This Transformation in The Digital World is Changing the Way Business is Done
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In this era of technological advancements, the tech-savvy business-heads are relying on these digital transformations to build their empires. With the increasing digital challenges, we are constantly upgrading ourselves to newer devices working round the clock without using our hands, at times by a mere voice command too(How interesting is that!) However, such devices have their own restrictions and need to be connected to our smartphones for easy access.
To ensure a smoother experience for us, we were introduced to the concept of voice-based command through voice assistants like Siri and Cortana in the last decade. These AI equipped voice assistants have been successful in making 'screenless' experience a reality. This trend has been widely accepted by major regions of Northern America and a number of progressing countries are following their footsteps.
According to Forbes, more than half of the businesses out there are not technologically advanced, as they are mainly focusing on 'social security' which the digital transformations imbibe, but not realizing the fact that it is in fact, a mere add-on and it’s true potential lies in exponential business growth.
The last two decades have been crucial in the development of wearables, as we have moved on from massive desktop computers to smart AI equipped wearables.
AI Progression in Real Time
AI has managed to secure its place in the screen-free evolution by mixing various AI cognitive APIs. With these transformations, vision, sense, voice, haptic and other innovative interactions now contribute to digital transformations.
This data is stored across the digital devices with the help of Big Data Technologies and then analyzed using the analytics’ software to help generate revenue. Thus, AI evolution is backed up by machine learning, human knowledge, and knowledge APIs is adding versatility to the businesses and tremendously outgrowing various forms of digital transformations.
Putting this in a nutshell, digital transformation has enabled us to collect immense consumer data using Consumer AI. Now, with our improved Agile Methodology, we can develop faster prototypes using developed AI concepts.
Thus, we have laid the foundation of Enterprise AI by integrating it with existing core ERP, CRM, and similar enterprise systems.
Business Data on the tip of the Tongue
Our modern devices including smart mobiles, wearable devices, or IoT components can participate in access, analysis, interpretations, and make vital decisions based on the business data that we collect using different digital devices.
Recently, Dickey’s Barbecue Pit tied knots with iOLAP to transform the enterprise AI capabilities to screen less voice-based business solutions and Alexa voice application. Dickey’s unique application enables its business partners or admin users to access the real-time business data irrespective of their location and smart digital devices they use, simply with voice commands or interactions.
“Dickey’s app" is the perfect example of easing out user engagement through the digital transformation for the ever-expanding retail industries such as restaurants.
The emergence of Voice Commerce
With Dickey's app into the market, the Voice Commerce Industry is booming with innovative applications which can be used to promote your business.
For instance, Dickey’s barbeque application uses unique barbecue vocabulary to cut the training time to AI systems. Alexa has developed an app for the smartphone users - inclusive of 15,000 skills which helps Alexa voice answer any questions regarding any business niche or online product sales.
Voice commerce application developers have been using Amazon Alexa to create high-end applications for business lead generation. Several retail businesses including grocery stores, fashion e-commerce, digital gadgets online shops, games & entertainment hubs and e-commerce shops are hiring a software development company to develop voice commerce apps with integrated ‘product related voice suggestion’ to increase their sales.
According to a popular survey, voice shopping can boost virtual sales up to $40 billion by 2022.
Check Out How an Alexa Skill Can Boost Your Business in 2019.
Given data indicates that the voice accuracy level achieved by Google and others may translate into high voice commerce activities in the coming
ROI of Voice Commerce Application Development
In the animal world, vocal communication is the best way of expressing your state of mind. Keeping up with this basic rule of nature, the digital age is gradually progressing towards voice-enabled applications, powered by AI technology. The rise of voice search, heavy reliance on voice assistants, and increased tendencies of voice-based shopping are accurate indicators of the emergence of voice-based commercial applications.
⦁ Recently, Amazon sold AI-powered Echo units worth of 5.1 million within a span of two years only!
⦁ Early adopter brands are redesigning their websites by taking voice-first design approaches right from search to purchase and payment of products. These brands are hoping for a 30% increase in revenue!
Wrapping It Up
It is evident that that voice commerce industry is the future, but the journey includes a lot of obstacles and challenges to be conquered. The important part for entrepreneurs is to amp up their game and embrace these technologies.
The future challenges include:
Developing a Voice User Interface (VUI):
A daunting factor against GUI is the need to develop a voice user interface as the testing process is completely different. Consistent advancements in speech recognition technologies are posing challenges for voice commerce app development.
Recently, the PS team developed an application leveraging AI-based voice technologies for a large retail enterprise in the Caribbean region.
They created a POC that involves consumer engagement. This app shares the details of all the upcoming weddings in the Caribbean region.
Fun-fact: Alexa captures the upcoming wedding details and gift expectations of the couple and announces it to the guests listed in the wedding-list
The application thus helps the guests to choose the right set of gifts to bless the couple saving their time and energy, and also benefits the retail store chains. This is a classic example of next-gen marketing using voice commerce.
If you are an innovator and have any new ideas or concepts using voice commerce industry, you can let us know through the comments below!