AI Voice Agents
An AI voice agent is a software designed to understand spoken language, process it, and respond using natural-sounding speech. Essentially, it acts as a virtual assistant that interacts with users through voice instead of text.
The problem of manually speaking to a Customer Service Agent:
You make a call to your mobile service provider to resolve a billing issue. Historically, A real person as an agent picks up your call and tries to assist you in resolving that issue.
The problem here is the limitation of that agent's knowledge of the billing issue you are trying to solve. That real agent has to transfer the call to other real agents to resolve the issue.
Time taken to solve this issue = 1 hour to 20 hours based on the issue.
For example, the Time taken to solve similar issues for 100,000 customers = 100,000 hours to 2,000,000 hours in a few days. Moreover, for the company, the cost of 2,000,000 man hours; 2,000,000 man hours * $20/hr = $40,000,000
Solution as AI Voice Agents:
An AI Voice agent is trained on similar issues data and knows the answer instantly. AI Voice agent will transfer to real person agent if it can't solve the issue since it is still being trained on the right data.
Time taken to solve this issue = 10 minutes to 2 hours
Let's say, if a company has 1 million customers and 100,000 have issues, then it is a matter of satisfying 100,000 customers with the right solutions.
If you save 50% of man hours via AI Voice agent, then, the cost of saving 1,000,000 man hours; 1,000,000 man hours * $20/hr = $20,000,000. You will have to calculate customer satisfaction and retention costs as well.
Those 1 million customers can also do many things automatically such as making orders, cancellations, and payments, knowing the balance, and saving millions of hours of time on both ends, by speaking to a Virtual AI Voice Agent (Not a real person). A win-win tech solution with the right AI Voice agent technology.
Examples of AI Voice Agent Applications:
- Virtual Assistants: Alexa, Google Assistant, Siri, and Cortana.
- Customer Support: Automated voice systems for answering customer inquiries or directing calls.
- Accessibility Tools: Helping individuals with disabilities by enabling voice commands and responses.
- IoT and Smart Devices: Controlling smart home devices like lights, thermostats, or TVs through voice commands.
- Navigation Systems: Providing real-time directions and responding to spoken queries in vehicles.
- Voice Bots in Apps: AI agents integrated into apps for hands-free functionality (e.g., voice searches in apps like Spotify or YouTube).
Evolution of these AI voice agents:
These AI voice agents are not yet perfect for all the use cases due to the nature of data, time, and investment it requires to be perfect. But, they will be better at what they do as they continue to train with the right data in order to improve the accuracy.
