Report: 62% of Organizations Use Voice Technology to Increase Revenue
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According to a new report from Deepgram and Opus Research, 77% of companies use voice technology to identify new business opportunities, and 62% use it to increase revenue.
Last year’s report looked at how companies of all sizes are leveraging automatic speech recognition (ASR)-based voice technologies to increase efficiency and productivity. As businesses increasingly recognize the inherent value of voice and the data it contains, the companies decided to expand the report’s focus beyond ASR to the wider industry. of voice technology to discover the motivations behind the use of voice technology within companies.
A big change from last year’s report is that voice technology has evolved from a cost-effective technology focused primarily on uses such as compliance to a revenue-generating tool that can open up new business opportunities. The report found that 77% of businesses use voice technology to identify new business opportunities, and 62% use it to increase revenue. To fuel this innovation, 75% of respondents plan to increase their voice technology budget in 2022, and 92% believe this will lead to widespread use of voice technology within five years.
Interestingly, 24% of respondents from companies with less than 500 employees believe that adoption could take longer, between five and ten years. This surprised us and can be attributed to large enterprises recognizing the immediate impact voice technology can have on their business through the automation of processes such as agent activation or customer experience with the Conversational AI, whereas small businesses that automate other use cases have less confidence. in short-term market adoption.
The report also confirmed that customer loyalty remains a priority for businesses in 2022. But this is harder to secure than ever, especially with unstructured data like audio, images and video which make up 90% of all available information. For example, 73% of respondents indicated that customer experience analysis was the most effective use of voice technology.
As opportunities multiply and the future of voice looms on the horizon, now is the time for businesses to invest in voice technology and prioritize it.
Deepgram and Opus surveyed 400 decision makers, from managers to C-suites, to uncover the top motivators for using voice technology in business.
Read the full Deepgram report.
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