Artificial intelligence has the power to simulate authentic human conversations, making real-life discussions more interactive and engaging.
While chatbots have been in existence for quite some time, AI voice assistants have emerged as a recent phenomenon that is gaining significant attention.
The speech recognition industry is projected to experience substantial growth, with an estimated increase from $10.7 billion in 2020 to $27.16 billion by 2025. These statistics highlight the growing popularity and widespread adoption of voice-based interactions facilitated by AI technology.
Back to Basics: What are Voice Assistants?
It is said that if you have a customer service team, you are bound to have a voice assistant integrated into the application and website to help its users navigate through the services.
Voicebot applications are expanding over time – Voicebots are not restricted to virtual voice assistants like Alexa, Siri, or Google Assistants.
A voice assistant is the most convenient technology for your user to make the conversations simple yet effective in real-time. They are certainly more than that. The use cases are increasing with the usage. As you can call it,
Working of the Algorithms
Natural language processing is the heart of their functionality, allowing them to recognize and interpret human conversations and their varied patterns through mixed responses.
Voice assistants with time constantly develop their algorithms using machine learning techniques, learning from millions of conversations in a quarter to offer increasingly human-like prompt responses with utmost accuracy.
Why Voice AI?
Using Voice AI-powered Genie Assistants is an extremely effective and scalable solution to automate potential lead qualifying, scoring, and nurturing. Before we go into how they can assist, let me explain what voice bots are and how they function.
Voice Assistants, which are powered by Voice AI, can speak with clients in a human-like manner in a variety of conversational styles, providing lingual support. The experience is incredibly engaging, capturing a customer’s whole intent and degree of interest. Voice bots will also let you reconnect with your existing customers. Without a doubt, they are a whole 10 on a scale of 1-10.
Unique Features
GenieVA is one of the best solutions for easy communication and rapid query resolution in Q3 2023 and beyond. Allowing the business to operate better and meet consumer expectations while also enhancing workflows.
Other distinguishing characteristics are as follows:
1. Advanced Speech Recognition- Our voice AI solution employs cutting-edge technology in speech recognition to accurately transcribe spoken words, enabling real-time interactions and analysis, with better understanding and correct speech analysis.
2. Natural Language Understanding- By utilizing sophisticated algorithms for natural language understanding, our solution comprehends user queries, intentions, and context, providing precise and contextually relevant responses.
3. Multi-lingual Support- Voice assistants are expanding their language capabilities, offering support for multiple languages and dialects. Additionally, they are becoming more versatile by supporting various interaction modes, including voice, and text interfaces.
4. Hyper-Personalization- Customize the Voice AI solution to match your brand voice and preferences, creating a distinctive and personalized user experience, and leading to more conversions in run-time.
5. Real-time Insights- Gain valuable insights into user interactions, sentiment analysis, and performance metrics through our comprehensive analytics dashboard, empowering you to make data-driven decisions.
6. Security & Scalability- Our solution prioritizes security, ensuring data privacy and protection at every stage. Moreover, it offers seamless scalability to accommodate your growing business requirements.
7. Text-to-Speech- This feature of a voice assistant converts a normal text in the form of an input, and convert it into an understandable human speech for easy understanding, in multiple languages transmitted to a customer during a call.
8. Intent Analysis- This is perhaps the most significant aspect. During a conversation, comprehension is crucial. Given this fundamental human paradox, a voicebot is able to derive the real intent, and respond accordingly.
9. Easy Integrations- Genie Voice Assistants interact seamlessly and simply with your technological stack and system. There is no need for extra plugins or changes to your architecture; simply Plug in and get started. This advances our technology and provides clients with a variety of benefits.
Introducing: Genie Voice Assistants
Genie Voice Assistant is an intelligent virtual companion that responds to voice instructions, performing a variety of tasks and offering useful information. These sophisticated voice-driven interfaces have developed to recognize and interpret human speech by utilizing natural language processing, making interactions more intuitive and seamless.
Industries Tapped
These voice assistants have become an integral part of our daily lives. However, these are not the sole capabilities of these AI-powered tools; voice bots have several applications across Contact Centers.?
Contact Center Automation
Genie Voice Assistants are dominating in the Contact Center Industry, and for a good reason.
We utilise voice AI and automation to give out-of-the-box values in the Contact Center Industry, such as:
i) Improving Customer Experience- The Virtual assistant powered by voice AI can assess the conversations in real time, providing personalised assistance, enabling them to provide context-aware assistance and a seamless, personalized experience across channels.
ii) Increase Operating efficiency- Automating their regular outbound calling processes. The bot performs outbound calls, checks customers’ data, asks pre-qualification questions, responds to their inquiries, and qualifies leads based on their responses.
iii) Drive Revenue Growth- Data is just data if not converted into Insights. By automating the outbound calls and processing it through the Voice assistants, sales funnel could be fuelled with hot leads to drive in more conversions.
iv) Reduce Compliance Risks- Voice assistants can play a crucial role in reducing compliance risk within contact centers by ensuring adherence to regulatory guidelines and internal policies. AI-powered voice assistants can monitor and analyze customer interactions in real time, flagging any potential compliance issues.
v) Strategic Decision Making- AI-driven voice assistants can generate valuable data that support strategic decision-making within contact centers. This information can help contact center managers and decision-makers understand customer preferences, pain points,develop targeted campaigns and improve overall operations.
Genie Voice assistants will be prevalent in a variety of industries by 2023, including insurance, finance, fintech, retail, utilities, eCommerce, healthcare, and many more.
Continue reading to learn how GenieVA’s work is altering numerous industries.
- Banking:
When starting a conversation with the bank, it is critical for a client to obtain all information connected to financial services such as loans, debts, accounts and other services, which can be delivered via a voice bot, increasing security measures and customer relations.
- Insurance & NBFC:
In the insurance industry, Genie voice assistants for insurance & NBFC can replace traditional ways of completing an insurance policy form, claims management, and debt recovery with a more quick and interactive procedure that allows a user to save time with voice assistants, ramping up the user journey.
- Retail & ECommerce:
Genie Retail assistants have the potential to simplify the user journey by allowing customers to easily sign in and make the purchase and check out. This can lower cart abandonment rates and make it easier for customers to buy on the move.
Advantages
Businesses can stay competitive, promote growth, and meet the changing demands of their consumers in today’s digital world by harnessing these benefits.
- Cost Savings: The business costs are reduced as the agents can handle repetitive tasks and large call volumes, even the seasonal surges, 100X faster than a human agent. This concurrency makes all the difference.
- Enhanced Efficiency: Businesses can handle customer inquiries and tasks quickly and accurately, leading to improved operational efficiency. By streamlining processes and reducing response times, businesses can achieve higher productivity and deliver better service to users.
- Tailored Responses: Voice assistants are programmed to provide personalized and crisp responses to customer queries. By analyzing customer data and preferences, voice assistants can deliver relevant and customized information, enhancing the overall customer experience.
- Convenience to Users: Voice assistants offer a hands-free and natural way for users to interact with businesses. Users can make inquiries, place orders, or seek assistance simply by using their voice, eliminating the need for manual input or navigating complex IVR Menus.
- Higher Conversions: By providing a personalized and frictionless experience, businesses can increase conversion rates and drive more sales.
- Customer Experience: Voice assistants contribute to an improved customer experience by providing prompt and accurate assistance. They can handle customer inquiries 24/7, ensuring round-the-clock support availability. Moreover, voice assistants can learn from user interactions, continuously improving their capabilities to deliver more satisfying and engaging experiences.
Currently Trending:
These trends demonstrate the continuous evolution and innovation happening in the field of voice assistants, as they strive to provide more intuitive, personalized, and secure experiences for users.
1. Pro-Active Support: Voice assistants are becoming more adept at understanding and providing pro-active solutions to the customers, to enhance the services and building a valuable experience.
2. Emotional Intelligence: Voice assistants are being designed to exhibit more empathetic and natural-sounding responses, just like a human would. Developers are incorporating emotional intelligence into the algorithms, allowing voice assistants to recognize and respond appropriately to users’ emotions.
3. Conversational Accuracy: They can better understand accents, dialects, and complex queries. Apart from this, the voice assistants are becoming proficient at handling- deviations, noises and errors, enhancing the conversational flow.
4. Tailored Persona: Users now have additional choices for customizing the voice, personality, and behavior of their voice assistant. Developers are working on capabilities that will let users select multiple voices, change speech patterns, and hyper-personalize the assistant’s replies to their preferences.
Integrations into our Technological Stack
Ultimately, the integration of voice assistants with Modern LLMs enables B2B organizations to unlock new growth opportunities, boost operational efficiency, and stay ahead in an increasingly competitive market.
Lets have a look at it in depth.
Generative AI & LLMs
Generative AI LLMs are at the foundation of our voice AI system, allowing it to interpret and synthesize human-like conversation. Using powerful machine learning algorithms, our system can create a speech that is nearly identical to a real human voice. This not only improves the user experience but also assures natural and engaging interactions with your customers or users.
Did You Know- The global market for Generative AI is expected to reach $188.62 billion by 2032, increasing at a 36.10% CAGR.
1. GPT-4
By combining the advanced natural language processing capabilities of voice assistants with the power of modern large language models like GPT-4 can understand and respond to complex queries, provide relevant insights, and facilitate dynamic interactions, ultimately enhancing customer satisfaction, increasing operational efficiency, and driving business growth in today’s AI-powered landscape.
2. BARD AI
BARD AI’s robust AI capabilities further augment client conversations by analyzing data, identifying patterns, and generating actionable insights for informed decision-making. The integration empowers businesses to deliver exceptional customer experiences, automate repetitive tasks, improve lead generation and qualification, and optimize sales and marketing strategies.
Challenges Solved:
1. Inbound Automation
In an inbound call center automation, voice assistants answer these calls, handle consumer inquiries, answer their questions, and route them to the appropriate person or department to resolve their problems if they are not entirely resolved by them. Inbound call centers are commonly used for the following purposes:
i) Call- Routing: With automation through Genie voice assistants, B2B companies can leverage Generative AI and intelligently route incoming calls to the most appropriate department or individual. Genie can understand and interpret the caller’s needs through NLP and route the call accordingly.
ii) Customer Service: Genie Assistant can act as a virtual representative, providing instant and accurate responses to customer queries. Also, based on their intelligence they can offer personalized support, or re-direct customers to the appropriate sales rep. This automation enables companies to handle a larger volume of customer inquiries efficiently, improving response times.
iii) Humans Hot Transfers: The beauty of this technology is the ability to route incoming calls to any other agent without dropping the call. Genie Assistant can determine that the client requires assistance from a different department or wishes to talk with a supervisor, the call can be sent accordingly. It is also feasible to automate forwarding based on agent availability.
iv) After-Sales Support: Being available even after the office timings, Genie Voice Agent can provide the technical support to customers with post-purchase queries, troubleshooting, product information, or any other support-related issues, reducing the human agents load.
2. Outbound Automation
i) Lead Qualification: To assess the quality and effectiveness of leads, voice assistants can ask qualifying questions and collect pertinent data. They also prioritize follow up actions for the sales professionals based on the lead scores allotted to the leads.
ii) Lead Verification: Voice assistants may validate lead information through real-time discussions and data quality checks. They can ask particular questions, authenticate contact information, and confirm the legitimacy of leads, limiting the possibility of sales teams wasting time and effort on false or incomplete information.
iii) Sales & Lead Generation: Through automated conversations, voice assistants may connect with potential prospects, collect pertinent information, and qualify them based on established criteria. This simplifies the lead generation process and guarantees a consistent approach to filling the sales funnel with AI-assured prospects.
iv) Data Validation: As the Generative AI & Multi LLMs function on clean and valid data, it is necessary to feed clean data in your CRM System. Voice Assistants ensure the lead qualityand dependability of lead information, reducing pitching and target mistakes by sales teams.
Future
But why do so many businesses start investing in this technology, and deploying it at a faster rate? Can it be FOMO? Maybe! Because AI is everywhere.
Or simply said, they are extremely useful and convenient to use.
Apart from that, the main reason is that voice assistant are just now beginning to reveal their full potential in terms of allowing you to go hands-free and stress-free in practically everything you do simply by utilizing voice commands.
Aside from the privacy concerns that these voice agents are addressing, voice assistants are projected to become more proactive in the near future. Rather than just waiting for user orders, assistants will collect context-specific knowledge from prior behavior and patterns and then present the user with hyper-personalized recommendations, giving B2B enterprises greater options for development.
Contact Us
People used to believe that voice assistant were solely employed to play music and create checklists.
With technological developments, it can now do much more, from answering questions to generating leads, from sign-in to check-out, the current upgrades are numerous, and you will be even more delighted once you experience the possibilities of our GenieVA.20
Schedule a Quick 30-Minute DEMO with our AI Experts to learn more about how your use cases are being solved.
