According to Autonomous Research, AI and machine learning can replace over $1 trillion of the current financial services cost structure, while a recent survey by Cognizant revealed that 74% of financial services executives believe that AI is extremely important to the future success of their companies.

E-commerce companies have been at the forefront of leveraging the power of Conversational AI. Of the many functions virtual assistants help to automate, one of the major use cases is Sales. The advancements in Natural Language Processing (NLP) and Natural Language Understanding (NLU) have spearheaded the development of Virtual Assistants for Sales Automation. 

When customers go to a brick-and-mortar store or super-market, they rarely just abandon their shopping carts after filling them up and walk away. But in the online world, cart abandonment is a very common behavior. How common? Well, according to the Baymard Institute, cart abandonment rates are, on average, as high as 70%!