Why voice technology isn’t really useful yet – TechCrunch

On average, men and the women speak roughly 15,000 words a day. We call our friends and family, log into Zoom for meetings with our colleagues, talk about our days with our loved ones, or, if you’re anything like me, argue with the referee about a bad decision they made in the playoffs.

Hospitality, travel, IoT and the automotive industry are about to level up the adoption of the voice assistant and the monetization of voice. The global voice and speech recognition market is expected to grow at a CAGR of 17.2% from 2019 to reach $ 26.8 billion by 2025, according to Meticulous research. Companies like Amazon and Apple will accelerate this growth as they take advantage of ambient computing capabilities, which will continue to push voice interfaces as the primary interface.

As voice technologies become ubiquitous, companies are focusing on the value of latent data in these new channels. Microsoft’s recent acquisition of Nuance isn’t just about achieving better NLP or voice assistant technology, it’s also about the trove of healthcare data that conversational AI has collected.

Our voice technologies are not designed to deal with the clutter of the real world or the cacophony of our real lives.

Google has monetized every click of your mouse, and the same is happening now with voice. Advertisers have found that conversation conversion rates are higher than click-through conversion rates. Brands must start developing voice strategies to reach customers, or risk being left behind.

Voice technology adoption was already on the rise, but with most of the world under lockdown protocol during the COVID-19 pandemic, adoption will skyrocket. Narrowly 40% of US internet users use smart speakers at least once a month in 2020, according to Insider Intelligence.

However, there are several fundamental technological barriers that prevent us from reaching the full potential of technology.

The steep climb to commercialize the voice

By the end of 2020, shipping all over the world of wearable devices increased 27.2% to 153.5 million over the previous year, but despite all the progress made in voice technologies and their integration into a large number of end-user devices, they are still limited in largely to simple tasks. That is finally beginning to change as consumers demand more from these interactions and voice becomes a more essential interface.

In 2018, car shoppers spent $ 230 billion to order food, coffee, groceries, or items to pick up at a store. The automotive industry is an early adopter of voice AI, but to truly capture the true potential of voice technology, it must become a more seamless and truly hands-free experience. Ambient noise from the car still muddies the signal enough to keep users tethered to using their phones.


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