The use of voice assistants among US adults is growing as both consumers and companies find more use cases for conversational AI technologies.

Tripadvisor used conversational AI technology for a campaign executed on voice assistants like Alexa and Google Assistant with the goal of maintaining engagement during the pandemic, according to Adam Ochman, global head of marketing at Tripadvisor.

Conversational AI is becoming more integrated into consumers’ lives every year, as tech like retail bots and virtual agents continue to improve the customer experience.

Our most recent forecast shows that conversational AI adoption is growing. In 2021, 64.2% of US adults between the ages of 25–34 used a voice assistant. Overall, 46.9% of US adults will use a voice assistant in 2022, 48.2% by 2025. Conversational AI is on track to become a mainstream technology in practically every vertical.

Walmart tries SMS shopping again, this time backed by AI and customer data: It will use the same conversational commerce tech that helped make its voice-assisted shopping successful.

AI investments can improve customer experience. Here’s what companies are—and should—be doing to stay ahead.

Report: Conversational AI Use Expands. Article: A case study of AI implementation in CX from Tripadvisor. Article: Amazon’s Amp builds on—and deviates from—the Clubhouse playbook.

In another example, Amwell made a $100 million deal with Google Cloud to integrate more machine learning-powered tools, like conversational AI in virtual waiting rooms, into Amwell’s suite of telehealth services.

Report: Conversational AI Use Expands. Article: ConsenSys bags $450M in megaround as investors flock to back blockchain. Article: Bain Capital Ventures launches $560M fund as investment in crypto space soars.

But there’s evidence voice assistants and conversational AI could work in preventing chronic conditions like diabetes and hypertension. A study published in August 2021 by Lark Health, a digital therapeutics platform, measured patients’ engagement with its personalized, fully digital programs to prevent or monitor diabetes and hypertension.

Microsoft’s biggest healthcare move in 2021 was its April $19.7 billion acquisition of AI voice assistant company Nuance Communications. For context, Nuance is a leader in the healthcare voice recognition space. Its solutions leverage conversational AI and natural language processing to accurately automate clinical documentation.

The platform utilizes conversational AI to engage with patients every one to four days. Through integrated RPM devices and other tools that gather patient vital signs and biometrics, it can determine whether a patient will require further care. Reducing hospitalizations through preventive care. Trinity Health leverages Vivify Health’s connected care platform for its RPM program.

A conversational AI assistant reduces the strain on full-time customer service employees. This feature saw low demand, with a mere 5.1% of respondents rating it as “extremely valuable.”. Methodology. What is this study, and which FIs are included?

It was the category’s least valued feature, likely due to the limited functionality and poor user experience of many FIs’ conversational AI assistants. Segment Analysis. A virtual assistant that integrates many support options can be a customer service solution for digitally demanding younger consumers.

Least in demand was the option to chat with a conversational AI assistant. To see the full list of features, visit the Appendix. In the following sections, we detail how much value survey respondents placed on the features in each category, which neobanks offered the features, and what each neobank scored, as well as takeaways from the demographic data in the survey. Security and Control.

The percentages ranged from 56.4% for the most valued feature (setting alerts for unusual account activity), to 5.1% for the least valued (chatting with a conversational AI assistant). In the following sections, we detail how much value survey respondents placed on the features in each category, which FIs offered the features, what each FI scored, and takeaways from the demographic data in the survey.

The features in the study were weighted based on the percentage of survey respondents who rated each feature “extremely valuable”—ranging from 34.5% for the most in-demand feature, “set up CRA direct deposit,” to 5.1% for the least in-demand, “converse with a conversational AI assistant.”.

Conversing with a chatbot over SMS can make conversational banking possible outside the app, but demand is low. Only 10.4% of respondents view the ability to chat with a conversational AI assistant over text message as "extremely valuable," and no neobanks support the capability. Incumbent banks offer low support as well: Just 10.4% of surveyed FIs provide it.

Conversing with a chatbot over SMS can make conversational banking possible outside the app, but demand is low. Only 10% of respondents view the ability to chat with a conversational AI assistant over text messages as "extremely valuable," and just 8% of surveyed FIs provide it. As FIs enrich their mobile apps and gain greater adoption, this level of flexibility will become less necessary.

Incumbent insurers have accelerated their use of mature AI deployments in the past year to meet changing customer expectations and better compete with insurtechs. They’ll now need to infuse the tech across their business segments to unlock the full potential—including enhanced personalization, cost cutting, and stronger risk management—of AI-driven digital transformation.