Google has monetized every mouse click, and the same happens with voice. Advertisers have found that speak-through conversion rates are higher than click-through conversation rates. Brands must begin developing voice strategies to reach customers — or risk being left behind. Voice tech adoption was already on the rise, but with most of the world under lockdown protocol during the COVID-19 pandemic, adoption is set to skyrocket. According to Insider Intelligence, nearly 40% of internet users in the U.S. will use smart speakers at least monthly in 2020. Yet, several fundamental technology barriers are keeping us from reaching the full potential of the technology.
The steep climb to commercializing voice
By the end of 2020, worldwide shipments of wearable devices rose 27.2% to 153.5 million from a year earlier. Still, despite all the progress made in voice technologies and their integration into many end-user devices, they are limited mainly to simple tasks. That is finally starting to change as consumers demand more from these interactions, and voice becomes a more virtual interface. In 2018, in-car shoppers spent $230 billion to order food, coffee, groceries, or items to pick up at a store. The auto industry is one of the earliest adopters of voice AI. Still, it must become a more seamless, truly hands-free experience to capture voice technology’s true potential. Ambient car noise still muddies the signal enough to keep users tethered to phone use.
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