According to Gartner Group, 75% of households will have a voice command system in place by 2020.
Additionally, IMS Research predicts 55% of all new vehicles will include Voice Recognition by 2019. That’s only 32 months and 17 months away, respectively. With over 18 million Echos and 11 million Google Homes in circulation already, there’s clearly demand for this capability.
A little more than 15 months ago Capital One became the first financial institution to offer an Alexa skill, with a handful of others following such as American Express, Virginia Credit Union, TD Ameritrade and USAA.
While financial institution adoption seems to be at a crawl, a number of solution providers have already incorporated banking related Alexa Skills into their offering such as NCR, Fiserv, Alkami and IBM.
Accuracy is certainly a key component to adoption. Natural Language Processing (NLP) has been around for decades with mixed results. You had to clearly define scripts for various scenarios. If something fell outside of those you were stuck. Voice is simply an input medium, but by incorporating Artificial Intelligence you can improve the accuracy and experience tremendously. With advances in AI from firms like Clinc and IBM’s Watson, it will continue to be perfected. Now you’re talking about doing away with the mouse and keyboard. A user is truly untethered.
So the question is, what are you doing about voice enabling your applications?