6 Growth Opportunities for Voice-to-Text in the Mobile Industry

The latest study let out by reports shows that there will be a rapid increase in CAGR in the coming years. Speech and voice recognition is the process by which spoken words are converted to text by an AI algorithm, and this is expected to be the next big thing in computing. This process is also known as Automatic speech recognition, Computer speech recognition or speech-to-text and these technologies are finding uses in many different industries, with services, healthcare and mobile banking being the most prominent ones. Here’s a look at some of the opportunities provided by such voice technology.

Voice Assistants

Apple’s Siri, Google Assistant, Cortana by Microsoft and Amazon’s Alexa have all been path-breakers in their field and offer several services. All these tech giants foresaw the rise of such search engines and assistants and hence invested in this technology early on so as to gain larger market shares, and now the competition is tighter than ever before. Whether it be for a smart home or a smartphone, these voice assistants are finding several applications all over the world. Here’s a look at how such technology will push innovation forward.

  • Personalised Responses

The last decade has shown us that the customer is truly king and that applications that offer a personalised user experience will tout the rest and stay on top of the market. Hence, now more than ever, contextual understanding has become the name of the game in the technology services sector as it is the one quality that will help applications stand apart from the rest. Users prefer gadgets and apps that provide them with a personalised experience whenever they interact with technology.

Users can now interact with the Google Assistant and ask the assistant about the weather and even which all hotels are nearby.  Alexa falls behind in this category and does not offer this level of personalisation. Google Assistant has grown to an extent wherein it can understand user requests and respond accordingly.

  • Individualised Experiences

As Voice assistants gain the ability to differentiate between voices, they will learn to provide individualised and adaptive experiences to users. Google Home has the power to support over five accounts and is able to detect unique voices, allowing it to customise features accordingly. It even provides users with nicknames and stores payment information enabling multiple people to have their own personalised assistant from the main application.

  • More than a Mobile Phone

Steve Rabuchin, who serves as the VP of Alexa has the following to say regarding the future of such technology, “Our vision is that customers will be able to access Alexa whenever and wherever they want. That means customers may be able to talk to their cars, refrigerators, thermostats, lamps and all kinds of devices in and outside their homes.” App developers will have to integrate various channels and platforms and try to build a system that is not too fragmented or too complex. All of us need to grasp the capabilities of such devices and their integration to move ahead and build a sustainable brand.

  • Evolving Search Behavior

Users cannot see or visually comprehend an interface that controls  Alexa or Google Assistant, and this is one hurdle we might have to cross to build stronger relations with the application. Voice-based ad revenue is predicted to touch $19 billion by 2022, due to the growth of such technologies. Studies by comScore have predicted that by 2020, 50% of all searches we conduct will be done via voice recognition and AI-based speech systems. Systems.

  • Notifications

Developers will have to find new and innovative ways to retain maintain user attention. In September, a notification functionality was added to Alexa, allowing it to procure and indicate new content.

Urban Airship had the following to say regarding their idea of how things will pan out in this scope, “Today’s voice notifications might be pretty basic, but just as app notifications have evolved into rich interactive experiences, so will voice notifications evolve as voice interfaces become more prominent in our lives.”

  • Tactile Interaction

The future of such technology seems to be in the seamless integration of voice and displays. Google has plans to merge its voice assistant with the Lenovo screen display. Google’s CES 2018 showcased several services that the Google Assistant would be capable of when it undergoes updation and evolution. The most significant plans seem to be ones, including interactive screen displays.

The shift to artificial intelligence based technology has led to a change towards voice-enabled services. The number of smart thermostats, speakers and other such gadgets has been on the rise for the past decade, and their exponential growth has become the centre for innovation in this field. These voice assistants are helping to connect the interface and the user in a way like never before.


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