Speech Recognition Technology and Its Applications in Sales

Voice commerce has arrived. Today, retailers can sell products by designing experiences that leverage speech recognition technology and its capabilities.

According to Meticulous Research, wthe speech recognition market is forecasted to be worth approximately $26.79 billion by 2025 (growing at a CAGR of 17.2%). The number of voice assistants used around the world is also expected to reach a whopping 8.4 billion by 2024.

As such, speech recognition technology, like the dotcom boom, is well-placed to create a new avenue for sales teams around the planet. But before we get ahead of ourselves, let’s first define it.

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Walking into many houses around the world, you’re likely to find one or perhaps more ubiquitous little speakers, scattered around. For the residents of these homes, these devices have become a key part of their lives, sharing details about meetings, travel plans, grocery lists and even weather reports. We’ve come to depend on them to help simplify our lives and entertain us.

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