While it's appeared before, the support for voice services is likely to grow steadily and become strong in 2021. Big tech companies will be looking for new ways to interact with services through BOT applications or phone services. In today's article, let's learn more about the benefits voice digitization which can bring to your business.
Voice digitization trend in the world
Without a doubt, Artificial Intelligence (AI) is driving the determinants and strategies of many industries today. AI-powered algorithms are at the core of every business model.
It would not be wrong to say that the rise of artificial intelligence will create disruptive changes in companies and industries. Therefore, it is important for companies today to stay up to date with the latest changes that AI is making in the business landscape.
A study of Gartner says 30% of all browsing sessions will include voice search by 2020. Powered by artificial intelligence, Voice Recognition is a technology that can identify words and phrases in spoken language and convert them into readable text.
It can be seen that Facebook, Amazon, Microsoft, Google and Apple - five of the top tech giants in the world - have made this feature available on various devices through services such as Google Home, Amazon Echo, Cortana and Siri.
Today, 40% of adults in the US use voice to search on a daily basis, and this usage rate is expected to grow. Products like the Amazon Echo and Google Home are also being adopted at a faster rate than any other technology in history.
As more and more interactions happen via voice commands, the market space is becoming more competitive than ever. You need to recognize and understand the impact of speech recognition in business today, especially its application in voice search.
This is how voice recognition is driving business value for businesses today. Discovering information on practical applications of AI-based speech recognition in business.
Benefits of AI-powered voice recognition
In the coming years, the future of marketing will be defined by cutting-edge technologies like data science and big data.
A report on the marketing market shows that 26% of marketers believe that AI will drive marketing activities. 21.23% others admit that voice search will become a major trend. In the near future, voice recognition and its application in voice search will play an important role in determining how users interact with a business.
Here are some of the key benefits of voice recognition, explaining why its use is on the rise.
- Voice commands are convenient and take less time to process because there is no need to type and query.
- Using voice recognition devices allows multitasking.
- Assistants at home help increase productivity by taking less effort and saving time.
- The implementation of voice recognition technology reduces the need for customer representation, which reduces labor costs.
Voice recognition in different verticals
With the advent of several voice recognition products on the market today, it is important to consider the business implications of voice recognition. Here, we outline the top applications of AI-powered speech recognition in business today. Let's learn about the application of Voice technology in different verticals.
Voice technology in the financial sector
Banks have begun to realize the value of voice banking in reducing the need for human service representatives. This will help reduce overall staffing costs. That's why the application of voice technology in business has become the current trend.
In addition, having access to your own digital banking assistant on mobile will increase customer satisfaction and retention.
Now you can check your account balance, find out payment due date, view account transaction history… all thanks to artificial intelligence.
Voice technology in human resources and marketing
A large part of HR work is transactional, repeatable, auditable, and documentable. Bots are very good at doing all of these things. With voice technology, HR professionals can simply ask Cortana to update and manage the hiring database.
The benefits of voice recognition also appeal to marketers. Voice assistants can help them schedule social media posts, generate reports... Moreover, these days AI-powered bots can also help with advertising.
Voice technology in retail
Now you won't have to go to all the stalls to find your favorite. Thanks to the application of AI-based speech recognition technology, you can sit at home, give commands to the device so that it helps you add products to your cart, order coffee, food… even help you pay.
Amazon and Starbucks are two typical examples that have successfully applied this model.
Voice recognition for everyday tasks
The impact of AI-powered voice recognition on companies can also be seen more directly in their business processes. Here is how AI technology helps manage daily work tasks:
- Document: Voice recognition allows users to dictate content for documentation purposes.
- Email management: Employees can easily access, write and send emails by voice command.
- Holding meetings: Voice-enabled devices can be used to schedule meetings, reserve meeting rooms, and notify participants.
- Joining the online conference: Employees can give voice commands to join a webinar or videoconference.
As more and more people interact with businesses thanks to voice assistants, businesses will have more opportunities to respond to customer requests. In the near future, there will be many interesting and exciting applications of AI-based voice recognition in enterprises. If your business is moving towards using more than voice search for online searches, contact ZinPro experts for advice.