The role of ASR in voice bots: Revolutionizing customer interaction through real-time recognition

This fast-paced business world belongs to the forward thinking organisations that prioritise innovation and fully embracing the change. This involves adapting the latest tech advancements and go the extra mile in supporting their customers. AI-powered voice agents offer a plausible solution for organisations to achieve the same. The ability to work round the clock, without fatigue or mistakes, already makes voice bots a reliable addition to a company’s growth and expansion wing. However, a key enabler of this technology is Automatic Speech Recognition (ASR).

Simply put, ASR is the backbone of AI-powered voice bots. In essence, it brings the “voice” aspect to customer engagements, converting spoken language into text.

Understanding ASR: The Force behind the Revolution

Simply put, ASR is the backbone of AI-powered voice bots. In essence, it brings the “voice” aspect to customer engagements, converting spoken language into text. This gives voice bots an ability to comprehend human speech, with amazing levels of accuracy. ASR leverages the latest advancements in machine learning, natural language processing, and other advanced algorithms to discern spoken word and convert it to text. With this, ASR allows voice bots to have engaging conversations with customers and that too, in a language and dialect that they understand best. This technology is revolutionising voice bot applications, especially in sectors like health, finance, education, and customer services.

ASR: Gaining Rapid Adoption

The industry-wide growing need for automation has given a significant push to the adoption of ASR technology. As per MarketsandMarkets, the global market for speech and voice recognition is projected to be worth USD 28.3 billion by 2026, with its prime drivers being smart devices and contactless interactions. Equipping voice bots with ASR tech will allow businesses to offer complete spectrum of customer engagement and support, on the go.

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More importantly, ASR tech presents businesses with the easiest way to scale up their operations, whilst avoiding the huge overheads involved. Take India as an example, a land of 19,500 spoken languages and dialects. An ASR model customised for a linguistically rich country like India will be able to support Hindi, English, and our unique blend – Hinglish, thus making customer interactions more interactive and engaging.

Optimised Customer Service with Real-Time Recognition

One of the most powerful features of ASR technology is its real-time monitoring ability. By recognising and responding in real-time, it can greatly enhance customer interactions. Furthermore, it is of great importance in industries like healthcare, finance, retail etc., with significant need for accuracy in real-time.

A recent report by PwC signals at a strong customer demand for ASR-enabled solutions. As per the remote, 71% of consumers reportedly have a preference for voice-based interactions over texting.

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Through ASR, businesses can not only optimise existing use cases but also give rise to new solutions for complete customer support. For instance, in healthcare, voice bots equipped with ASR can significantly reduce the admin work, help in patient scheduling, monitoring, transcriptions etc. In finance, the same can offer secured voice authentication, answer queries, and streamline transactions. In retail and e-commerce, ASR can enable personalised support in real-time, helping with order generation and product recommendations.

Achieving accuracy with the ASR technology is the key to success in the next wave of automation-led growth. Some of the emerging technologies in India have reached high accuracy levels – in certain instances, as high as 93%. With these innovations, ambitious enterprises of that have a reliable way to stay regionally relevant and achieve scale.