Apr 04, 2022
In Self Help Forum
Venture capitalists and mobile makers are on an acquisition spree, investing heavily in AI-based voice recognition and text-to-speech technology. With its wide utility in sales, customer service, mobile technology, and strategic planning, companies are eager to jump into this growing field. You don't need a meteorologist to know which way the wind is blowing since we all have smartphones these days. But figuring out the next big thing in search and mobile technology? It's a bit trickier. Let's take a look at some recent high-profile acquisitions in AI and speech recognition, and what they mean for the broader market. Voice recognition and personal assistant technology on the riseEarlier in July, Samsung paid nearly $50 million to acquire Innoetics, a Greek startup specializing in text-to-speech and text-to-speech technology. Their main and much-vaunted innovation is voice recognition software that can “listen” to a speaker and then read back an unrelated piece of text in an identical voice. The Employee Email Database takeover comes as Samsung is rolling out its personal assistant program Bixby, which the company sees as a direct competitor to similar programs like Amazon's Alexa and Apple's Siri. Although Samsung has yet to confirm its post-acquisition plans for Innoetics, an unnamed employee told TechCrunch that its technology is "perfectly suited for consumer services." Days after Samsung's announcement, Israeli startup Gong.io revealed that it had raised $20 million in Series A funding through the strength of its language processing tool, which they say can help to train and improve the productivity of customer service and sales representatives. Powered by machine learning and AI, Gong's software can both "listen" to audio recordings of calls and "read" transcripts of conversations. It then selects relevant keywords and emotional cues from the chat and uses a predictive algorithm to determine the most likely outcome of the conversation. Of course, machine learning programs need something to actually *learn*. So Gong used a truly unconventional training method for his AI that looks like something out of a sci-fi movie - their AI watched episodes of Seinfeld in order to learn how to deal with the intricacies of sarcasm, humor and the awkward human. human interactions. (AI brings new meaning to the phrase “Yada, yada, yada!”)Analysts expect technologies like Gong's to soon become mainstream in sales and customer service, especially in the CRM systems used by those industries. After predicting the outcome of a conversation, the AI under the hood can make suggestions to the sales or customer service representative on how best to continue the chat, or even automatically answer any unanswered questions.