Posted on: 18/05/2022
Research from Red Box and Censuswide finds that 97 percent of business leaders plan to increase the capture of internal and external conversation data in the next two to five years.
According to this research, leaders see AI as more effective than humans in business use cases including problem solving (39 percent), understanding emotion or sentiment in conversation (38 percent), and understanding accents and regional dialects (42 percent).
However, while business leaders are aware of the use cases of conversational AI and 31 percent reported gaining insights after accessing conversational data, between 40 and 50 percent reported they were not currently being used by their organization.
Conducted in partnership with Censuswide, the research aims to explore why and how machines are learning the art of human conversation in enterprise organisations and provide a glimpse at businesses’ future plans for utilising voice data.
Three other main findings of the research include:
• For organisations already using voice data, compliance was the highest use case at 31 percent, with other use cases including making customer support more efficient (29 percent) and optimising sales performance (28 percent)
• Managers believe AI will cause improved retention (40 percent) and more productivity (39 percent) within their organisations
• The main roadblock cited to accessing conversational data in the US is compressed audio data (37.33 percent) and in both the US and UK it is audio data not being available in stereo format (37.08 percent)
“Voice data is the key to unlocking the insights that will drive enterprises forward now and in the future,”
said Richard Stevenson, CEO, Red Box.
“Through the power of voice, enterprises are already seeing use cases that are addressing key internal and external processes such as providing customer service agents with information and assistance, as well as enhancing the customer experience by identifying pain points and expediting various processes.”
For the future of conversational AI, the research indicates that 47 percent of business leaders believe that it is inevitable for AI to be able to listen similar to or better than humans, and 41 percent believe it already can – pointing to the plans of many organizations to increase the capture of internal/external conversations in the next two to five years.
“Now is the time for business leaders to put their plans for voice data into action,”
stated Pete Ellis, Chief Product Officer of Red Box.
“Conversations contain critical information that must be used to inform an enterpriser’s decision-making, and as voice AI continues to see adoption across industries, access to and the utilisation of voice data will be a deciding factor of any business trying to reach and exceed its goals.”
Working alongside global research partner, Censuswide, Red Box surveyed 801 business leaders to find out how they are using AI to listen within their businesses. The results, which include insight from 501 US business leaders and 300 from the UK, were collected in April 2022.