Virtual agents 101

Virtual agents, powered by conversational AI technology, are becoming increasingly popular in contact centers across various industries. With an estimated worth of $73.05 billion by 2033, virtual agents ease the strain on both customers and employees during high call volumes. Customers are already warming up to interacting with these AI-driven bots for simple queries or shopping assistance. Virtual agents can handle tasks such as password resets, order tracking, and payment processing without human intervention. They also improve customer satisfaction ratings by providing 24/7 support and enabling live agents to focus on high-value interactions. Businesses that effectively implement AI virtual agents could see profitability surge by an average of 38% by 2035.