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Understanding the Background of the Voice Commerce Industry

We are all privileged to be living in an era blessed with multiple technological marvels, each eclipsing one other. One such marvel, if not the most powerful, is Artificial Intelligence or AI. It has the potential of transforming every object into an intelligent one. Since its inception, it has provided us more and more smart technologies that have been aiding us in our daily lives. 

Now with the advent of Voice AI and its gradual interception in the technological market, we are all set to witness the boom of voice commerce and its subsequent business in the years to come. As the modern world acknowledges and accepts the significance of voice commerce, let us delve deeper and understand its nuances with the help of a little background story. 

Where Voice Commerce Began

Voice commerce

Voice Commerce, or as we like to commonly term it, vCommerce, owes its roots to Google. It has developed the first speech-to-text tech in the form of “Google Voice Search.” The advanced application utilizes data centers for computing and analyzing data in the form of human speech. Then ten years earlier, it came up with its personalized voice recognition on Android. 

Moreover, this had the ability to record different voice requests from users and use them to develop a machine learning aided response. Backed by its strong vocabulary of more than 230 billion English words and Google to provide the apt response, it was quite a hit among tech nerds. 

Soon Apple’s Siri and Amazon’s Alexa followed suit, and now we have multiple voice assistants that have come out from their initial status of a “digital toy” and emerged as a complete ecosystem for economic transactions by itself. 

The benefits of vCommerce

1. Enhancing e-Commerce marketing

E-Commerce giants have benefitted immensely by utilizing voice assistants. Chatbots aided by voice assistants provide customers the optimum experience of online marketing and make it enjoyable. Voice AI technology has also enabled businesses to garner more information about their present and potential customers. 

This information is hence used to improve and build upon customized marketing strategies and SEO. Companies also use voice assistants for recording meetings and then transcribing it. This way, they could identify keywords and callers and make them searchable.

2. Improved customer services

Voice AI is being extensively used to support small and medium businesses to run their customer support efficiently. Voice assistants are utilized for processing payments, responding to queries, and following up on orders. Having a personal voice assistant is a resourceful tool for businesses to improve their customer service. It also relieves humans from continuous work hours and allows them to take breaks at least twice a day. 

3. Creating personalized experiences

Creating personalized experiences for customers has always been the objective for businesses since they have gone online. Voice AI has allowed them to collect more significant data from customer interactions to tailor more individualized customer interactions and optimize them. Marketing strategies can be enhanced this way as well. 

4. Removing Language barriers

Language barriers have been significantly removed with constant development in the field of voice AI. vCommerce tools are equipped with multiple languages across countries. Developers are striving to attain perfection in this regard, as well. But as of now, voice assistants have succeeded in making these language barriers negligible. 

How has vCommerce impacted Retailers, shoppers, and brands?

Google Voice Commerce

vCommerce has impacted retailers in a broader way than others. Several IoT devices aided by voice AI such as smart speakers, personal digital assistants, voice-activated intelligent assistants, etc. have served more than just a conversational agent for retailers. They are being used widely in the market and help consumers shop for every product promoted over that particular platform. 

Shoppers gain virtual assistance from voice AI-enabled assistants. The modern digital world witnesses more than 3.25 billion digital assistants across the world, and the number is expected to rise to more than 5 billion by the end of the year. The rising popularity of voice-enabled assistants is proof that vCommerce has changed the way shoppers used to shop for the better.

Brands can have a great way to market their products through vCommerce channels. Voice AI products such as voice assistants and smart speakers can be used effectively by different brands to advertise their products and services.

Functional features of voice commerce tools

  • Converse naturally – Voice assistants are programmed to copy humane behavior, and hence their ability to converse with users must seem natural. As it is aided by AI and ML, voice assistants can remember past conversations better than their human counterparts. 
  • Contextual awareness – Programmers have worked over the years to build voice assistants that showcase a perfect understanding of contexts in conversations. The very conversation is accounted for in terms of purchase history, demographics, time, financial status, and preference. 
  • Continuous learning – Voice AI has equipped voice assistants with the ability to learn on their elf. They correct their past errors and misinterpretations to come up with better results with more usage. Machine Learning techniques have allowed them to understand and learn from every human interaction they encounter and use it further. 

Voice Commerce Possibilities  

Voice Commerce has become one of the most efficient tools for business organizations and companies. Aided by voice AI, vCommerce is a continuously developing spectrum which is enabling more companies to reach out to its customer base and enhance it in the process. Reach out to SEO Design Chicago today for assistance with your voice commerce needs!

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