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The True Power of Speech Technology Today

By June 5, 2018September 4th, 2021No Comments

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In the recent years, speech and voice recognition technology has evolved into a powerful, dynamic and insightful tool for expanding businesses. Just a few years ago companies and organizations struggled to find methods of understanding key customers and how people perceived their product or service offerings; the flame of competition fueling their drive to learn more.

Today, any organization can benefit from specialized, powerful speech recognition technology to improve business performance and capture customer data.

A (Very) Brief History of Speech Tech

The first proposed model of speech analysis technology emerged in the early 1930’s, and gained more widespread attention with the production of Science Fiction / Artificial Intelligence films in the 60’s and 70’s (i.e. 2001: A Space Odyssey). In the early 1950’s, Bell Laboratories made the first basic steps toward speech recognition; ten years later, IBM produced the world’s first “Shoebox” machine that could recognize only a few words at a time.

Between the 1950’s and 1980’s, speech technology progressed from simplest of machines that could understand only digits, into more complex platforms that could identify – and even learn from – voice, sound patterns and vocabulary. Companies, government entities, and various other organizations were beginning to take notice of the possibilities.

Advanced Speech Technology Today

Today, voice technologies have come a very long way, and continues to grow in corporate communities as more valuable benefits and use cases arise. In a recent study performed by Narrative Science, 44% of business executives believe that the technology’s most important benefit is “automated communications that provide data that can be used to make decisions.”

A Gartner study showed that by the year 2018, “customer digital assistants” will be able to effectively recognize customers and clients by their faces and voices, and by 2020 up to 85% of customer interactions will be managed without a human at all. These recent statistics show the real relevance and importance of this evolving technology, and its many hugely beneficial results.

Big Benefits for Big Business

TranscribeMe’s Speech Recognition and data mining technology solutions help deliver accurate, actionable information through speech-to-text, customer voice metadata and more. There are many amazing benefits for businesses and contact centers utilizing voice technology, such as:

You can learn more about how TranscribeMe’s speech technology solutions can improve your business by visiting our website, or click below to contact us today.