Feb 18, 2021
Whenever you hear Voice bot, the first thing that comes to your mind is Siri, Alexa, or Ok Google. These are the most convenient voice-powered tools that have become a huge part of our day-to-day life.
In 2022 we will see the rise of AI chatbots and voicebots in various verticals like insurance, banking, fintech, retail, utilities, eCommerce, healthcare, and many more.
So what is a voicebot? how do they work? and all the other questions that pop up regarding voice ai, voice searches, voice assistants, speech bots and voice chatbots will get answered in this blog.
Voicebot is a voice interface that enables humans to talk with machines (computers) in natural, human language. It has underlying technologies such as NLP, machine learning, ASR(automatic speech recognition), and TTS (Text to Speech).
When the user speaks something, ASR converts the speech into text and the converted text is understood through NLP (natural language processing). Then the appropriate answer is formulated and converted into speech using TTS.
With time, the application of Voicebots is increasing - Voicebots are not limited to just virtual voice assistants, such as Alexa, Siri, or Google Assistants.
Some contact centers, for instance, have deployed Voicebots instead of human agents to have conversations with customers. Unlike IVRs, the customers can talk in natural, human language instead of pressing keys.
The most popular type of voice bots currently are:
AI Voice chatbot integrated with the contact center uses AI-based 2-way conversational voice as a medium to communicate with the customer. It can automate inbound and outbound calls without any human intervention. It can also transfer the call to a human agent upon the customer’s request or book an appointment with them.
Use Cases of Inbound Calls
Use Cases of Outbound Calls
Whatsapp allows users to send voice inputs or voice commands to the bot. If the Floatbot platform detects Voice AI-based input, then the bot will answer with Voice + Chat reply in the text as well as voice form.
A chatbot with voice AI is a chatbot that can accept voice as input. The user can use the microphone option available to ask their queries and the bot can reply in chat+/voice form as required by the user. Floatbot allows voice-based input with streaming. The benefit of Chatbot is it can act as Voice AI-based virtual assistant and can give replies in a chat-based rich format as well as voice.
Voice AI-based smart assistants work purely with voice. The response from this bot is always voice-based. Amazon Echo and Google Homes are examples of Voice AI-based Smart Assistants. The introduction of such voice AI-based assistants extended the reach of communication that was limited to mobile devices once. Bot developed in Floatbot platform can real-time integrate with smart assistants such as Amazon Echo and Google Home.
Like chatbots are evolving, so are voicebots. Voice bots eliminate the barrier between languages and smart-phone or any smart device such as a tablet or computer. Voicebots can be operated with the simplest phone with any network connection. Hence, a Voice bot has become one of the preferred ways to communicate in the current era. Voicebots are easy to interact even for the older generation.
Research tells us that consumers will be voting with their wallets in favour of voice assistants over other channels- in three years, active users of voice assistants expect 18% of their total expenditure to take place by voice assistants.
Voice chatbot makes your product easy to use and easy to buy by providing information and the convenience to interact in natural voice language.
The major trend we are going to see in 2022 is the combination of voice and chat as one conversational AI product.
Voicebots can understand natural language and communicate with users via voice. A Voice bot can listen to and understand the commands given by the user and responds with the relevant answer without human intervention.
Speech to Text
The Speech to the text module converts the natural speech to text even in noisy environments. Typically, the Speech to Text module is developed with end-to-end deep learning-based speech recognition. It can recognize and understand different accents and languages.
Text to Speech
The TTS (Text to speech) module can generate human speech from text input.
Voice bots are layered with an NLP engine to create human-like conversations. The bot can understand all possible questions, words, and sentences that the user speaks. Customers can talk freely with the bot instead of giving yes or no responses. The bot can identify the intent of the customer’s commands/requests and respond instantly with the appropriate reply.
The AI Voice bot can recognize the language and dialect of the user and seamlessly switch to the language used by the user. This will ensure that there is no language barrier and that the customer can talk freely with the bot.
The Voice bot auto learns from the user’s data and queries. It uses deep learning and machine learning-based modules to self-learn from the available user queries and add to its’ knowledge base.
Bot interruption technology
The bot interruption technology helps the Voicebot to respond to unexpected user interruptions during ongoing conversations. When the user interrupts in-between the conversation, the bot will stop speaking, listen to what the user is saying and respond accordingly.
Answering Machine Detection
The AI-powered voice bot can easily identify whether the call is picked up by a human or an answering machine. The bot will automatically hang up the call if the answering machine is detected.
Voice bots can become very useful for businesses as they can save the time required for customer service. Below listed are a few applications of AI voicebots in improving customer experience.
Automate Customer Support
A voice bot can automate thousands of inbound and outbound calls. A single bot can converse with multiple customers giving a personalized answer to each one. Thus reducing customer support costs.
Increase Digital Sales
Voice bots can engage and guide your customers through personalized conversations. They can generate leads, qualify leads, schedule meetings, promote a new product, and increase engagement and digital sales by 200%.
Floatbot provides a no-code, SaaS-based Voice AI platform that helps you build and deploy AI-Powered Voicebots and Chatbots without coding. We are a world-leading provider of contact center automation solutions. Our expertise lies in the BFSI sector - we help banks, insurers, and FIs increase digital sales of financial products, automate customer support and claims FNOL, and increase customer satisfaction (CSAT) scores. We also provide deep tech ASR and Voice Biometrics solutions.
To know more, please contact us at email@example.com, and our team of experts will connect with you.