Conversational eCommerce is a big opportunity today for businesses. The growth of Artificial Intelligence (AI), Machine Learning, and Natural Language Processing (NLP) have empowered voice-based apps to understand human speech. These applications create a complex, interaction using the human voice and are getting smarter and reliable.
From shopping to automobile everyone is using some form of voice-AI technology. This is largely due to the advent of voice-based personal assistants like Amazon’s Alexa, Apple’s Siri, Google’s Assistant, and Microsoft’s Cortana that offer brands an opportunity to interact with consumers via messaging and voice seamlessly.
- People prefer to communicate with brands through text message and voice rather than email, phone or social media. (OpenMarket survey)
- According to Gartner by 2019, there will be more request for customer support on mobile messaging apps than call centres and social media.
- “22% of voice assistant owners reported that they shop using voice commands (e.g., re-orders, shopping lists),” says Adobe.
With voice-activated shopping slowly gaining momentum, building customer loyalty while selling more will be a challenge. Brands are wondering how to bring conversational interfaces to the existing products and voice to their product experiences.
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Let us look at the ways in which this technology will impact major industries as this technology evolves.
Automotive is one industry vertical where voice-activated technology is making a huge impact. In-car speech recognition systems is a standard feature in the new cars coming into the market today. Hands-free voice interfaces is another feature that will increase the safety features making cars futuristic and safer to drive. Public transportation companies are also integrating voice-activated platforms to improve the booking processes, answer customer queries, give out information on the bus timings, routes, and more.
The education sector has experienced a huge boost with the voice technology and is fast changing the way subjects are learned and taught. Teachers can effectively create online lessons and video tutorials, while students can access their lessons fast.
Retail & eCommerce
Consumer behaviour is changing rapidly. Today’s tech-savvy consumer wants information on the go. The impact of voice interaction is going to completely change the value criteria for the retail sector. Voice-based searches have made it easy to locate stores in a mall or search for a product on the e-commerce websites. With eCommerce channels growing manifold their success will depend on how brands integrate conversational experiences into their retail strategy.
Finance & Banking
Voice-activated chatbots and robots are providing customer support equivalent to the human associates to the finance and banking customers. They offer a conversational interface for the user and customers can use interactive voice commands to make payments, check account balances, and obtain transaction statements etc. Voice recognition improves security checks in banking and financial transactions it helps as a biometric recognition to authenticate users.
Voice AI can facilitate more efficient patient care in the healthcare sector. Voice AI assistants can efficiently be used to document patient history, search for files faster, and transcribe documents more efficiently. They can be used for mining medical records — collecting them, storing them, streamlining them, as well as tracing their lineage
The bottom line
Voice AI has powered the wheels of conversational e-commerce, which has impacted the way the customer communicates with the brand in multiple industries. Brands generally build a campaign to emotionally connect with customers, for long-term growth. With Voice, brand campaigns need to be short and ones that can lead to immediate buying. Conversational e-commerce is still in its nascent stage and it is expected to grow manifold in the coming years. The future of shopping is going to Voice AI and marketers have to get on the bandwagon fast to increase their brand value and visibility. Targeting will have to be highly personalized for success.
What are your thoughts on Voice-activated AI and how it will affect brands? Get in touch with your thoughts or questions, write to us at email@example.com