Growth of voice-enabled chatbots
The growing AI industry and ever-evolving voice-enabled chatbots are causing similar changes in our world as Web 2.0. Voice apps are smart investments right now, as they will substitute many screen-based apps in the future. The number of voice-enabled devices and voice-assistants is growing consistently and rapidly. The growth of the digital market for digital assistants is predicted to reach up to $3 billion by next year, 2020. So in this blog, let’s dig deep on this technology and find out their potential for the future.
What are voice-enabled chatbots?
So when we use the term “conversational interface”, we often forget to acknowledge that there are two types of it. 1) Textual conversations, 2) Voice-enabled assistants. We use both the interfaces in chatbots every day, but to know what to use when, we need to understand each of its use-cases.
Voice-enabled chatbots are basically digital assistants that hear, perceive and respond to your voice inputs. For example, Siri and Google Alexa are voice assistants who read your voice input, analyze the task to be done and respond to you with relevant answers. These conversational interfaces understand natural language as they use NLP and NLU, and are trained to respond in natural language as well.
There are mainly two types of voice-enabled chatbots
- Voice assistants with chat support models- These are the usual text-based bots with a layer of voice on top. The input can be both texts and speech.
- Only voice-controlled bots- These bots are advanced and can carry out tasks ranging from setting an alarm or dialing a number to turning your house into a voice-support smart home. Like Siri or Alexa.
How are they a game-changer for businesses?
According to ComScore, consumers will make 200 billion voice searches every month by 2020. Businesses utilize AI to allow clients to determine issues and directly proceed with exchanges. AI chatbots can analyze your customers’ character, traits or any input the client provides. Chatbots can determine the date, place and the gadget data that the client is using. They can also determine whether the client is using the web or using an application to connect with the chatbot.
Chatbots also use various sources to gather and analyze client data. They measure factors such as client profile and inclination, the esteem of the organization, area, industry and the amount of cash spent in the previous year that gives the chatbot a bit more clarity about the client. All this data is commonly found on the CRM frameworks and can be fed to the chatbot easily.
They merge all this information to foresee client goals. They build up a comprehension of what the client needs by connecting every information cues from the interactions. It helps make the conversation more contextual and natural when the client connects with the chatbot. Users can proactively indulge in discussions with chatbots whenever they require assistance.
Chatbots delight every message interacted, or even verbally stated by the client and enforce it through the conventional language models to understand what the client said. This is results in a personalized experience for the client.
Once the chatbot comprehends the client’s expectation, the reaction coordination pathway decides the right response, considering data from various learning bases and CRM frameworks. The chatbot will also decide proper follow-up activities like approaching the client for a secret word post-exchange.
The future of the Internet
Voice is an obvious easier method of communication for humans than texting. It’s informal, intuitive and quick. This provides a natural flow to process during the interactions, perhaps giving more mobility to employees. It’s predicted that by the year 2020, 50% of searches will be voice-based. About every 1 in 5 teens plan to purchase a voice-enabled device within the next year. Hence, the demand for voice chatbots is increasing, while also satisfying customer’s needs at the same time.
Accenture’s Digital Consumer Survey in 2017 included 26,000 people from 26 countries. The survey found that 46% of US consumers are using “voice-enabled digital assistants”. These numbers were even higher in India and China — 55%.
If we break it down by age group, it shows more usage the younger users. More than 30% of teenagers between the ages of 14-17 use voice assistants regularly, with another 20% that have just started and 33% who seem interested. All in all, about 85% of teenagers are either using a voice assistant or at least plan to do so.
Why do consumers prefer voice?
Voice bots have easy integrations with other channels and data services. They also act as personal assistants today. They assist in simple tasks such as google searches, setting alarm, reminders, read messages, make phone calls, tell you the weather conditions and even keep you entertained with scripted chit-chats.
Voice chatbots increase customer insights
A voice-enabled chatbot increases the possibility of providing more reliable data insights to the customers. It helps in giving the exact real-time. It also helps improvise the customer experience with your brand.
Faster responses and zero wait period
We’re all in a rush in today’s world, especially customers. They have no time or patience to deal with a company and queries. Hence, optimizing a quick way of providing instant assistance is every customer support team’s goal. While most of the companies cannot afford to hire a ton of live agents to instantly respond to any chats initiated by the customer, they substitute them to voice agents, who do the job error-free and don’t go heavy on the company’s pockets. They provide immediate, contextual responses and are also available 24*7.
Helps expand your business
Businesses today are extensively using voice/messaging apps to expand and reach out to a larger audience on a personal level! Hence, with the growing scope of chatbots, even voice bots are going to get more normalized in business facilities.
Textual conversations can get boring
Maintaining a good customer relationship is important to every company in today’s competitive world. The biggest challenge in engaging customers only via texts is that it requires time, patience and can get boring after a point, resulting in an ultimate customer fall out. A simple text often lacks personalization, context, and emotions. This also leads to a lot of misinterpretation of the conversation. Voice gives highly automated, intelligence-driven business communication.
Increased productivity using multitasking
Voice-enabled chatbots help us in providing better customer service and immediate assistance for daily tasks. Excluding this, you can also integrate it with various apps, channels or digital devices to help enhance your office productivity. Voice-bots let you operate hands-free. Your customer or even you could be typing out an email or having a meal and still be able to receive assistance from the digital assistant.
You can also use voice bots for scheduling meetings with clients, write and send emails, set reminders, make calls and have Google searches and other research analytics ready to roll.
Better two-way interaction and customer experience
One thing about voice-bots, they can carry out a two-way conversation. Brands use voice-bots in their engagement and marketing strategies as this concept of talking to a robot is exciting and people are drawn towards it. It can create a positive sensation in people who interact with it. Adopting this technology makes way for a more integrated, pleasant and rich customer experience.
Can detect fraud
With the incredible capability of data mining and quantitative analysis of data, voice bots help in reducing the cost and data analytics helps in detecting the fraud. Voice-bots are a great way for businesses to use automation and connect with the world at the human level. Apart from this, voice-bots also specialize in emotion detection and posses multilingual qualities to accustom to every business need.
Half of all searches will be voice searches by 2020. The voice market will grow from $1.6 billion in 2015 to $15.8 billion in 2021.
- Forbes article on Voice Chatbots.
Thanks for reading. Happy botting!
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