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2017 Intelligent Virtual Agent Product and Market Report

2017 Intelligent Virtual Agent Product and Market Report

The inaugural edition of DMG Consulting’s Intelligent Virtual Agent Product and Market Report covers all aspects of this emerging IT sector. These “smart” applications represent the future of self-service. For the first time in over two decades, enterprises have innovative and effective options for building and enhancing self-service environments.

In the Vanguard with Coverage of Emerging Markets

The market is ready for IVAs. These solutions, also known as “bots,” “chatbots,” “virtual assistants,” “virtual agents,” and a wide variety of other synonyms, use artificial intelligence (AI), machine learning and other technologies to build advanced speech and digital-enabled self-service solutions that are cost effective and appealing to customers, who actually prefer to help themselves in this channel, as long as it works. Designed to emulate human conversations and interactions, IVAs can provide assistance for many activities that previously required the attention of live agents, including customer service, help desk, product information, marketing, sales, placing orders and reservations, and more.

The new AI-based solutions address a wide variety of enterprise and contact center needs. And what we are seeing today is just the beginning, as companies are investing billions of dollars in these solutions. Next-gen IVAs with more self-learning capabilities are on the horizon. In the future, IVAs will use an increasing amount of self-learning technology that allows them to get “smarter” over time and adapt to customers’ individual preferences as they “learn” from past interactions to improve their understanding of what customers want and need.

2017 Intelligent Virtual Agent Product and Market Report Examines this Emerging IT Sector

The 2017 Intelligent Virtual Agent Product and Market Report is the only in-depth analysis of these emerging solutions. It provides a timely and thorough analysis of the overall market and 7 innovative vendors who offer a broad range of solutions that address customer service, contact centers and other enterprise uses. The 6 vendors covered in detail in this Report are: [24]7, Astute Solutions, Creative Virtual, Interactions, Next IT and SmartAction. Artificial Solutions is covered at a higher level.

Key Elements of this Report

  • Definition of IVAs: what they are, how they work, and an examination of the functional components that comprise these solutions
  • Service deployment options for IVA solutions
  • Evolution of self-service, from interactive voice response (IVR) to IVA and beyond
  • The state of AI: what’s real and what to expect in the future
  • Review of the market trends and challenges that are driving investments
  • Discussion of IVA market innovation, including what is planned to be delivered in the next 12 – 18 months
  • Insights into the current uses, benefits and verticalized applications of IVAs for contact centers and enterprises
  • Examination of the role of IVAs in delivering a personalized and effortless self-service experience to enhance the customer journey
  • A look at how IVAs are improving the agent experience with real-time guidance, next-best-action recommendations and self-service functions to help agents manage their work/life balance
  • Review and assessment of the IVA competitive landscape
  • IVA 5-year market growth projections
  • Overview of the 7 leading and contending IVA vendors, including company snapshots, go-to-market strategies and product offerings
  • High-level technical analysis, including accuracy/tuning and integration features
  • High-level functional summary, including administration, security and compliance, and reporting, dashboards and analytics
  • Best practices for transitioning to an IVA solution
  • Implementation analysis, including vendor methodology, best practices, training and professional services, and maintenance and support
  • Return on investment (ROI) analysis
  • Vendor pricing models for on-premise, cloud-based and managed service IVA solutions
  • Detailed company reports for the 7 IVA vendors, analyzing their products, functionality and future product development plans
  • IVA Glossary of Terms
  • Comprehensive IVA Vendor Directory

Table of Contents

    1. Executive Summary
    2. Introduction
    3. DMG Consulting Research Methodology
      3.1 Report Participation Criteria
    4. What are Intelligent Virtual Agents?
      4.1 DMG Definition of IVAs
      4.2 Vendor Definitions
    5. Service Delivery Models
      5.1 DMG Service Delivery Definitions
      5.2 Vendor Service Delivery Options
    6. The Self-Service Revolution
      6.1 From IVR to IVA
      6.2 From Knowledge Management to IVA
      6.3 Stand-Alone IVA Solutions
      6.4 What’s Next
    7. AI: What’s Real and What’s Not
    8. 2017 Intelligent Virtual Agent Trends and Challenges
      8.1 Intelligent Virtual Agent Trends for 2017
      8.2 IVA Challenges for 2017
    9. IVA Market Innovation
      9.1 New Product Features
      9.2 Emerging Capabilities
    10. IVAs at Your Service
      10.1 Verticalized Applications
    11. Digital Concierges Enhance the Customer Journey
    12. Virtual Assistance: Improving the Agent Experience
    13. IVA Competitive Landscape
      13.1 Technology Sectors Delivering IVA Solutions
      13.2 IVA Vendor Executive Summaries
    14. IVA Market Projections
    15. IVA Vendors and Solutions
      15.1 Company Snapshots
      15.2 IVA Go-To-Market Strategy
      15.3 Vendor Offerings and Products
    16. High-Level Technical Summary
      16.1 Accuracy/Tuning
      16.2 Integration
    17. High-Level Functional Summary
      17.1 Administration
      17.2 Security and Compliance
      17.3 Dashboards, Reporting and Analytics
    18. IVA Best Practices
    19. Implementation Analysis
      19.1 Implementation Process
      19.2 Implementation Best Practices
      19.3 Training and Professional Services
      19.4 Maintenance and Support
    20. Pricing
    21. Pricing
      21.1 Premise-Based
      21.2 Cloud-Based
      21.3 Managed Service
    22. Company Reports
      22.1 [24]7, Inc
      22.2 Artificial Solutions
      22.3 Astute Solutions
      22.4 Creative Virtual Ltd.
      22.5 Interactions LLC
      22.6 Next IT
      22.7 SmartAction

Table of Figures

Figure 1: Bots vs. IVAs
Figure 2: Vendor IVA Definitions
Figure 3: Service Delivery Models, Advantages and Disadvantages
Figure 4: DMG’s Service Delivery Model Definitions
Figure 5: IVA Vendor Service Delivery Options
Figure 6: Self-Service Channels
Figure 7: 2017 IVA Trends
Figure 8: 2017 IVA Challenges
Figure 9: New Product Features, by Vendor
Figure 10: New Product Features, by Category
Figure 11: Future Application Enhancements
Figure 12: How likely are you to use a self-service virtual bot/virtual
intelligent agent, to ask a question?
Figure 13: Bot and IVA Use Cases
Figure 14: Primary Use of IVA Solution, By Vendor
Figure 15: Verticalized IVA Applications
Figure 16: Customer Experience and Journey
Figure 17: Agent Experience
Figure 18: IVA Competitive Landscape
Figure 19: DMG’s IVA Revenue Projections, 2017 – 2021
Figure 20: Company Information as of April 2017
Figure 21: IVA Go-To-Market Strategy
Figure 22: Product Information
Figure 23: High-Level Technical Summary
Figure 24: Accuracy/Tuning
Figure 25: Integration
Figure 26: High-Level Functional Summary
Figure 27: Administration
Figure 28: Security and Compliance
Figure 29: Dashboards, Reporting and Analytics
Figure 30: Implementation Process
Figure 31: Implementation Best Practices
Figure 32: Training and Professional Services
Figure 33: Maintenance and On-Going Support
Figure 34: Benefits of IVAs
Figure 35: Return on Investment
Figure 36: Pricing for a Premise-Based IVA Solution
Figure 37: Pricing for a Cloud-Based IVA Solution
Figure 38: Pricing for a Managed Service IVA Solution

+ Report Includes

Key Elements of this Report

  • Definition of IVAs: what they are, how they work, and an examination of the functional components that comprise these solutions
  • Service deployment options for IVA solutions
  • Evolution of self-service, from interactive voice response (IVR) to IVA and beyond
  • The state of AI: what’s real and what to expect in the future
  • Review of the market trends and challenges that are driving investments
  • Discussion of IVA market innovation, including what is planned to be delivered in the next 12 – 18 months
  • Insights into the current uses, benefits and verticalized applications of IVAs for contact centers and enterprises
  • Examination of the role of IVAs in delivering a personalized and effortless self-service experience to enhance the customer journey
  • A look at how IVAs are improving the agent experience with real-time guidance, next-best-action recommendations and self-service functions to help agents manage their work/life balance
  • Review and assessment of the IVA competitive landscape
  • IVA 5-year market growth projections
  • Overview of the 7 leading and contending IVA vendors, including company snapshots, go-to-market strategies and product offerings
  • High-level technical analysis, including accuracy/tuning and integration features
  • High-level functional summary, including administration, security and compliance, and reporting, dashboards and analytics
  • Best practices for transitioning to an IVA solution
  • Implementation analysis, including vendor methodology, best practices, training and professional services, and maintenance and support
  • Return on investment (ROI) analysis
  • Vendor pricing models for on-premise, cloud-based and managed service IVA solutions
  • Detailed company reports for the 7 IVA vendors, analyzing their products, functionality and future product development plans
  • IVA Glossary of Terms
  • Comprehensive IVA Vendor Directory
+ Table of Contents

Table of Contents

    1. Executive Summary
    2. Introduction
    3. DMG Consulting Research Methodology
      3.1 Report Participation Criteria
    4. What are Intelligent Virtual Agents?
      4.1 DMG Definition of IVAs
      4.2 Vendor Definitions
    5. Service Delivery Models
      5.1 DMG Service Delivery Definitions
      5.2 Vendor Service Delivery Options
    6. The Self-Service Revolution
      6.1 From IVR to IVA
      6.2 From Knowledge Management to IVA
      6.3 Stand-Alone IVA Solutions
      6.4 What’s Next
    7. AI: What’s Real and What’s Not
    8. 2017 Intelligent Virtual Agent Trends and Challenges
      8.1 Intelligent Virtual Agent Trends for 2017
      8.2 IVA Challenges for 2017
    9. IVA Market Innovation
      9.1 New Product Features
      9.2 Emerging Capabilities
    10. IVAs at Your Service
      10.1 Verticalized Applications
    11. Digital Concierges Enhance the Customer Journey
    12. Virtual Assistance: Improving the Agent Experience
    13. IVA Competitive Landscape
      13.1 Technology Sectors Delivering IVA Solutions
      13.2 IVA Vendor Executive Summaries
    14. IVA Market Projections
    15. IVA Vendors and Solutions
      15.1 Company Snapshots
      15.2 IVA Go-To-Market Strategy
      15.3 Vendor Offerings and Products
    16. High-Level Technical Summary
      16.1 Accuracy/Tuning
      16.2 Integration
    17. High-Level Functional Summary
      17.1 Administration
      17.2 Security and Compliance
      17.3 Dashboards, Reporting and Analytics
    18. IVA Best Practices
    19. Implementation Analysis
      19.1 Implementation Process
      19.2 Implementation Best Practices
      19.3 Training and Professional Services
      19.4 Maintenance and Support
    20. Pricing
    21. Pricing
      21.1 Premise-Based
      21.2 Cloud-Based
      21.3 Managed Service
    22. Company Reports
      22.1 [24]7, Inc
      22.2 Artificial Solutions
      22.3 Astute Solutions
      22.4 Creative Virtual Ltd.
      22.5 Interactions LLC
      22.6 Next IT
      22.7 SmartAction

Table of Figures

Figure 1: Bots vs. IVAs
Figure 2: Vendor IVA Definitions
Figure 3: Service Delivery Models, Advantages and Disadvantages
Figure 4: DMG’s Service Delivery Model Definitions
Figure 5: IVA Vendor Service Delivery Options
Figure 6: Self-Service Channels
Figure 7: 2017 IVA Trends
Figure 8: 2017 IVA Challenges
Figure 9: New Product Features, by Vendor
Figure 10: New Product Features, by Category
Figure 11: Future Application Enhancements
Figure 12: How likely are you to use a self-service virtual bot/virtual
intelligent agent, to ask a question?
Figure 13: Bot and IVA Use Cases
Figure 14: Primary Use of IVA Solution, By Vendor
Figure 15: Verticalized IVA Applications
Figure 16: Customer Experience and Journey
Figure 17: Agent Experience
Figure 18: IVA Competitive Landscape
Figure 19: DMG’s IVA Revenue Projections, 2017 – 2021
Figure 20: Company Information as of April 2017
Figure 21: IVA Go-To-Market Strategy
Figure 22: Product Information
Figure 23: High-Level Technical Summary
Figure 24: Accuracy/Tuning
Figure 25: Integration
Figure 26: High-Level Functional Summary
Figure 27: Administration
Figure 28: Security and Compliance
Figure 29: Dashboards, Reporting and Analytics
Figure 30: Implementation Process
Figure 31: Implementation Best Practices
Figure 32: Training and Professional Services
Figure 33: Maintenance and On-Going Support
Figure 34: Benefits of IVAs
Figure 35: Return on Investment
Figure 36: Pricing for a Premise-Based IVA Solution
Figure 37: Pricing for a Cloud-Based IVA Solution
Figure 38: Pricing for a Managed Service IVA Solution

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