Rising Trajectory of Voice-based Applications to Automate Processes

With the increasing popularity of smart searches and voice searches in smartphones, there has been a rise in the use of voice-based applications. As per data, there is increased use of digital voice assistants globally, with India having 72% adoption rate. Also witnessed is a 97% satisfaction rate for smart speakers in India, which is highest in the world.

Seeing the exponential market prospect, the organisations like Amazon, Apple, Google, Microsoft and Samsung are competing hard to capture India’s smartphone market through their voice-assistant applications.

The primary reason for the growth of voice-based applications is the enriched customer experience. Voice-assistant applications have helped the organisations with capturing a larger customer base. The organisations are embracing innovations such as a shift from text chatbots to voice bots to let customers avoid the hassle of typing their queries.

More and more businesses are involving voice-based applications to make their processes more efficient by harnessing technological advancements like speech recognition, language processing and artificial intelligence. Seeing the trend, no one can deny voice being the preferred mode of communication for banking, payments and e-commerce in the near future.

The AI-based virtual assistants are utilised by the organisations to automate processes. Recently, one of the renowned general insurance company, HDFC Ergo General Insurance launched DIA, AI-enabled chatbot to streamline its business process.

While the experts see a tremendous market for voice-enabled services, the regional language comes as a significant challenge faced by the tech giants. With the multi-language country like India, the application only supporting English would be a bottleneck. In such cases, it becomes imperative that the voice and speech-enabled services support multiple regional languages to draw millions of new internet users, as the unavailability of data sets and non-proficiency of the current software poses a challenge. Another challenge faced with voice and digital assistant applications is user privacy.

However, in the future, with the technological advancements in both software and hardware front, it can be expected that voice and digital assistant applications are going to overcome these challenges and will go a long way with various innovative use cases. Thus, giving a boost to several industries such as banking, financial, insurance, education, e-commerce, healthcare, media and more.