A mere handful of years back, you would’ve thought that typing and exchanging emails or text messages was as hi-tech as life could get, but voice technology has made its grand come-back as the latest technological game-changer. We should have seen this coming with the likes of Siri, Alexa, and WhatsApp audio notes. But how did we get here?
Simply put, speaking is a much faster and more natural means of communication. With technology, it all comes down to making the most of time and maximizing efficiency in the way we communicate – both of which are key components of good user experience. Good user experience equates to optimal functionality, increased uptake and, better business overall.
While tackling speech recognition is an incredibly complex task due to the highly subjective nature of the medium, the rise in AI and machine learning in combination with human agents makes for the ultimate dream team. Speech recognition already has years of experience on the market with audio-to-text technology that voice search is, in fact, the next logical step to take as we move into the future.
Here are some interesting statistics and facts about audio-to-text in 2019:
1. Text takes up much less bandwidth than audio.
2. Video with text increases engagement.
3. Audio-to-text is cheaper than video-to-text.
4. Video transcription improves SEO.
5. By 2020, some 30% of all searches will be done without a screen.
6. Transcription services are cheaper than ever before.
7. It takes 5-10 times the duration of a video to caption it on your own.
8. A low-quality audio file increases transcription turnaround time.
9. Automated transcription works best with simpler audio files.
10. Human-assisted transcription is most suited to more complex speech.
11. The speech recognition industry is expected to more than triple by 2022 (from a current $4 billion to around $12 billion).
12. More companies are investing in online videos which require captions to reach the widest audience possible.
13. As businesses are increasingly expanding into foreign markets, transcriptionists who speak more than one language will be incredibly valuable.
14. Microsoft will soon automatically transcribe video files in OneDrive for Office 365 subscribers.
15. Social videos generate 1200% more shares than text and images combined.
16. 85% of Facebook video are watched without sound.
17. This year, voice-enabled apps will not just understand what we are saying, but how we are saying it as well as the context in a query made.
18. Last year, there were one billion voice searches per month.
19. Voice search devices, such as Amazon Echo or Google Home, are estimated to become a $601 million industry.
20. 50% of all search will be using voice by 2020.
It is clear to see that this speech technology trend is here to stay and set to grow. There has never been a better time to get started with implementing it into your business operations to reap the many benefits it offers. TranscribeMe provides a variety of services including transcription services for audio and video files, automated speech recognition and translation to different languages for audio and text that will help catapult your enterprise into the future. All this with high accuracy, timeliness, and competitive prices. Contact a representative for more information today!