December 2020 Summaries

Media companies are accelerating their content production and improving digital asset management workflows by leveraging speech-to-text technology. The growing demand for media and broadcasting solutions is driven by the shift to a digital-first strategy, with online advertisements improving campaign performance tracking and iteration. Digital and media asset management covers various media types, including images, videos, and audio assets, which are increasingly important in social media, lead generation, and revenue. Speech-to-text technology improves speed and accuracy of content production, allowing for quick search and captioning of online video content. The automation of laborious tasks enables content creators to focus on creativity and quality, while human transcriptionists work with voice technology to deliver perfect results. By reducing time spent searching for content and optimizing archiving costs, speech-to-text technology enhances digital asset management workflows, making them more efficient and cost-effective.

The challenge with speech-to-text technology for Spanish speakers lies in the vast number of accents and dialects used globally, requiring multiple language packs for each region or speaker profile. This leads to operational complexities and costs, as well as the need for repeated transcription through accent-specific models. A new machine learning approach by Speechmatics uses a single comprehensive Global Spanish language pack, built using Automatic Linguist framework, to provide reliable performance across most real-world applications, eliminating the need to identify specific dialects or accents. This solution enables accurate speech recognition in any-context, allowing contact centers to deliver localized and personalized services, meet customer expectations, and optimize their experience to drive loyalty and reduce churn.

The survey found that almost all C-level executives regard voice data as valuable or very valuable to their organization, and over three-quarters believe a 'voice-first' strategy will be in place within five years. Voice technology is transforming voice calls into text to help organizations search for compliance purposes, providing real intelligence on context, sentiment, intent, emotion, and actions. By converting voice call recordings into text, companies can retain, manage, search, analyze, and retrieve voice records effortlessly, accelerating compliance investigation times and protecting their brand. The rise in machine learning and artificial intelligence is taking monitoring and compliance management to the next level, providing flexibility to apply industry or channel-specific vocabulary to a voice technology system. Voice technology automates monitoring and discovery over vast call recordings for compliance purposes, enabling supervision and monitoring at scale while delivering a better service and protecting customers.

The COVID-19 pandemic has brought about both significant suffering for many small and medium-sized enterprises (SMEs) and opportunities for positive change in various sectors. Disruption, in a business sense, refers to radical changes that create new markets, such as the shift towards cloud computing and e-commerce. This shift has enabled businesses to adapt to extreme changes in human behavior, creating new market gaps and opportunities. Moreover, the pandemic has highlighted the importance of leadership, trust, and transparency, with proactive teams investing in the future of their business and prioritizing values and ethics. Amidst the challenges, digital communities have formed, and leaders have moved towards their workforces, fostering a sense of connection and care. The pandemic has also galvanized global populations to make positive changes, such as increased awareness and engagement on issues like diversity, flexible working, and mental health. As we move into the new year, leaders are encouraged to reflect on what they've learned, how their market has evolved, and where new opportunities lie.