Did You Know?

The Intelligent Virtual

Agent Market is a thriving
battlefield with more than

1000
companies vying for their
share of the spotlight
 The present market size
transcends the boundaries,
soaring to an impressive
figure of approximately
USD 1.8 billion!
 But what is driving the
remarkable ascent of this
Intelligent Automation
technology?
 5
Important drivers You need
to know...
that are propelling its
growth to unprecedented
heights
 Availability of the Underlying
Technology
Google has often launched open-source
technologies like Word2Vec, Transformer architecture,
SyntaxNet, BERT etc.

Microsoft has its Power Virtual Agent platform that lets

you build IVAs

Open AI launched GPT on which new-age generative

AI tools are built today

1
 Pace Prompted by the
Pandemic

Enterprises have experienced a surge in customer

and employee queries for which they needed a
smart automated solution

During the pandemic, companies like Visionworks,

BNP Paribas, Hathway etc. utilized IVA
technology to handle upto 100% of their
customer care traffic

2
 The Need to Handle the Ever-
growing Dataverse

In 2021, the overall amount of data generated in the

world was estimated to be ~79 Zettabytes. Well,
manual handling of it was next to impossible.

IVAs adeptly handle nearly 70% of requests from

start to finish, efficiently managing vast volumes of
data across diverse departments such as HR, IT,
Marketing, Sales, and more.

3
 The Struggle of Retaining
Talent

IVAs act as digital employees ensuring quick

resolutions for complex requests, handling
repetitive customer and employee queries thus
helping your agents relax a bit and focus more on
strategical work!

4
 Laser Focus of Tech Giants on
Advanced AI etechnologies

Microsoft has invested USD 1 billion in Open AI, Google

recently introduced CALM , BARD based on LAMDA,
META too introduced RobERTa - an improvised model
on Google BERT; XLM-R - a cross lingual language
model. All these are empowering them to carve a
distinctive niche for themselves in the market

CALM-Confident Adaptive Language Modeling

LAMDA - Language Model for Dialogue Applications
RoBERTa- Robustly Optimized BERT Pre-training Approach
XLM-R - Cross Lingual Model- RoBERTa

5
Hope You enjoyed having such
learning shots!

If You did, you know what to do