As part of a dialog session between a user and an automated assistant, implementations can process, using a streaming ASR model, a stream of audio data to generate ASR output, process, using an NLU model, the ASR output to generate NLU output, and generate, based on the NLU output, a stream of fulfillment data. Further, implementations can further determine, based on processing the stream of audio data, audio-based characteristics associated with spoken utterance(s) captured in the stream of audio data. Based on a current state of the stream of NLU output, the stream of fulfillment data, and the audio-based characteristics, implementations can determine whether a next interaction state to be implemented is: (i) causing fulfillment output to be implemented; (ii) causing natural conversation output to be audibly rendered; or (iii) refrain from causing any interaction to be implemented, can cause the next interaction state to be implemented.