Voice Assistance: Marking Its Presence In The Business Landscape

With automation and AI encasing the business landscape, it will not be surprising if all the communication and interaction is AI-based one day and no human intervention will ever be needed. A firm step in this direction is the advent of voice assistance in the business domain. From global leaders like JP Morgan to startup businesses like Avaamo, everyone is using the concept of voice assistance to grow and expand their businesses. According to a study conducted by Global Banking & Finance Review, 88% of the top business leaders believe that businesses can gain a significant competitive advantage if they use voice assistants in their daily operations. The advent of voice assistance is a pivotal shift that the tech and UI industries have seen after the revolution brought about by the web and smartphones.

After successfully crawling into our daily lives, be it in the form of Google Home or in-car voice assistance, the concept of voice assistance is now trying to set foot in the professional and business domains as well. With Amazon, a well-known name in the industry, assisting Disney in the launch of its voice assistant, “Hello Disney,” it is widely stated that the business world’s titans are welcoming this technology with open arms. Not only is this technology optimising and increasing productivity, but the benefits of using voice assistance are immense. From setting reminders to scheduling a meeting, voice assistance can help with a smooth and hassle-free flow of simple daily tasks. As a tool to ease and enhance businesses, voice assistance is also bridging the gap between brands and customer interaction. Research by the Capgemini Research Institute shows that customers have started to trust voice assistants for advice and recommendations regarding a product. 

Leading brands are leveraging voice assistance to create a more personalized customer experience. The different sectors are competing hard to be the flagbearers of this new tech revolution.

The banking sector has accepted the emergence of voice assistance and has used it to the fullest. The chatbot ”Erica,” developed by the Bank of America, successfully handles the client base of the bank and helps customers with payments, balance checks, and a lot more.

Not far behind in the race are consulting firms. A well-known name in the consulting industry, JP Morgan is making use of voice-assisted marketing insights to stay steady in the race. Other consulting firms like Wipro and KPMG, which provide virtual personal assistant services, are also trying to keep up with the pace. In the food and beverage industry, major players like Starbucks are launching voice-ordering services with Alibaba to cater to the Chinese market. Apart from this, the famous fast food joint KFC is also trying to reap benefits from voice assistance by launching voice-ordering services to make the process seamless for the customers.

Apprehensions Persist 

Even though the advent of voice assistance is burgeoning in the business landscape, there is still some apprehension and obstacles before fully relying on it for operations. The aspect of language detection has become a roadblock in making the voice assistance process seamless. With technology reaching far-flung corners of the world, inculcating languages and dialects becomes necessary to increase accessibility. 

Not only is language a major concern when it comes to voice assistance, but so is security. According to a survey report by Capgemini, 52% of the survey respondents were skeptical while using voice assistance, fearing that the background conversations were being recorded as well. According to a study by PwC, 46% of people did not trust voice assistance with their orders. As a result, providing encryption and security to customers is critical to reaping the greatest benefits from voice assistance. 

The world is advancing at breakneck speed with each passing day. Every sector of the economy is making remarkable progress in the technological domain, and none wants to be left behind in this race. The upcoming voice assistance revolution is a significant one. Since voice assistance is an intermediate source, the development of this domain can be limitless. Some companies have already marked their presence in this area, while others are moving swiftly to join the race.

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