Speech AI Provides Numerous Solutions to the Industrial Sector

By Shubhendra Anand , 19 October, 2023

Artificial intelligence has positively transformed the lives of individuals. The new trend of integrating artificial intelligence into the business facilitates the industry's financial, technical, and other works. Speech artificial intelligence (AI) helps to converse with customers to provide them with services and insights into the industry in 2023. Several startups in 2023 have embarked into the sector with Speech AI; Contiinex is one of the well-known speech AI startups to have raised USD 2 million in a pre-series A round from two venture fund houses in 2023.

Speech AI provides efficient solutions with easier usage to customers, thus making technological advances more convenient for consumers. With growing technological advancements, interactions between the consumers and the service providers have increased tremendously. The fastest-growing technical industries are also advancing at such a rate that personalized communications between users have increased exponentially. Based on a survey by Salesforce, 83 percent of consumers hope for immediate assistance from the company, followed by 73 percent of users who want companies to fulfill their expectations. Meanwhile, 60 percent of consumers avoid customer service and tend to solve their issues with self-service features. Thus, speech AI helps in a better solution to meet user's expectations in the industries. Speech AI can solve service-related problems through smooth consumer interaction for payment and banking. Nvidia supported customer interaction by integrating speech AI and processing financial data, risk management, and fraud detection, among other features, in 2023. Also, the company suggests that customer interaction services can be improved with artificial intelligence voice assistants well equipped with financial keywords.

Similarly, speech AI can be used in the telecommunications and healthcare industries. In telecommunications speech, AI can be induced in the 5G infrastructure to meet the competition and achieve profitable returns on specific networks with promising returns. In the healthcare industry, speech AI can speed up the process of digitalization. By incorporating speech AI in the healthcare industry, healthcare providers can help customers with digital assistants that can ease up the work by 50 percent- by taking information, organizing the patient's medical history, extracting doctor-patient clinical discussion, and others. The technology can reduce the manual note-taking process that takes longer. It can also enhance the no-touch checkup procedure in the healthcare industry when the situation demands it.

Thus, the newly found Contiinex can increase efficiency in the United States industrial market with its ability to enhance customer service, increase productivity, and identify and analyze voice files, among others. Thus, speech AI in the business is helping to grow the sector, providing specific services to its customers while also reducing the workload of the service providers.