Artificial Intelligence in Chatbot Security Market

Analysis of Artificial Intelligence in
Chatbot Security Market - Global
Industry Insights and Forecast till 2025
Increasing utilization and dependency on the internet is expected to increase the risk of
cyber-attacks. Artificial intelligence can be used to prevent security issues by providing
user authentication in smart phones. Artificial intelligence-based security solutions is a
combination of machine learning technology and biometrics, with the capability to
identify user behaviour to improve usability and self-service ability. A smart phone
integrated with artificial intelligence can capture the pattern of walk, application of
pressure to the screen, scroll, and type, without the need for passwords.
Proliferation of smart phones and other connected devices is the major factor
driving growth of the market
Rising adoption of smart devices, including smart phones, is expected to drive growth of
the global artificial intelligence market in chatbot security market during the forecast
period. Growing adoption of smart phones is increasing the scope for mobile
advertising, including SMS & MMS advertising, mobile web, mobile video & television,
and several online advertising channels; dependency on social networking sites is
increasing; and the requirement for on-demand services such as videos, online
messaging applications, video chat, and voice calls, at anytime and anywhere is also
rising. These are powerful tools for effective real-time communication. For instance,
according to Coherent Market Insights’ analysis, as of 2017, 19% of organizations
including retail and financial had deployed AI Chatbot. For instance, NanoRep is an AI
based Chabot application that is used for understanding customer issues by monitoring
voices of the customer and after applying the analytics it provides valuable solution to
the customers.
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A chatbot is a software that incorporates artificial intelligence (AI), in order to process
the interactions between humans and virtual assistants. The AI integrated with chatbot
increases security and people sending the message over the chatbot aid these in
becoming more intuitive, more natural, and comfortable while chatting. Hence, AI
increase the security level of data, which proportionally minimizes the threat of cyber
threats. Therefore, these features will be one of the factors that helps in propelling
growth of the market. Furthermore, Chabot integrated with the devices such as mobile
devices, web browsers, and others application helps in reducing the customer effort,
improve organizations analytical capabilities, and enables automation by customizing
voice and text. These features are factors for increasing adoption of AI based chatbot in
organizations.
Global Artificial Intelligence in Chatbot Security Market: Regional Insights
North America held a dominant position in the global artificial intelligence market in
chatbot security in 2016, and is expected to retain its dominance throughout the
forecast period. This growth is attributed to rising cyber-attacks in this region. U.S.
accounted for the major market share in the region, owing to increasing cyber-attacks
on industries such as healthcare, banking and financial, and retail and manufacturing.
For instance, according to the Internet Crime Complaint Center (IC3), in 2016,
cybercrimes were valued at over US$1.33 billion globally, in which, California witnessed
the highest recorded loss with over US$ 255 million. Additionally, in 2016, around 28%
of web application attacks were recorded in the U.S., followed by the Netherlands and
Germany.
The market in Asia Pacific is estimated to exhibit the highest CAGR over the forecast
period. This is attributed to rising adoption of machine learning and natural language
processing technologies as well as increasing number of 5G pilot projects in the region.
These features of AI integrated Chabot deliver more accurate result to the users.
Therefore, adoption of AI based Chabot is expected to increase in various verticals in
order to improve accuracy of the system, which has fuelled growth of the market. For
instance, China Telecom Corporation Ltd. established a new 5G base station in
Lanzhou on December 2017, to expand 5G pilot projects in China. This in turn, is
expected to boost growth of the artificial intelligence market in chatbot security over the
forecast period.
Global Artificial Intelligence in Chatbot Security Market: Competitive Background
Major players operating in the artificial intelligence in chatbot security market are Maruti
Techlabs, Inbenta Technologies, Inc., Nuance Communications, Inc., Next IT
Corporation, Kore.ai, Inc., CreativeVirtual, Pypestream, Nano Rep, Inc., Mindmeld, Inc.
and Ubisend.
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Artificial Intelligence in Chatbot Security Market report categorizes global market by offering (Hardware, Software and Services), by deployment model, by security type, by solutions, by technology and by vertical.

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