Voice AI/Automation has been gaining traction in markets across globe and specially in India. The technology promises to enable enterprises to accomplish mundane/routine tasks in less time with negligible human intervention. Innovative technologies like Voice AI have been adopted by enterprise in their contact centers and is fast becoming a norm. So much so that according to Gartner, by the year 2022 30% of customer service experiences will be handled by conversational (voice) agents, up from merely 3% in 2017.
According to Pindrop Pulse Flash Report, in the early stages of the pandemic, call volumes to enterprise call centers climbed 300% in just days and by the later stages call volumes to enterprise contact centers jumped over 1000% from normal levels. Also, agent call capacity dropped by 20% although call centers were able to restore nearly 50% of lost capacity. However, customer contact centers are still seeing a 12% decline from pre-COVID levels.
In India, only a little over 10% of the population speaks some form of English, and even the dialects and accents in the local languages are quite comprehensive, a significant portion of customers are also known to be bi-lingual.
This is where companies like Vernacular.ai come in picture to solve many complex problems including recognising everything from the accent, speed, age, gender, region, dialect, etc. The company, since its inception, is consistently automating speech to make customers feel comfortable while interacting with the system.
With the recent Series A investment of $5.1 million, Vernacular.ai is now expanding into Southeast Asia and the US, and investing more in R&D to further enhance its proprietary AI-based voice automation platform.
DynamicCIO spoke to Sourabh Gupta, Co-Founder, and CEO, Vernacular.ai about various issues including the need for automation, future of Voice assistants and its proprietary product VIVA.
Here are the excerpts of the interview in the video.