Three reasons to invest in voice technology today
When the Internet was introduced to the public not a lot of companies saw the purpose and the opportunity of having a web presence. In fact, only 23,500 websites existed in 1995, 5 years after the introduction of having a web presence.
However, since 1995, we have witnessed a tremendous growth leading to 1,630,322,579 websites online today, with hundreds of new websites being launched each day. Let’s face it, we cannot imagine running a business nowadays without having an online presence.
Much like the web back in the ‘90s, voice represents an enormous number of possibilities and potential. The reality is that enterprises are expected to own and manage their own voice-first presence and capabilities, just like every company nowadays manages and owns a web presence. Here are three key reasons to invest in speech technology today.
1. You are missing out on a strategic asset for your company
Not enough enterprises are adjusting their corporate strategy to accommodate for the Voice Technology workstyle shift. And the companies that are doing this are relying on AI technology from big tech companies like Google, Amazon and Microsoft. Businesses relying on these AI technologies are providing these big tech companies with personal data which is fed into the AI system making it smarter. In reality you are strengthening what is becoming a critical competitive edge for another enterprise.
2. Your private data is always at risk
Did you know that in order to improve the accuracy of speech recognition, you need to read, filter, tag and overall correct and connect data. Imagine your personal data being reviewed by other companies and unknown data scientists, without having any NDA or privacy agreement in place. Think about your confidential meetings, calls and orders that may be reviewed for other purposes or monetized as valuable data to competitors. Right now, your private and sensitive data is processed in the clouds of big tech companies.
3. You are not getting the best results
Most open available speech engines today offer support for what is called general conversation. Of course this can support your day to day conversations or other voice supported applications within your company, to some degree. However, when it comes to corporate communication (names, departments, reports, process etc..) or industry specific terminology (legal, medical, chemical etc..), the accuracy of these engines drops significantly and become less reliable to use. The fact is that engines offered by Google, IBM and Amazon are not specifically trained for your company and communication. Currently, you are relying on voice technology that is not tailored to your business and industry.
So what to do?
Investing in Voice Technology allows your company to create a strategic asset to which on-premise voice enabled solutions connect. AI supported customer service, voice enabled order processing or voice recognition for payments, the implementations of voice technology are endless and undeniably progressing. The time to start working on voice integration within your enterprise begins today.
Security and privacy of your data is almost never guaranteed when using a third party provider of speech technology. Unless you can get the right documentation in place, such as an NDA or privacy agreement, your data is always at risk. An on-premise or privately hosted speech engine with the right documentation in place will guarantee a private and secure way of implementing voice enabled solutions.
Wouldn’t it be a good idea to invest in a speech engine that over time becomes smarter and tailored to your business? Accuracy is really important when you automate business processes using voice technology. It is advisable to train a specific speech engine that is tailored to your enterprise communication and terminology.