Voice artificial intelligence is an emergent technology, and even industry insiders haven’t yet settled on a clear-cut definition of the term. Tech bloggers use it to refer to any of the intersections of artificial intelligence with automated speech recognition (how computers understand spoken language) and/or text-to-speech generation (how computers speak).[2]

Figure 1. Benefits of Voice artificial intelligence

Figure 1 shows According to the Pew Research Center, approximately 55% of virtual assistant users prefer speech recognition apps as they offer hands-free operation of devices. With the current trend, the voice-based speaker market could be worth $30 billion by the year 2024.

The voice AI assistants, namely Amazon Echo, Siri, Google Assistant, Google Home, Amazon Alexa, and others are a few incredible advances that have replaced the need for touchscreen devices. Experts expect voice-based shopping will reach $40 billion in 2022. [3]

The Benefits of Voice Intelligence

Voice intelligence enables businesses to record or capture—and learn from—calls, delivering a variety of different benefits:

• Assists with sales by helping sales assistants pinpoint deals they may be in danger of losing.
• Frees up sales assistants’ time to contact prospects and leads by automating simple but time-consuming tasks like note-taking.
• Provides sales assistants with access to real-time customer insights so they can understand customer needs and preferences better.
• Enables better customer service provision.
• Customer insights and data contribute to the improvement of your products as you can note your product flaws.
• You can also access competitive insights in real-time, keeping you up to date with customer trends and needs.
• Helps you find out what works and what doesn’t work for your customers.
• With voice intelligence built into conference calls, too, your business team can focus and contribute better to the meeting instead of worrying about note-taking.
• Betters productivity and employee operations. [1]

Voice AI: The future of customer support

Voice AI platform offers excellent support to businesses and users to connect with the system effectively. Reducing the burden on the customer support staff, the voice AI call centre is the most compelling advancement in voice recognition technology.

It also adds an extra layer of security as it can authenticate a speaker’s voice by analysing patterns. This is extremely useful in fraud prevention, especially in the banking and e-commerce sector.

Deloitte’s Beyond Touch: Voice Commerce 2030 study noted that e-commerce will generate 30% of sales via voice commerce by 2030; this undoubtedly emphasises the future trend of the technology, the adoption of voice AI. [3]

References:

1. https://www.bigcommerce.com/ecommerce-answers/what-is-voice-intelligence/
2. https://www.readspeaker.ai/blog/voice-artificial-intelligence/
3. https://verloop.io/blog/how-voice-ai-works/

Cite this article:

Thanusri swetha J (2022), Benefits of Voice artificial intelligence, Anatechmaz, pp. 48