There’s no denying that speech recognition along with voice recognition made daily life more comfortable for everyone. Voice recognition allows AI to identify and decode human speech. Speech recognition, on the other hand, analyzes the delivery of speech patterns using Natural Language Processing (NLP). With these two technologies working together, prompt responses and immediate actions to your requests can be done without lifting a finger. Both speech recognition and voice recognition feed on high-quality, diverse, and large audio datasets to become more intelligent as days go by. These technologies are constantly evolving so that they can analyze wider varieties of data for AI-powered products. There are a number of ways to use voice and speech recognition for different businesses. In this article, we will discuss three innovative ways to use speech recognition for the business.

Three Innovative Speech Recognition Ways For Business

Innovation is relevant in business. With innovation, a business can move forward with its advancements and can serve its customers better. The application of speech recognition to different market niches has had a huge impact on the growth of small to big-scale businesses. Can you still imagine if Google did not have a voice assistant? We can’t! Speech recognition allowed businesses to serve their customers better by providing them easier access to data just by the power of speech. Speech recognition increased the overall efficiency of different businesses in telecommunications, marketing, transportation, shopping, and many more. To give you ideas on how you can apply and adapt speech recognition in your business, here are three innovative ways to use speech recognition.

1. Speech Recognition for Retail Shopping

Shopping is a leisure activity that everyone enjoys wherever around the globe. Before COVID-19 emerged, people would always go to the mall, boutiques, and even thrift markets to shop. The COVID-19 pandemic hit almost every country in the world and caused economic loss to several countries. Due to movement restrictions and health protocols, people are kept at home, and establishments have been forced to close in the meantime. Retail stores are having a tough time selling and gaining profit.  But what if you help your consumers shop while not having to lift a finger? Through several remote speech collections, terminology, and lexicon, speech recognition was able to store different data that are currently used by different smart home speakers such as Alexa and Google Home. Numbers of applications have been built to coordinate with these speakers to help consumers buy online using voice assistants. Speech recognition can help consumers find and check out the products that they want using their voices as commands.

2. Speech Recognition for Finance and Banking Systems

Banks and other financial institutions are starting to lean on speech recognition for voice assistive services. Researchers have conducted several data collections to achieve voice-based banking. Voice-based banking allows individuals to access and make changes to their accounts with the power of speech recognition. The potential in voice-based banking is rapidly growing since many industries are already leaning on voice and speech-activated systems to provide relevant information in their day-to-day activities. Voice-based banking can provide customers with a different conversational experience, more convenient solutions, hands-free transactions, and seamless online banking. It helps tailor a more personal experience for the customer without having to go out. Speech recognition in finance and banking systems allows people to feel much more safe and secure as they won’t have to touch anything, their account can be opened and closed through voice commands and they can enjoy banking in the comfort of their homes.

3. Speech Recognition for Day-to-Day Business Transactions

Speech recognition can also help organizations and businesses to automate their manual transacti