We live in a world where our morning starts with " Hey Alexa or Hey Siri or Hey Google''. All these voice commands are more accurate than humans have ever been. The big players like Amazon, Apple, and Google who started with just small voice assistance systems have understood the need for voice recognition. That's the reason the future of voice assistants is stepping into the bigger world. Let's have a look at what the future of Speech and voice recognition holds for us.
The worldwide voice recognition market is supposed to increment by 16.8% somewhere in the range of 2021 and 2026. What does that resemble regarding dollars? As per the report, the market size in 2021 was $10.7 billion, and conjectures show it could develop to $27.16 billion by the end of 2026.
From Voice Recognition Assistants to Appliances
The world is aware of the power of speech and voice recognition innovation and they are expanding the horizon of voice recognition beyond the phones and other devices that we are using right now.
The companies like Amazon, Apple, and Google are already leading the world in voice assistance. Even though they are known as the trendsetter, the world is taking a step forward than just a voice assistant.
Various organizations out there are trying to implement voice recognition across different devices and appliances to convert them into smart machines such as smart locks, smart doors and many more that can enhance the security level and provide more opportunities for market growth.
Smarter Voice Recognition Technology
The speech and voice recognition market has witnessed the expansion of growth in the usage of voice recognition from mobile devices, laptops to smart speakers, smart TVs and so on. Nowadays voice recognition is not limited to just single language support.
The organizations out there are enhancing the smart voice recognition system to provide support in different languages and accents that users prefer to utilize.
Organizations around the globe are using various technologies such as Artificial intelligence
and machine learning
to enhance the working of speech and voice recognition. Even though speech and voice recognition has come this far, there is a long way to go for them as well.
The only reason for that is that people around the globe use different languages and dialects; not to mention the new words and slangs are the add-on trouble. But considering the growth rate, it won't be long before we will get the smart voice recognition which will be the closest version of the perfection.
Voice Assistance and Human Interaction
We all are about the fact that voice assistance is making our lives easier by following the task we order around or providing the information we need to know. But the global coronavirus pandemic discovered the new benefits of voice assistance.
The global pandemic put a pause on people, forcing them to stay at home and isolated. That was the time when most people around the world used to face loneliness and anxiety.
For various people out there voice assistance worked as a boon for them. It helped them to feel the void of human interaction and along with them it also helped them to enhance their communication, social networking skills and much more.
Along with that, the speech and voice assistance systems are handy for the elderly people who live alone reminding them to take their medicines on time, call their relatives and much more that can help them feel more connected to the real world.
At the starting phase of the voice assistant, people used to think that it would come at the cost of privacy risks. But on the other hand, voice assistance has put an enhanced security layer, especially for enterprise organizations.
Smart door access prohibits unauthorized persons to enter and access the office premises. Voice assistance has helped the organization to add efficiency that dramatically cuts expenses.
What Does the Future of Voice Assistants Look Like?
According to the report,
71% of buyers as of now favor voice search over manual composing since it is a lot quicker and furthermore permits them to perform multiple tasks.
However, as voice assistance becomes all the more impressive, simpler to utilize, and ready to understand the setting obviously better, more individuals will search and voice search and voice assistance for their day-to-day activities.
Sooner rather than later, voice assistance is likewise expected to play a more proactive job. Rather than waiting for the user commands, the voice assistant will gather all the necessary data and afterwards step up to the plate by making helpful suggestions to the users.
For instance, individuals can communicate with their vehicle voice assistance to get data about fuel levels, perform basic tasks, and service demands or required system changes.
So, for example, if you are driving for too long, the voice assistant will ask you to take a small break, relax and give some time for the car engine to cool down.
Also, in-vehicle voice assistance and recognition could be connected with IoT embedded smart home systems that will allow users to send voice commands like switch off the lights, turn on the door alarm system and various others.
Before long, voice assistance can likewise authenticate the purchases by perceiving a voice and recognising it to integrate the credit/debit card or bank account. Users can just send the voice commands to confirm the payment and it will reflect the changes directly to their bank account.
The voice assistance payment methods are rapidly filling in fame. While just around 8% of the all-over US population
used voice assistance for payment in 2017, that number rose to 24% in 2021.
Statista likewise predicts that more than 30% of the US population will utilize voice payments by 2022 because more and more people around the globe prefer contactless payment methods.
A few organizations are as yet reluctant to offer voice payment methods, expecting that it will attract more fraudsters. Regardless, an organization like HData Systems
prefers to utilize the voice biometrics solution here. As every voiceprint is novel and almost difficult to fake, voice assistance outfitted with voice biometrics innovation should not have any issues separating genuine account holders from fraudsters.
Q. Is Voice Recognition A Future?
Speech and voice recognition are not the future, but more like a present as various voice assistants like Siri, Google, and Alexa use voice recognition to fulfill their users' orders.
Q. Which Industries Can Benefit From Voice Recognition Technology?
Various sectors like Banking and finance
, manufacturing, entertainment and various others are already using speech and voice recognition for their everyday tasks.