The Artificial Intelligence (AI) landscape is evolving rapidly over the years alongside machine learning (ML). From being a fascinating sci-fi concept in the ’90s, AI is on track to become the future as it garners the attention of various industries who scramble to incorporate AI into their work processes. One of the wonderful inventions of AI is ‘Conversational AI’ (Voice or Chat-based conversations) which is the use of messaging apps, speech-based assistants and chatbots to automate communication and create personalized customer experiences at scale.
Not wanting to be left behind, enterprises are quickly adopting conversational AI mainly for reasons such as to improve their Productivity, Efficiency, and Accuracy. As a case in point, platforms — like WhatsApp or WeChat — will have chatbots sending customized notifications in the future.
Trending AI Articles:
1. Cheat Sheets for AI, Neural Networks, Machine Learning, Deep Learning & Big Data
2. Data Science Simplified Part 1: Principles and Process
3. Getting Started with Building Realtime API Infrastructure
4. TOP 100 medium articles related with Artificial Intelligence
Research conducted by EY, states that “Organizations that are enabling AI at the enterprise level are increasing operational efficiency, making faster and more informed decisions as well as innovating new products and services.”
AI — The Voice Experience with the Frontrunners
Today, the four frontrunners in the AI voice space are Amazon (Alexa), Apple (Siri), Google (Google Assistant) and Microsoft (Cortana).
According to market intelligence firm Tractica, voice-based digital assistants will grow from more than 390 million worldwide users in 2015 to 1.8 billion by the end of 2021. Their user-base in the business world is expected to increase from 155 million users in 2015 to 843 million by 2021.
The Adobe Analytics survey shows that 71% of smart speaker owners like Amazon Echo and Google Home use voice assistants at least daily, and 44% saying they use them multiple times a day.
AI: A Future not that far
At the speed which AI is accelerating, AI will bring about significant changes to the following areas:
Customer Interaction in Retail
Voice is the next realm of retail for the tech-savvy consumer. Voice purchasing is in its early stages with many brands building conversational experience in their marketing strategy.
AI-powered live chatbots are interacting with customers; providing answers to their queries in a timely, automated manner, thereby improving every facet of your business — customer loyalty, brand reputation, customer satisfaction and even generating revenue at times.
By using a pattern recognition algorithm, AI can predict demand for products based on customers’ past purchase, search behaviour, their buying power, in addition to the market trends.
- According to digital marketing gurus, “by 2020 more than 85% of all customer support communications will be conducted without engaging any customer service representatives.”
- According to another study by Zendesk, as many as 42% of customers showed more interest in purchasing the product after experiencing good customer service.
- A recent Gartner report suggests that 55% of established companies either have started making investments in the potential of artificial intelligence or are planning to do so by 2020.
- Oracle in its study says, “Nearly 8 out of 10 businesses have adopted or are planning to adopt the power of AI for customer care solutions by 2020.”
- Voice search queries are longer as compared to regular text-based searches. — Campaignlive
Automated vehicles (AVs) already traverse US roads and many other countries around the world. The roads with self-driving cars are fast becoming a reality. A number of companies are majorly investing in AVs such as Alphabet, Apple, BMW, Mercedes, and Tesla (apart from a host of auto brands and other tech companies) have already launched their autonomous vehicles, and have proven to be successful.
According to a survey by Voicebot.ai, more than 77 million users in the US use voice assistants in their cars at least monthly, in comparison to 45.7 million using them on smart speakers.
The image below depicts the number of US adults who access voice assistants monthly via different outlets.
Voice assistants like Amazon’s Alexa has an Alexa-controlled smart speaker for cars and Google’s Assistant is used on a couple of car devices. Amazon has made its own car-focused device — known as the Echo Auto and over 1 million people have pre-ordered it.
It’s a win-win situation for voice assistant providers and automakers. These services also boost the in-car experience for consumers and can be the key differentiating factor for automakers once connected cars are ubiquitous.
Travel destinations, hotel bookings, flight, train and bus booking — everything has gone digital today. There are a number of mobile apps that are catering to the process of finding, booking and paying for them much simpler. You have the GPS to navigate you through places and you can also explore the destination virtually before you embark on the journey.
Voice technology is helping travellers in a big way. Language is no longer a barrier to getting the best customer experience. Hotels are providing voice assistants to guests, translating in the language of your choice which is improving guest satisfaction and seamless travel experience.
Healthcare focused on Voice Assistance
AI and robotics are changing healthcare. One such example is patients and doctors. Patients can book appointments with the right doctor, track reports and medication. They can also report symptoms asking voice assistant for advice whether medical attention is required or not.
Moreover, AI-powered assistants being available 24 hours can provide assistance on-demand. Invalids, chronic patients and outbound patients staying far away from hospitals would greatly benefit using these virtual assistants.
Physicians can use programs to take notes of patient treatment as well as access data and records.
AI — The Final Take in the Future
Many view this progress in technology as a threat rather than a tool to better ourselves. Over the years, there has been much talk of artificial intelligence from nearly all industry verticals.
Going forward, AI is going to grow more than we ever anticipated with Voice being incorporated in countless devices as Voice isn’t just a trend, it’s convenience — because we can talk faster than we can type. They will become an indispensable part of our everyday life — be it at home, restaurant, work, car, anywhere! Users will get a tailored experience with contextual understanding, when they interact with the voice assistants and there will be a big change in search behaviour as AI learns from each response, thereby promoting productivity and efficiency.
According to Dag Kittlaus, the co-founder of Siri, his new product called Bixby on Samsung devices will soon be on more than 1 billion Samsung enabled devices. Together with the four frontrunners in action, we’ll soon be inundated by voice-enabled interactive machines.
Some key predictions of Voice in the future are:
- Personalized Responses with Contextual Understanding — You will see more tailored experience in 2019. Google has already raised its game with Google Assistant having understood the context of follow-up questions. For example, if a user asks “What is the temperature today?” then ask “Will it rain? Google understands the context of the second question relates to the location you are in.
- Individualized Experiences — Google Assistant can identify up to 6 different voices as of now. If 6 different people ask questions, the devices by differentiating voices and will detect unique voices to give inputs accordingly. Users can ask “Tell me the schedule for the day?” and the assistant will relay information that is tailored for you.
- Voice Search — From touchpoints to listening points, voice search will change how individuals search over the internet. According to ComScore, 50% of all search will be via voice by 2020. Companies like Google and Amazon will open their platforms offering paid messages.
- Voice Payments — Privacy and security being the main focus, voice payments will become more secure and convenient.
Amazon offers Transcribe, an automatic speech recognition (ASR) service, while Google’s Actions, allows developers to integrate voice into their products. Google also is offering the AI-driven Cloud Speech-to-Text tool that can convert audio to text through deep learning neural network algorithms.
AI will change our world — both within and outside the workplace. Instead of focusing on the fear surrounding automation, businesses need to embrace these new technologies to ensure they implement the most effective AI systems to enhance and complement human intelligence. Incorporating AI into businesses is no longer seen as a trendsetter, but as a need, as more and more businesses adopt AI into their work processes and are reaping the benefits of it.
Winimy in Action at Google Cloud Summit
Winimy AI was the official navigational and concierge partners event — Google Cloud Summit 2018, Google’s flagship event, which was attended by 13,000 industry experts — to showcase the award-winning Voice AI Concierge solution that has powered many large-scale tech events like Echelon 2018, Office Expo Asia and bespoke events for companies like Cargill. Our voice AI-powered concierge service helped the visitors navigate this bustling event with ease, providing information about the talk they wish to attend, along with the location and time. The concierge service also gave users additional information about the venue, such as places to shop and eat within MBS which is a sprawling and a daunting place to navigate without information. Winimy AI-powered concierge service was a huge success, attracting repeated visits from visitors awed by our technology.