Global chatbot market tipped to reach $3.17b by 2021
The global chatbot or smart advisor market is on track to grow from $703.3 million last year to $3.17 billion by 2021, representing a CAGR of 35.2%, ReportsnReports has estimated. A study by the company found that growth is being driven by the strong need for companies to understand consumer behavior, as well as growing adoption of cloud technology and intelligent customer engagement solutions. Asia-Pacific is expected to lead the world by adoption. The websites segment will lead the market by usage throughout the forecast period, but the mobile platform segment is expected to grow at the highest CAGR due to growing smartphone and BYOD adoption.
SoftBank Vision Fund raises over $93b in first major close
The Softbank Vision Fund has raised over $93 billion in capital in its first major close. Major investors in the first close include SoftBank Group, the Public Investment Fund of the Kingdom of Saudi Arabia, Apple, Foxconn, Qualcomm and Sharp. The fund is targeting a total of $100 billion in committed capital and expects to reach a final close within six months. SoftBank CEO Masayoshi Son said the fund will be used to make large-scale long-term investments aimed at supporting the next stage of the information revolution. It will acquire minority and majority stakes in businesses of all sizes working across a range of technology sectors including the IoT, AI, robotics, mobile applications and computing, next-generation communications infrastructure and cloud technologies.
IBM to provide iPad apps for Singapore Airlines pilots
IBM has secured a contract to provide MobileFirst for iOS apps for the Singapore Airlines Group. The company will provide the Fly Now and Roster for iPad apps to help equip pilots on Singapore Airlines flights with relevant information and flight-related updates. The airline will be able to digitize previously manual processes, enhancing pilot productivity by expediting mandatory pre-flight to post-flight operations. Fly Now provides a single real-time hub for flight-related information including flight plans, information on specific aircraft and access to technical reports. Roster will meanwhile give pilots a 60-day view of flights assigned and provide alert-based tracking of the status of visas, passports and flying certifications.
NTT Com powering LINE-based AI chatbot for SMFG
NTT Communications and Accenture Japan have helped develop a LINE-based AI chatbot for the Sumitomo Mitsui Financial Group (SMFG). The SMBC Nikko Securities Contact Center will launch the new chatbot on Thursday. It will be capable of understanding customer input on LINE Talk and automatically providing an appropriate response, including guidance on ways to open accounts and guidance for participation in IPOs. In the future, the chatbot will be used to provide customer support after hours and during holidays, and to cover more topics such as share price inquiries. The services uses an NTT Com AI engine known as COTOHA, which is capable of mimicking human dialog for an enhanced customer experience.