How Voice Bots are Leading the Automation?

People living in 2021 have seen exponential growth of voice-first powered virtual and digital assistants in the form of smartphone voice assistants like Siri, and Alexa of the Amazon Echo speaker range. To meet the demand of increased consumer expectations about the products, services, and to provide precise yet rich information, the world businesses have invested to implement the voice-powered chatbots into their existing ecosystem.

It is widely considered as the next big thing for the future of marketplaces, online transactions, and IoT products.

Tremendous Potential to Replace Customer Support Teams

Waiting for minutes and hours to get the right piece of information is far gone now. Gone are the days when we had to follow that long gatekeeper waiting or steps in order to get the information about a company, products, services, etc. The customers were also asked to provide personal information multiple times. In short, the old days were hectic for sure!!

As a result, the customer assistants also had to follow repetitive tasks for average inquiries. It obviously affects the productivity and also the company had to increase the strength in order to cover other tasks as well maintaining the attentiveness to the customers. What’s better than chatbots for such cases? Chatbot development is a cost-effective way for efficient information provisioning and customer service.

Chatbot Solutions are preferred for the following reasons:

• Chatbots can fetch or collect relevant information such as name, e-mail, issue, feedback, and inquiries and forward the query to the right agent. That saves time in finding the right person for help, much efficient than IVRs.
• Chatbots can manage multiple conversations simultaneously.
• Chatbot solution is simple to implement in the system and affordable too. Saves efforts and money in building a huge customer assistance team and training them.
• Custom chatbots can streamline the operations as well as information.
• Say “No” to waiting times in the queues as the chatbot solution is responsive. Users can have hands-on information 24/7.
• Chatbots do not need human intervention once programmed, tested, and installed. The human resources can focus on other objectives effectively.

We know that it’s a conversation users will performing with the machines, the robots. And chatbots can’t have an emotional thing as of now. However, using the information and provide the right information as and when needed can save huge time for both parties. So it’s a win-win situation.

Let us have a look at one particular domain, the financial transactions, and how two technologies (voice and chatbots) have completely changed the future.

Voice-Controlled Transaction is THE FUTURE of Automated Payments

In simple terms, a voice-controlled transaction is nothing but a user giving a voice command to complete a transaction leveraging a voice assistant. The computers and other systems are now better equipped to understand speech leveraging NLP technology and are now able to learn from contextual information for its application to future conversations using machine learning. Voice-controlled transactions across various voice-assistant devices such as Google’s Home, Apple’s Siri, and Amazon’s Alexa have started too in some regions around the world.

A lot of you would think of the security concerns of the technology when it comes to financial transactions. Well, the voice authentication system uses a person’s voice biometrics or patterns to identify who is speaking. It is something different than speech recognition so do not get confused with it. Speech recognition is about identifying what a person is saying.

Here, the authenticity of the right person is checked and verified in order to proceed with the transactions. The checks are based on various parameters like an individual’s dialect, frequency, style, and pitch and matching it against already-recognized patterns. Any mismatch or distortions will deny or lock the user access to all online transactions.

How About Voice-Controlled Automation and IoT Products?

As we grow more connected through voice-controlled systems like these and make more sophisticated voice-controlled assistants, we are opening up the likelihood of getting a limitless number of voice-controlled home devices. We have seen this on a little scale, such as voice-enabled smart lights, entertainment systems, and security systems, but large-scale implementation is yet to be seen. Down the line, it is a possibility that we jump from using voice-controlled assistants to manage the electronic gadgets in our homes using our own voice, a concept called Smart Homes. It is already implemented in the majority of the countries.

Due to the benefits and user-friendliness, chatbot development and integration in utility marketplaces like food delivery services and booking services become inevitable. Voice search and chatbots will help users to sort through the menus, book, or order what they need with voice-enabled payments. Everything without a single finger tap and in a matter of few minutes!!

IndiaNIC is an award-winning software development company that offers innovative Chatbot and Voice-enabled solutions for global startups, businesses, and enterprises. If you are looking for something similar, then contact our experts now!