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- Conversational AI projected to hit $57B by 2032
Conversational AI projected to hit $57B by 2032
Ryan Howard
June 24, 2025
🔊 Soundcheck
Conversational AI projected to hit $57B by 2032.
Decagon secures $131M, hits $1.5B valuation.
SuperDial secures $15M to revolutionize insurance calls.
Think41's Voice AI platform goes open-source.
WellSaid launches affordable AI voice API and partner program.
🔥 Hot Mic
Big moves, deep dives, and standout stories.
The conversational AI market is growing fast, projected to expand from $15.0 billion in 2024 to $56.9 billion by 2032, according to new research by P&S Intelligence. That’s a compound annual growth rate (CAGR) of 18.5%—more than double the pace of many enterprise software categories.
This surge is driven by increasing adoption across sectors like e-commerce, banking, customer service, and healthcare. Conversational AI tools—including voice agents, chatbots, and virtual assistants—are playing larger roles in automating customer interactions, reducing support costs, and improving response times.
As infrastructure improves and companies race to differentiate through personalized user experience, demand for scalable, multimodal AI systems will only grow.
Key Points:
• Market size expected to reach $56.9B by 2032
• CAGR of 18.5% from 2024 to 2032
• Growth driven by use cases in support, sales, and automation
• Voice AI expected to be a major driver in enterprise adoption
Takeaway:
Conversational AI is no longer fringe—it’s foundational. As the category matures, voice agents are likely to be at the center of how businesses engage customers at scale.
Decagon, a leader in conversational AI agents, has raised $131 million in a Series C funding round, bringing its total funding to $231 million just a year after emerging from stealth. This round values the company at $1.5 billion and was co-led by Accel and Andreessen Horowitz, with participation from existing and new investors.
The company's unique approach, termed Agent Operating Procedures (AOPs), allows customer experience teams to design and adjust AI agent behavior in real time using natural language, while technical teams maintain control over the underlying code. This enables rapid deployment and continuous improvement of AI agents without relying on costly professional services.
Decagon's AI agents are utilized by prominent brands such as Hertz, Eventbrite, Duolingo, Oura, Bilt, and Notion to deliver intelligent, high-quality customer experiences at scale. The platform supports multiple channels, including chat, email, voice, and SMS, ensuring consistent and personalized interactions across all customer touchpoints.
Key Points:
• Decagon raised $131M in Series C funding, totaling $231M
• Company valuation now stands at $1.5 billion
• Funding co-led by Accel and Andreessen Horowitz
• Clients include Hertz, Eventbrite, and Duolingo
Takeaway:
Decagon's substantial funding and rapid growth highlight the increasing demand for AI-driven customer support solutions, positioning the company as a leader in transforming customer experience through innovative conversational AI agents.
SuperDial, a voice AI company, has raised $15 million in Series A funding to automate healthcare insurance calls. Founded by former Stanford classmates Sam Schwager and Harrison Caruthers, the company aims to help healthcare organizations reclaim time and revenue by replacing hours of insurer calls with AI agents.
The AI agents handle outbound calls to insurers, navigating phone trees, waiting on hold, and conducting live conversations. They support tasks like benefits verification, prior authorization, insurance claim follow-up, provider data validation, and credentialing. The system is HIPAA and SOC2 Type 2-compliant.
Since pivoting from billing to automating phone calls in late 2023, SuperDial has seen significant adoption. Billing teams using SuperDial have achieved up to 4x productivity gains, allowing them to process more claims daily without spending time on the phone with payers.
Key Points:
• SuperDial raised $15 million in Series A funding
• AI agents automate outbound calls to insurers
• Supports tasks like benefits verification and prior authorization
• Billing teams report up to 4x productivity gains
Takeaway:
SuperDial's $15 million funding underscores the growing role of AI in streamlining healthcare operations, particularly in automating time-consuming insurance calls, leading to significant productivity gains for billing teams.
Think41, a Generative AI services company, has publicly released its open-source Conversational AI (CAI) platform, designed for scalability, speed, and realism. This platform has been tested in high-stakes enterprise environments and is now accessible to developers and businesses worldwide.
The platform addresses common challenges in voice AI adoption, such as security, compliance, workflow integration, and latency. It offers features like SIP calling, live escalation, CRM synchronization, voice-text multimodality, and advanced security frameworks, deployable via cloud or on-premises.
Built with an Agent SDK and orchestrator-led architecture, the platform supports modular, scalable AI systems composed of specialized sub-agents. Parallel guardrail agents provide real-time oversight to mitigate risks like hallucinations, ensuring transparent and controllable outcomes.
Key Points:
• Think41's CAI platform is now open-source
• Platform features include SIP calling and CRM sync
• Agent SDK enables modular, scalable AI systems
• Experience Center showcases real-time voice AI
Takeaway:
By open-sourcing its enterprise-grade Conversational AI platform, Think41 empowers developers and businesses to build and deploy scalable, secure, and realistic voice AI solutions, accelerating innovation and adoption in the field.
WellSaid has unveiled a significant upgrade to its developer API, offering ultra-realistic AI voices with enhanced programmatic control at a reduced cost. This move aims to make high-quality synthesized voices more accessible for various commercial uses.
The new API provides developers with fine-tuned control over voice attributes such as pitch, speed, and tone, supporting applications like IVR systems, virtual assistants, and audiobooks. Additionally, it includes commercial rights and compliance with standards like SOC 2 and GDPR.
Alongside the API, WellSaid introduced a Partner Program designed to help organizations integrate AI voice into their products. The program offers benefits like preferred pricing, co-marketing opportunities, early access to new features, and dedicated support.
Key Points:
• WellSaid's new API offers ultra-realistic AI voices with enhanced control
• The API is priced up to 50% lower than other providers
• The Partner Program provides preferred pricing and co-marketing opportunities
• Early partners include MNTN and TRIPP
Takeaway:
WellSaid's latest offerings make high-quality AI voice technology more accessible and affordable, enabling developers and businesses to integrate advanced voice capabilities into their products efficiently.
🎙️ Mic Drop
What else is making noise in voice AI.
Careington rolls out Cognigy’s Voice AI to improve customer support efficiency for insurance operations. (prnewswire.com)
Onlin.in unveils AnantAI, a patent-pending multilingual agentic voice commerce platform for the Indian market. (mid-day.com)
KPN and ElevenLabs partner to deliver advanced AI voice tech to Dutch telecom customers and businesses. (telecomtv.com)
ElevenLabs targets India’s fast-growing voice internet, aiming for leadership in regional and creative voice AI applications. (entrepreneur.com)
Benetics introduces a specialized AI voice assistant for jobsite tasks, targeting the U.S. construction industry. (dbusiness.com)
Upcoming webinar explores successful AI agent deployments for customer support with industry experts and real-world guidance. (opusresearch.net)
nVoq plans launch of ambient voice assistant for streamlining clinical documentation in home-based care by late 2025. (morningstar.com)
Target Dial emerges as a leader in AI voice automation for Canadian businesses, focusing on scalable engagement solutions. (martechcube.com)
LocaliQ releases next-gen conversational voice AI agent, designed to convert leads and handle prospect calls efficiently. (businesswire.com)
LocaliQ unveils a voice AI agent that helps businesses recapture value from missed sales calls. (investing.com)
Twilio integrates conversational AI, boosting customer engagement with new OpenAI-powered solutions. (tradingview.com)