Ok Google, What’s Happening In The World Of Voice Recognition?
Voice recognition and voice assistants are growing and are slowly becoming a part of everyone’s daily lifestyle. Trying to recall the age where Siri, Alexa or Google wasn’t a part of our life seems tough. As more and more devices go online with the expansion of internet of things (IoT), voice is becoming a key interface as it is an easier and more consistent form of interaction with devices. The voice and speech recognition market is predicted to grow from $1.1 billion from 2017 to $6.9 billion in 2025. This steady growth can be attributed to the ever-developing AI industry that acts as the backbone of the voice and speech recognition technology.
Since voice assistants are primarily operating on our smartphones and smart home devices, people are open to adopting this nature of interaction and are able to test how useful this interaction can be. We have all had a few good laughs and are still thrilled with all the functions that our virtual assistants can do. Here’s a hilarious tweet from roastedryebread painting a picture of the “biggest” problems we’re facing in our current technologically advanced world.
When we think of virtual assistants and voice technology we look for fairly simple actions, perhaps to check the weather, to play our favourite songs or even to check our schedule for the day. The question always was, when is voice going to make a bigger move into businesses? The market trends indicate that the future of voice seems promising. The only thing we should be wondering is, how long before we are completely dependant on voice assistance to conduct our daily business interactions? We can see the shift being made within big companies like Microsoft and Amazon who are using voice assistance to better serve their customers as well as improve their level of productivity. Microsoft made a move by integrating AI into Outlook, Word and Powerpoint as well, which helped expand its user base. It now allows users to dictate the content of an email or a document by skipping the effort of typing out the content. No more losing your train of thought as the interface helps transform your thoughts into words without much effort! Microsoft also says it supports over 20 different languages within its service. Financial sectors are also slowly adopting the trends, as we see JP Morgan using Alexa to provide research analytics reports to their customers.
With majority of consumers shifting to devices that no longer support the traditional user interfaces, it would be rather risky for companies not to keep up with the trend of having speech recognition. Automation is a key factor to keep you going. There are numerous gaps in the market which can be filled by incorporating voice recognition. It’s the only way you can keep up with the growing competition in this digitally focused world.