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Jun 1, 2021

Speech Recognition for Business Contact Centers

Speech Recognition for Business Contact Centers

Speech recognition has become an increasingly familiar term in the modern-day technological world. It has been dominating the technical business in contemporary times. All the voice recognition applications on smartphones and other smart technologies make use of speech recognition software. About 65% of smartphone users use voice assistants in 2015. Technology companies yield a great deal of profit through speech recognition.

 

This article provides all the essential information about speech recognition, including the benefits of speech recognition in modern-day technology.

 

What is speech recognition?

 

To answer this question, it is essential to know what function does it fulfill. Speech recognition, also known as speech-to-text, is a software program that makes it possible for a machine to recognize words spoken out loud and process them into a readable text format in the machine. With advancements in technology, more improved software is being designed to recognize natural speech and various accents and languages. Most modern electronic devices have speech recognition functions in them to allow easier use of hands-free devices. Some of the popular voice assistants owned by various companies that work on speech recognition technology include: Google Assistant, Alexa, and Siri.

 

How does speech recognition work?

 

Speech recognition makes use of algorithms via acoustic and language modeling. Acoustic modeling refers to the link between linguistic units of speech and audio responses. And language modeling identifies matching sounds with word patterns to differentiate between various other words that sound similar. Sophisticated speech recognition software that uses AI and machine language will use accurate grammar, syntax, and structure to process the speech. Hence, the recognition of accents will be easier for speech recognition technology.

 

Pros and cons of speech recognition technology

 

There are both pros and cons of speech recognition. To begin with, the advantages provided by speech recognition are:

 

Pros

  • Speech recognition can use capture speech much faster than a human agent.
  • Speech recognition comes in handy for those who have speech or visual impairment. With this tool, customers can resolve issues without the involvement of any human agent.

Cons

  • Speech recognition cannot recognize the words because of various pronunciations, lack of awareness of specific languages, and background noises.
  • Specific speech recognition software is prolonged to process speech.
     

Speech recognition in customer service

 

Speech recognition lets contact centers capture all the voice data captured in voice recordings which helps human agents to enhance their customer experience. Speech recognition can transcribe calls in real-time as well as previous calls directly to their dashboard. The accessibility to customer interaction history substantially accelerates the improvement of resolution time for the contact centers. How does speech recognition work in our everyday life is essential to understand. Speech recognition is used to perform tasks on our smartphones, change lighting, put on our favorite shows on Youtube, and play desired music without any physical interaction. They are used in healthcare, legal systems, and customer service. 

Speech recognition is used in offering services in contact centers. Customer care service can use Interactive Voice Technology (IVR) to understand their customers better regardless of their accents, background noise, or grammar and respond to them more intently and provide extensive professional help by connecting them to experts. It is used for multiple call handling. [24]7.ai is the ultimate solution in providing call automation services to customers.

Contact centers in the financial industry need to respond quickly, especially for sensitive matters like fraud or false identity. And with cybercrimes on the rise, financial services are found turning toward speech recognition to better combat such issues. Speech recognition has proven to be an effective tool in securing financial customer data. 

 

Conclusion

 

Speech recognition technology has come a long way. It has created massive competition among several business giants such as Apple, Amazon, and Google. These companies own their personal speech recognition voice assistants, allowing them to reap huge sales profits. Almost every modern technological device is equipped with speech recognition software. They have made our life much easier and has revolutionized the technological world.

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