July 2021 Summaries

Speechmatics has shown allyship as an employer by adding the colors of the progress flag to their logo for Pride Month and prides itself on a culture of acceptance and freedom of expression. The company's leadership team and employees are committed to creating a safe and inclusive environment for all, particularly for members of the LGBTQIA+ community. This commitment is demonstrated through various actions, including joining the ranks of businesses that show support for diversity, equity and inclusion initiatives. Speechmatics aims to continue improving its culture of safety and celebrating diversity throughout the year, not just during Pride Month. The company's efforts are driven by a desire to move the needle and improve the lives of those who need their voices to be heard.

Speech-to-text technology is expected to gain significant traction in various industries over the next 3-5 years, with banking, financial services, insurance, consumer industries, and electronics being key sectors that will adopt this technology. The industry survey respondents believe that web conferencing transcription, customer experience and analytics, subtitling and closed captioning, and innovation in voice technology applications will have the largest commercial impact in 2021. Web conferencing transcription is expected to be a game-changer, enhancing accessibility and providing insights from calls through post-call transcripts. The use of speech-to-text technology is also poised to revolutionize customer experience and analytics by enabling frictionless interactions and capturing all customer conversations for better understanding and resolution. Furthermore, subtitling and closed captioning will become increasingly important as organizations need to improve their metadata extraction capabilities to offer personalized services and increase accessibility. The development of new languages and features, as well as efforts to remove AI bias, are expected to drive innovation in voice technology applications during 2021.