Report: 62% of orgs use voice technology to increase revenue

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According to a new report from Deepgram and Opus Research, 77% of companies are using voice technology to identify new business opportunities, and 62% are using it to increase revenue.

Last year’s report examined how companies of all sizes took advantage of voice technology built on automatic speech recognition (ASR) to increase efficiency and productivity. As businesses increasingly recognize the intrinsic value of voice and the data they have, companies are determined to expand the report’s focus across the speech technology industry in addition to ASR to find motivations for businesses to use voice technology.

One major change from last year’s report is that voice technology has moved beyond cost-saving technology, focusing primarily on uses such as compliance with revenue-generating tools that could open up new business opportunities. The report found that 77% of companies were using voice technology to identify new business opportunities, and 62% were using it to increase revenue. To promote this innovation, 75% plan to increase their speech technology budgets by 2022, and 92% believe that this will make extensive use of voice technology in five years.

Interestingly, 24% of companies with less than 500 employees believe that adoption can take five to ten years. This may surprise us and be attributed to the fact that large organizations recognize the impact of voice technology on their business through automated processes such as agent competence or customer experience with AI, while smaller companies that are automating other use cases Confidence is low. In the near term market adoption.

The report also confirms that customer loyalty for companies will continue to be at an all-time high in 2022. But this is more challenging than ever, especially with unstructured data such as audio, images and video which make up 90% of the available Intel. As such, 73% of reported customer experience analysis as the most impressive use of speech technology.

With growing opportunities and a broader voice-enabled future on the horizon, now is the time for an enterprise to invest in and prioritize voice technology.

Deepgram and Ops surveyed 400 decision makers ranging from managers to C-suites to highlight key drivers for the use of speech technology in enterprise companies.

Read the full report via Deepgram.

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