Funding of chatbot/conversational AI startups worldwide 2023

As of December 2023, the company ASAPP was the most funded chatbot/ conversational AI worldwide, with around 380 million U.S. dollars. By contrast, the next company operating in the same field had a little over 300 million U.S. dollars.

What are AI chatbots?

A chatbot, also known as a conversational bot, is an AI software that simulates human conversation via audio or text on the internet. They are designed to answer basic questions, recommend products, and provide customer support so that organizations and companies can save manpower, money, and time. Recent developments have produced more advanced chatbots that utilize deep learning algorithms to produce answers to complex problems and questions. There are different types of chatbots, such as menu-based, keyword-based, social messaging, and voice bots. Popular chatbots are Netomi, atSpoke, and the new ChatGPT, which was launched in November 2022.

Artificial Intelligence

Artificial intelligence (AI) is the ability of a computer or machine to mimic human competencies, learning from previous experiences to understand and respond to language, decisions, and problems. A growing number of companies and startups are engaging in the artificial intelligence market, which is expected to grow rapidly in the near future. Popular tech companies involved in the industry are IBM, Microsoft, and Tencent, which owns the highest number of AI and ML patent families.