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Speech Recognition Already Moving Quickly in Many Industries, According to New Allied Business Intelligence Study
URL(s): www.alliedworld.com
OYSTER BAY, N.Y., Oct. 1, 2001--Speech recognition is no longer a "futuristic" technology; it has already been
implemented in many industries with success, according to a new report from Allied Business Intelligence (ABI).
Today, robust systems and tools have developed to support and enhance key applications in the emerging Internet/Intranet-centric world, according
to the study, "Voice Recognition Systems: Wireline and Wireless Applications and Enablers".
Currently, the telecommunications, Internet and e-commerce, financial, medical, electronic, and the Defense and Military industries are already
applying speech recognition technologies and applications to decrease overall costs and customer churn, and increase efficiency.
Voice portals, a growing target segment of the speech recognition industry, will provide easier content access and services to wireline and to mobile
wireless users. "Voice portals will play the role of the doors to the Internet and corporate Intranets as the market realizes their value proposition for
consumer as well as enterprise usage," said ABI senior analyst and report author Anna Karampahtsis. "Although implementations have been primarily
by wireless carriers and travel and financial industries, a plethora of other sectors will soon follow the same paradigm."
More advanced and more robust speech/voice systems, new Standards like VoiceXML, expansion of the global wireless subscriber base and
wireless phone use, and Internet connectivity will drive the growth of the industry. According to findings in the new study, by the end of 2006 there will
be close to 291 million voice portal users. These users will vary by their frequency of use, and those implementing voice strategies must understand the
distinctions between the groups. Of the 291 million, 25% will be infrequent users, 40% will be frequent and 35% will be habitual users of voice portals.
VoiceXML, the standard allowing voice access of Internet content, has allowed voice commerce to emerge. Users will be able to make purchases
and transactions by using just their voice. Speech authentication/verification technologies will allow voice commerce to be secure and profitable.
The report examines the current industry status, considering generic needs, trends, adoption rates, technologies, target industries, major participant's
business/revenue models, and global forecasts. Implications upon applications such as voice advertising, call center processing, location-based services,
VoIP, and the impact upon the translation market are covered as well.
Allied Business Intelligence Inc. is an Oyster Bay, NY-based technology research think tank publishing strategic research on emerging technologies.
Details can be found at www.alliedworld.com or by calling 516-624-3113.
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