Voice Technology: Trending with a Paradigm Shift

Media Entertainment Tech Outlook | Thursday, June 27, 2019

Isn't it fascinating that with one voice command, we can make calls, learn directions, and listen to music and what not?

FREMONT, CA: Voice technology has reached comfort and maturity levels that will change the way, business-consumer relationships are built. The ability of a machine or program to receive and interpret dictation or to understand and carry out spoken commands is what voice technology does. The battle for retail banking is intensifying as tech companies are now applying for banking licenses and banks calling themselves technology companies. Businesses are transforming their business models and product distribution to better address how consumers interact and use their financial products.

Alexa-equipped devices have been sold more quickly than a free meal. Voice-capable devices are becoming pervasive, and smart speakers also use their device daily. Voice technology satisfaction in evident, and consumers are enjoying the experience as well. Twenty to thirty percent of mobile searches are also done by voice. By 2020, as a study shows, voice technology is forecasted to increase. Voice shopping is also expected to be around ten percent of all mobile e-commerce transactions.

Voice technology has gained prominence and uses with the rise of Artificial Intelligence (AI) and intelligent assistants. Voice technology is the three-way intersection of the Internet of Things (IoT) devices, AI services, and User Experience (UX) interactions. The outcome is a hands-free, frictionless way to use technology that feels more like science fiction than reality. Voice has frequently become part of human experiences, but it is essential to remember that it’s not a product, it’s an experience. With any emerging technology, accelerated advances in voice have inspired questions about everything from privacy to inclusion. Whether voice reshapes your entire industry or becomes an expected mode of interaction with your product or brand, it’s important to consider testing the waters now.

Early adopters of voice technology are unconsciously bringing AI into their living rooms and kitchens. Use of voice could go way exceeding home entertainment entire family, from toddlers to octogenarians can order a voice assistant, and the immense prospective user base is part of the potential. Voice, quite simply, is technology for everyone. Voice technology offers added opportunity to rethink everything.