Conversational AI has revolutionized interactions between businesses, individuals, and technologies, enhancing customer experiences, driving customer acquisition, and establishing market differentiation. In recent years, especially with the advent of generative AI and Large Language Models (LLMs), conversational AI providers are addressing the increasing demand for more sophisticated chatbot capabilities by introducing new features and enhancing existing offerings to deliver comprehensive and accessible solutions for diverse use cases. Providers are also ensuring enterprise data protection, transparency, and explainability to maximize conversational AI solutions’ benefits.

In this report, we assess 25 conversational AI technology providers featured on the Conversational AI Products PEAK Matrix^® and categorize them as Leaders, Major Contenders, and Aspirants based on their capabilities and market offerings. We also identify Star Performers, which have made significant progress from the previous year. The research will help buyers select right-fit technology providers and enable providers to benchmark themselves against the competition.

Scope

• All industries and geographies
• This assessment is based on Everest Group’s annual RFI process through December 2023, interactions with leading conversational AI technology providers, client reference checks, and ongoing analysis of the conversational AI market

Contents

This report covers:

• Everest Group’s PEAK Matrix^® evaluation assessing 25 conversational AI technology providers
• The conversational AI technology provider market’s competitive landscape
• Remarks on the featured providers’ key strengths and limitations

Membership(s)

Customer Experience Management (CXM) Services, including Contact Center Outsourcing

Service Optimization Technologies (SOT)

Sourcing and Vendor Management