Emerging AI Chatbot Vendors Report, Q3 2023: Discover The 10 AI Features For Chatbot Vendor Assessment

The rapid emergence of generative AI and ChatGPT has intensified the need for enterprise business leaders to adopt AI-powered chatbots. These chatbots have the potential to enhance customer satisfaction, boost productivity, and drive sales growth.

This report aims to provide valuable insights into the evolving landscape of AI chatbot vendors, including their product trends and capabilities. The publisher delves into the offerings of ten selected vendors - Cognigy, Gupshup, Hyro, Kore.ai, Laiye, PolyAI, Sobot, Spitch, Voiceflow, and Yellow.ai and evaluate them. By conducting interviews and product trials, the publisher showcases the emerging AI capabilities and advantages they can offer to enterprises as measured by how each vendor scored against a 10-point AI feature criteria.

When there is a reference to emerging vendors, the publisher specifically means companies that have secured venture funding within the past two years. As outlined in the appendix's methodology overview, these vendors typically offer promising capabilities that can potentially accelerate enterprises’ unique business objectives.

In addition to the emphasis on emerging vendors, reports stand out by focusing exclusively on the products offered by these vendors. The publisher highlights the strengths of their offerings and outlines the benefits they bring to enterprise users. Whether you are in customer service, HR, IT, sales, or marketing, this report should serve as a valuable resource to understand the AI capabilities available through emerging chatbot vendors, assess the relative strengths of the ten vendors profiled, and identify the most suitable options based on your specific requirements

Market Overview

The publisher defines AI chatbot vendors as companies that provide an interface for non-technical enterprise users to build and deploy AI chatbots using no code or low code. These vendors typically offer a drag-and-drop visual builder to design conversation flows, and an integration feature to deploy the chatbot across different channels and integrate it with various third-party tools. For its AI functionality, these vendors usually provide a natural language understanding* (NLU) engine that allows the user to define intents*, utterances*, and entities*, and a generative AI* feature that enables the chatbot to generate dynamic content.

Unlike rule-based chatbots that deliver their responses based on the detection of keywords, AI chatbots utilize NLU to comprehend the meaning of customer inputs and generative AI to create contextual responses in real-time.

Generative AI is used by AI chatbot vendors in various creative tasks such as composing responses to customer inputs, summarizing information from documents, and even generating chatbot training data like utterances and entities.

It refers to a specific form of artificial intelligence that can generate content such as texts, images, videos, and programming code. Generative AI’s creative capabilities derive from their usage of large language models* (LLMs) trained on extensive datasets. These models enable the generation of new content by predicting the most likely next token* based on the preceding tokens, using the statistical probability of token sequences learned from vast amounts of data.

To provide a comprehensive overview of the direction of this market and capabilities coming to the enterprise, the publisher focuses on emerging vendors that have recently raised capital.