Frost Radar – What Are the Key Growth Drivers for Enterprise Conversational AI in Healthcare?
A benchmarking system to spark companies to action—innovation that fuels new deal flow and growth pipelines
Overview
The enterprise conversational AI in the healthcare industry will reach $2.34 billion by the end of 2027 at a CAGR of 17.2%. The ambient voice recognition space will continue to represent most of the industry share, while the industry for chatbots will increase at a fast pace. Generative AI (GenAI) is becoming a critical technology to enhance the capability of existing products. The conversational AI space has a unique mix of players.
The industry has established players that started using AI to improve their products/features, but it is also being flooded with native-AI companies that use the technology to address different challenges in the healthcare system. With the rapid influx of many solutions into the industry, it is challenging for start-ups to be noticed and gain traction because healthcare organizations are overwhelmed with business development outreach.
Organizations prefer solutions from familiar providers to ease the deployment and change management processes. Owing to this, the industry will see a rapid surge of merger and acquisition (M&A) activity, with bolt-on solutions being acquired by other digital health vendors that will either enhance the solution’s capability or integrate the solution into upstream or downstream applications.
- How can your team capitalize on the growing demand for chatbots in healthcare and strategically leverage conversational AI to accelerate growth by 2027?
- How can digital health vendors optimize M&A strategies to enhance their AI capabilities and pave the way for growth?
- How can companies in the healthcare AI sector maintain a competitive edge by staying ahead of emerging megatrends like ambient voice recognition and GenAI?
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