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3 Ways Businesses Can Use Speech Recognition

Even though our world is not as futuristic as sci-fi movies might have predicted, speech recognition technology and its real-world applications are still a step in the right direction. Slowly but surely, speech recognition has grown from a novelty feature into a viable application that is not just functional but also beneficial for small businesses.

While there’s still a lot of room for improvement, when used with AI and IoT, speech recognition can drastically help businesses in various areas. If you’re curious, the following are some effective ways that businesses are making use of speech recognition this year.

1. Ties in with Market Research

Businesses that are looking to expand into new markets or to just connect with their target market better can make use of speech recognition to gather more data and insight. With speech recognition it is possible to perform data mining based on key demographic factors and more.

Other areas where speech recognition can help collect data is to understand the emotion, speech patterns, sentiments, accents, language and age of the consumer better. With this factor, it gives businesses valuable insight that they can use to grow or improve their services.

2. Boosts Productivity and Lowers Cost

One of the best parts about using speech recognition software is that it has made self-dictation extremely easy. More businesses make use of transcription apps and tools that can be used to convert audio notes into text. Whether they want to write an email, take notes during a meeting or presentation or transcribe documents, speech recognition makes it easier to do so.

The best part is that transcription apps and tools are very inexpensive. They are also very user-friendly interfaces which makes them suited for use by people in any profession and level of expertise. Speech recognition when used in this manner can effectively help to improve the productivity of a person.

3. In Line with Market Changes

With the introduction of speech recognition through Apple’s Siri and Amazon’s Alexa, many users have made a prominent shift to voice-based searches and more. It is estimated that nearly 50% of all searches will be voice based in 2020 and this is a trend that is expected to grow. In the upcoming years, there will be a direct move to speech recognition and voice activated functions and features are going to be more popularly embraced.

By understanding speech recognition, a business can optimize their content with SEO that is based on voice based searches. As more people embrace new technology in this manner, the AI used for speech recognition also grows better over the years.  Businesses can benefit from optimizing their services now to accommodate the changes caused by this prediction.

Voice activated technology and speech recognition are both tools that can boost the productivity of the business and help it understand its target audience better while also streamlining their services. It’s a good idea to not dismiss this tool as a trendy feature and capitalize on the benefits that it has to offer.