in the field of speech recognition technology in smartphones. Further, small and medium enterprises are anticipated to embrace intelligent virtual assistants since the cost of these software is anticipated to reduce on account of increasing competition. Moreover, with rising popularity of speech recognition applications in smartphones, the intelligent virtual assistant market is expected to witness significantly high growth in the near future. Furthermore, expanding applications of intelligent virtual assistants across end-use sectors such as healthcare, e-commerce and banking offer potential opportunities for growth in near future. This is evident from the research and development activities carried out by key players such as Nuance Communication Corp. and Next IT Corp. among others.

Google and Microsoft offer digital assistants on smartphones, called Google Now and Cortana, respectively, which have deep knowledge of their users’ habits and schedules. Amazon sells a stand-alone device Alexa that, among other things, plays music, reads books aloud and can help buy items through Amazon. On September 8 Baidu, a Chinese internet giant, announced its own digital agent, Duer. And recently Facebook announced that a concierge service, called M, would be available through its messaging app.

According to research firm Gartner, about 38 per cent of American consumers have used virtual-assistant services on their smartphones recently; by the end of 2016 an estimated two-thirds of consumers in developed markets will use them daily.

HCL will be attending the SAP for Utility conference in Huntington Beach, CA. At the conference they will be introducing their new customer engagement platform, including a demo of noHold’s Virtual Assistant technology that integrates directly with HCL and SAP’s platform.