Voice is all set to be the next big thing in the market. Moreover, voice-activated assistants have already made a debut in our homes and offices. Surrounded by smartphones, smart cars, home appliances, and much more, speech recognition technology ranges from HR, Finance and Marketing, to Telecommunication and Public Transportation. The goal is the same for all – Bringing down the business cost, simplifying the processes, and achieving an overall efficiency!
So, how different and how unique is this speech recognition technology?
Speech recognition entered the public consciousness just recently with huge launch events from tech giants making a global trend. The attraction is instinctive as we are more pleased with the machines that can understand us. With voice-enabled platforms that are in the form of speakers, both the input and the output is the voice. But now it is making advancements. Amazon’s Echo that originally worked as a smart speaker is now offering new interfaces and experiences. Its Echo Show provides visual output via a screen.
While voice is still the primary mode of interaction for voice-enabled devices, the market has already witnessed more sophisticated experiences with the mixture of new features.
The Scope of Speech Recognition
With the introduction of AI digital assistants in the workplaces, everyone can have their own personal assistant. From asking Google Assistant to create a graph for showcasing organization’s growth. To asking Cortana to search for a long lost budget report. The efficiency rate of using digital assistant at a workplace is far-reaching.
Speech recognition technology can very easily replace simple tasks, such as manually going through the files on your system in the same way that the electronic document does. Moreover, it can be done easily by replacing paper files. And instead of typing out on a computer, content can be very easily dictated.
Additionally, Office security can use speech recognition technology. Long data entry processes can be done easily with AI taking over. The lighting and temperature control all work on a pre-determined personal indicator, that can be easily handled with voice commands, thus increasing office productivity.
Applications of Speech Recognition Technology:
Although the companies still need to implement the speech recognition technology in this sector, banks can keep an eye at this promising speech recognition technology. So, instead of logging into your net banking account, you can directly ask your digital assistant about your account balance.
As far as bank’s customary works are considered, with speech-based banking the need for human customer service representatives will drop, thus reducing staffing costs. Along with checking account balance, customers can also hear their payments due dates. And also obtain account transaction history and make payments by speaking to a digital assistant on their devices. This will considerably increase overall customer satisfaction and retention.
The HR’s work is repeatable, auditable, documental, and transactional. With voice-enabled technology HR professionals can simply ask digital assistants to scour different databases and find the right candidate according to the requirement.
For the marketing experts, voice assistants can help in scheduling social media posts, create reports, look for the right content, and so on. Organizations have started exploring the new ways in which they can utilize this technology to improve their customers’ experiences, creating brand awareness, and moreover, improving the entire digital experience. It is seen that voice is becoming a useful form of interaction from brand to consumer and vice versa.
In Retail Businesses
Besides shopping physically, Amazon has already made big advancements in the field of customer online shopping. With its Echo device – Alexa, people just need to tell Alexa to order whatever they want and she will go through the Amazon store and order. And you can order as many products as you want from Amazon without lifting a finger.
In Public Transportation
Third party apps are already on board to augment with some of the major voice-assistants. Users can easily ask these voice-enabled devices to book an Uber. However, there are certain companies that are working to integrate public transportation on voice-platforms. With the capabilities allowing users to ask simple questions such as: “When is the next bus arriving? or How do I get to the work?” Voice assistant can use the online existing information to provide the best answer.
In Crime Investigations
Speech Recognition technology is also making advancements in the field of crime-scene investigation. Researchers are working on trialing visual speech recognition technology that could reconstruct conversations captured on video when there is no sound. This is a slightly different speech recognition technology in which machine recognizes the appearance and shape of the lips in order to reconstruct conversation.
It is different from what Alexa, Google Assistant, Siri, or Cortana do, but is one of the most challenging problems in the world of AI.
Eliminating Language Barrier
Additionally, organizations have started working towards removing language barriers. For example, Microsoft’s Skype Translator that it is currently available only in 8 languages, but its text translator is available in more than 50 languages, eradicating the language barrier.
The implementation of real-time translation is important for both public life and businesses. Global partnerships can flourish if the language is no longer an issue anymore. And even innovations can come out from different cultures. We have already seen that diversity is a huge benefit for businesses and this will take things to the next level.
Humans can speak 150 words per minute on an average but can type only up to 40. Now it is the time, that speech recognition should take over since technology is rightfully fitting with the Internet.
Speech Recognition Technology is becoming a standard, but in the upcoming time, its accuracy will determine whether it will become a feature that we can’t live without or not.
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