In today’s digital environment, speech recognition technology has become an increasingly popular concept that is used by users and companies all over the world. According to Google’s chief executive, 20% of Google searches on smartphones today are entered through voice, not text. This technology is now used in various devices and different communication channels, allowing the system to identify spoken words and convert them into a signal that can be understood by the machine, to then be translated into useful information that can help the users. Most of the companies that have implemented the Communications Platform as a Service (CPaaS) have been gradually adopted this feature because it can help enrich customer experience and reduce organizational costs and therefore increase the productivity and profitability of a company. In 2017, the global market size for speech recognition was at USD 6.39 billion and expected to hit USD 29.28 billion by 2026 with a CAGR of 19.9% from 2019 to 2026. Why speech recognition technology become increasingly popular? Here are the benefits that it can give your business.
Deliver a great customer experience by improving self-service interactions
One of the most valuable contributions of speech recognition for businesses is the ability to improve self-service features in the company’s communication channels and therefore enhance the customer experience. Speech recognition can help customers to input their detailed information, without interacting with a live agent. This will reduce the customer’s queuing time, and therefore increase customer satisfaction. While for the company, this self-service feature will help reduce organizational costs and allow your employees to focus on more productive tasks.
Save time, improve efficiency, and make communications easier
Speech recognition can also improve operational efficiency in your business by providing and ease of communication. It will improve the speed of document turnaround because it can produce documents in less than half the time it takes to type. Not only that, focusing on speech and digital documentation can reduce the amount of paperwork that is required to conduct a business operation in the organization and therefore simplify the whole business process.
Critical communication tool for visually and hearing impaired
Implementing speech recognition can also be a strategic decision for businesses leaning towards a more inclusive digital environment. There are many people with visual impairments, mobility issues, and other physical disabilities who rely on this technology to use computers and other digital devices, allowing them to compose documents completely hands-free. Moreover, the ability to convert audio into text is also a vital communication tool for the hearing impaired. With speech recognition, technology can be used more inclusively and therefore contribute to close the digital divide.
Knowing the current trend and all the benefits mentioned above, speech recognition technology will be a fast-growing and powerful feature in many communication tools, including CPaaS Indonesia. The key to this emerging technology is processing, interpreting, and understanding a speech signal and convert it to reliable information for the users. Improving business efficiency, deliver a great customer experience, and allowing companies to build a more inclusive and accessible communication channel, speech recognition will change the way people communicate for the better.
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