Is Voice Recognition Technology Ready?

Voice Interface Applications take advantage of major advances in voice recognition technologies to delivery user-friendly applications accessed from any telephone and driven by the spoken word.

STATE OF TODAY’S TECHNOLOGY

Most individuals consider the state of voice technology to be characterized by their experiences with interactive voice response (IVR) applications such as telephone company directory assistance. However, the technology has moved far beyond this basic consumer service. Commercially available voice technologies include voice recognition, voice authentication and text to speech. Rapid improvements in these applications are the direct result of cheaper and more powerful computing speeds and memory as well as breakthrough improvements in algorithms. The results include:

1. Robust voice recognition software that is able to recognize 99% of utterances despite dialect or diction
2. Authentication software identifying voice patterns with the same accuracy as fingerprinting
3. Text to speech audibilization with nearly 100% accuracy.
4. Overall caller satisfaction with existing voice-driven, phone services consistently ranges from 87% to 96% satisfaction

CORPORATE BUY-IN

Since the late 1990’s, many prominent blue-chip companies have operated voice applications to drive e-business systems that deliver services such as flight information and real-time stock trading. Major corporations are now placing highly sophisticated next generation voice technology systems into commercial consumer-based service applications and they are experiencing tremendous customer acceptance and cost savings. Industries leading the way:

1. Brokerage firms (E-Trade and Charles Schwab)
2. Airlines (American)
3. Telecommunications firms (Qwest Communications)
4. Telematics Applications (OnStar)

MEASURABLE BENEFITS

1. Reduced staffing of internal support services as less people are needed to field phone calls
2. Improved business processes due to immediate and automated digitalization of field resource voice data
3. Voice applications can be inexpensive and don't typically require an investment in specialized hardware, proprietary software or complex integration with existing databases.
4. Enhanced customer satisfaction due to the speed, ease of use, control and freedom afforded by speech recognition powered self-service