“Voice assistants such as Alexa, Siri or Google Assistant have become very common in everyday life. From sharing the news or information about the weather to playing a song or your favorite podcast, voice search has opened up a new avenue: voice-assisted commerce or conversational commerce. Now that voice assistants are performing nearly perfectly, it’s time to make it your shopping assistant.”

What Does It Mean?

Voice-assisted commerce means that now you can do all of your shopping, ordering, and booking tasks just by using your voice.

For example, the next time you want to have a coffee, you can just ask Alexa and she’ll do the rest for you.

Conversational commerce is one step ahead. It is the use of instant messaging and chatbots to connect with users.

Why Do You Need to Know About It?

By 2020, half of the search queries will be done by voice, and thus online shopping portals need to step up their game. More and more retailers are integrating it into their channels, and soon enough it will be a seamless part of everyday life.

According to researchers, more than 50% of young people (people under 30 years) prefer to conduct search queries and tasks by voice, so combining voice and e-commerce gives any portal a competitive edge.

How Does It Work?

It works via any voice assistant devices, say Alexa. Alexa is taught ‘skills’ with the help of AI how to reduce the need of a user into physical outcomes. This helps it not just read out the results, but also be able to act on it.

Let’s take you through a hypothetical conversation between you and your voice assistant.

You: Alexa, can you order a coffee for me from Starbucks?

Alexa: Sure. What kind?

You: An espresso with two sugars.

Alexa: Okay. There are two Starbucks locations on the way. One is five minutes away and the other one is 15 minutes. At which location would you like to place an order?

You: The one that’s 15 minutes away.

Alexa: Okay. Is there anything else you want me to order for you, perhaps some breakfast?

You: Sure. A croissant would be good.

Alexa: Okay. I’ll place an order when you’re five minutes away.

You: Also, pay for it when you place the order.

Alexa: Okay. Payment will be completed using your amazon pay account.

See how easy that was?  Since most simple tasks can already be done by voice, many e-commerce search queries will now also be performed the same way. If you want pizza, you can customize it just using your voice. It isn’t a one-way process anymore, where the user goes through the cumbersome process of typing in a search box and scrolling through endless results.

How Does It Benefit Retailers?

This is beneficial not only for consumers by increasing their convenience, but also for retailers and sellers.

It makes consumer product discovery easier, which affects consumer experience related to the seller. Users will now be more aware of the choices offered, which increases the likelihood they’ll try new ones.

Retailers and sellers can capitalize on that and improve personalization, opening up another potential revenue stream. It will also help them connect to customers better and increase brand loyalty. Customers can get recommendations based on their previous choices.

One of the advantages an offline retailer has is in-person interactions with customers., which allows them to analyze the customer’s needs in real time. Such issues can be resolved using AI, where it can give the user’s results based on their location, weather, or any other information that can potentially affect the results. Your voice assistant will play the role of your store employee, who guides customers to the right aisles.

What All Can Be Done by The Integration of Voice and E-commerce?

1. Question about a product online: Want to buy a car? Get details about all of the options available.
2. Place an order for almost anything: From everyday foods to electronics, place orders using only your voice.
3. Track your order and its status: No need to go through your emails just to find the status of your order.
4. Get personalized recommendations: Want to buy a shirt? You can recommendations based on your previous purchases or searches.
5. Get trusted reviews: AI can filter out the vast majority of fake reviews. This way, you get to choose the best product for you.

How Can AI Help in E-commerce?

1. Target potential customers: Based on their interests, AI can show consumers recommendations that will also help retailers increase their sales and revenue.
2. Personalized recommendations: Since a voice assistant is already familiar with its owner and their preferences, it can filter products accordingly.
3. Chatbots: Retailers can now communicate with customers easily through chatbots that don’t require extra manpower.
4. Filter fake reviews: Fake reviews published by competitors and bots have become an issue for online retailers and e-commerce shops. To combat this, many e-commerce businesses use Artificial Intelligence to put more emphasis on verified reviews.

This is just the beginning! Voice commerce has a lot more it can accomplish.

Voice commerce or conversational commerce make shopping even more fun! Isn’t it amazing what technology can achieve with something as simple as voice?

Hire a Voice Skill Developer at Beyond Key Now!

Voice-based skills development can do wonders for your business, whether it’s in banking, retail, or any other sector. At Beyond Key, we have been developing voice-based skills for more than two years, and have a team of developers who are experts in developing and delivering new generation solutions with voice-enabled services.

Are you searching for a voice-enabled skill developer for your business? Your search can end here! Reach out to us at contact@beyondkey.com today!

The post Give Your Business a Voice appeared first on Beyond Key.

Here is a sample Amazon Alexa conversation on an e-commerce site.

You: Alexa, Ask U.S. Bank, ‘What is my balance?’

Alexa: Your US Bank account ending with xxxx1312 has a balance of $40,000.

You: Can you find out where my major spending was in the last week?

Alexa: Sure! You have dined several times at restaurants and bought gadgets online, and have been buying junk food frequently.

You: Ok, can you tell me if this is impacting my health?

Alexa: You have not been on a walk for over a week, so you may have gained some weight and increased your stress levels.

You: Ok, any suggestions?

Alexa: Should I renew your gym membership?

You: Yes, please.

Alexa: I have renewed your membership at Star Health Gym. Your code has been sent to your mobile phone which can be used as your access.

You: Thanks. Can you tell me how my savings plan is doing?

Alexa: Last week, I shifted some savings from your savings account to a premium account so you have a better interest rate.

You: Thanks. Any pending bills?

Alexa: Your Internet bill for this cycle is due. The amount is $400. Would you like to pay for it now?

You: Yes, please pay it now.

Alexa: Ok. It has been paid. Anything else?

You: No, thank you. Has your bank started sending you messages about how its basic customer service is available on simple voice commands? If not, ask when they plan to roll this feature out. Here are some examples of how Voice has taken the customer service experience in the banking industry to a different level.

Voice-Driven AI Tasks for Alexa

1. Pay your bills with voice commands.

Royal Bank of Canada is adding payment functionality to its app. The new feature will give customers the ability to pay bills on their iPhone or iPad via Apple’s voice assistant, Siri. After a user voices the command, the RBC app will debit their account and send the payment, which is protected by TouchID.

2. Check account statements and deposit checks with voice.

USAA has introduced a voice-driven AI remote check deposit feature in its mobile app which helps visually impaired members scan a check or get a voice account statement. They can request statements for specific dates and payees.

3. Plan your investments for the future.

Some banks have also facilitated their voice assistants to provide suggestions to their customers regarding whether they are saving enough for retirement or not. These assistants are equipped with machine learning skills which help to provide suggestions on rebalancing the savings and fixed deposit accounts, and also to guide customers to save on best interest rates.

4. Identity verification.

Some banks have used “voiceprints” of their customers for security and identity verification as well. Barclays lately has used “voiceprint” for identity verification via their mobile app. This service creates a digital profile of the customer’s voice using data gathered during the course of three phone calls.

When customers call to use the bank’s services, the technology can identify them from the first few words they speak. Mimicking the voice of another person can’t trick the system. Using voice recognition can speed up the log-in process, eliminating the need to type a password every login attempt.

5. Voice used to transfer money or report lost cards.

Santander allows its customers a special voiceprint app called SmartBank.  People can use voice recognition technology to perform multiple important tasks including making payments and transferring money or reporting a lost or stolen ATM and credit card. The app also provides instant bank statements within a specific time frame or with a specific retailer.

6. Login into account by Voice.

HSBC has developed a banking app to help customers to log in by giving their birthdate and account details and then saying “my voice is my password” into the mobile device. This digital voice piece is recorded in the app and reused for verification whenever a customer tries to log into their account. The company says it gauges 100 different characteristics of the human voice to verify a user’s identity. HSBC is also updating its voice-driven AI recognition software.

They claim that the app is still more secure than traditional PINs and passwords. But unlike with basic authentication, if your account is hacked, your biometric password–whether voice, fingerprint, or facial recognition–can’t be changed. And these are not all. There are several other services that have used these voice-based assistants and smart speakers to enhance their customer experience.

Voice Drive AI works with ML and Data Analytics

How AI is Creating a Buzz in Banking Artificial intelligence combined with Machine Learning and Data Analytics has made it possible for technology to understand and meet the needs of customers before they even ask. Combining machine learning with AI and cognitive technologies makes it even more effective in processing large volumes of information. Banks have started working on creating such smart voice assistants that are trained and supervised to read a large volume of data.

Careful injections of constant machine learning combined with cloud computing have brought major changes in the banking industry culture.

Banks are now more suited not only to resolve customer queries but also manage banking operations with proactive intelligence. Voice recognition systems have brought forth a great deal of convenience for bank customers. This system allows for converting text to speech so customer requests are understood in natural language.

The machine learning capability further allows the system to understand not only the consumer’s requests but also understand their spending behavior and decode human emotions within real-time limits.

Though security and adaptability are two major items posed against this rising technology in banking, they are still looked forward to as revolutionary changes. They offer unbelievable convenience while executing functions such as digital transactions, payments, loan processes, and deposits without having to engage in personal interactions.

Nuance was the first pioneer to introduce machine learning systems, though with limited audio and text capabilities. Apple’s Siri became the first technology to support this interactive algorithm with more mature potential. However, the success of voice assistant software has now led to fundamentally changing the way customers interact with financial organizations and bank commerce.

Security: The Biggest Question- Answered or Not?

Asking Google Home, Alexa, or Siri about the weather or music is one side of the coin. On the other side, individuals can ask these voice assistants about their other account balance or transfer money using a previously set-up four-digit code. Because smart speakers are still relatively new, there are still concerns regarding strangers hearing personal information in public; but industry experts agree solutions will emerge as these assistants mature with time and technology. Voice technology in banking has very low usage and adaptability, but it is sure to take off in the next couple of years.

Today, only two percent of respondents have used their voice to pay bills, and only one percent has transferred money to a friend through any type of device. However, the use of voice payments will nearly quadruple over the next five years to reach 31% of US adults — or 81 million consumers — by 2022, BI Intelligence estimates. Hire a Voice Skill Developer at Beyond Key Now!

Final Thought: Voice-Driven AI

Voice-based skills development can do wonders for your business, whether it’s in banking or any other sector. At Beyond Key, we have been developing voice-based skills for more than 2 years, and have a team of developers who are experts in developing and delivering new generation solutions with voice-enabled services. Are you searching for a voice-enabled skill developer for your business? Your search can end here! Reach out to us at contact@beyondkey.com today!

The post Redefine Banking E-commerce with Voice-driven AI appeared first on Beyond Key.

As smart home device manufacturers continue to explore appliances and devices that can be controlled remotely, we move closer to making our homes a little more magical. By combining wearable technology and smart home automation technology, it’s easy to envision a more productive and convenient home. Although smart appliances in homes are relatively new, their usage is growing quickly, and this trend is expected to continue to grow significantly over the next few years. Wearable devices could be used to seamlessly connect to smart environments, allowing consumers to save a lot of time around the house.

One such convenience we’ve brought into your smart home automation world is the “Smart door application”.
Smart Door App is a companion app to an existing garage door opener that securely allows one or more users to open, close, and monitors their garage door from anywhere in the world.

If you are using your old garage door remote control, you might know they frustration in using them. Some of those frustrations we face often include:

• We need to get extra remotes for family members, service persons, or tenants
• We have to carry the garage remote on a walk around your neighborhood or bicycle ride
• We lose or break them
• We forget to replace the batteries and only realize when it’s too late
• Garage remotes get stolen out of parked cars giving criminals access to homes

So your Voice technology enabled Smart door application for Home Automation is a simple yet robust solution for all these problems.

Benefits:

People have always reported that they forget to close the garage door and remember when they are in bed and ready to go to sleep. They have to rush out of bed in the middle of the night to check if the garage door is closed or open. Or they’re away from home automation and have an unexpected visitor who needs access to their home or car but they have no way to do so.

In all such situations, you have just one buddy, and it’s none other than Beyond Key’s amazing voice-based wearable app called Smart Door App. Let’s look into the other benefits of this app:

1. 
   CONVENIENCE
   Open or close your garage door with just your voice. Simply speak into your Apple Watch, Android Smart Watch, Alexa, or Google Assistant to place your command in the app. Once pairing is done, you don’t even need your smartphone near your wearable device or assistant.
2. 
   PEACE OF MIND
   Check the door status from anywhere, anytime, and see how much time has passed since the last event. Get notifications if your door opens or closes without your knowledge. No one other than permitted users can operate the door.
3. 
   INTEGRATION OPTIONS
   Easy integration of the app is available with smart assistants like Google Home and Amazon Alexa. Customized integration possibilities are on-demand with your choice of gadget.
4. SECURITY AND TRUST
   For user authentication and login permissions, the application relies on advanced encryption and authentication protocols similar to those used for banking transactions.
5. 
   COMPATIBILITY
   This application is compatible with most garage door openers available in the market. Works well with iOS and android watches and phones.
6. AFFORDABILITY
   Reasonable price quotes with all the available features to ensure you don’t break the bank. Additionally, any customization you need can be made a priority and development can be done within a stipulated time frame and budget.

How does it work?

• When any voice command is given to the app using a smartwatch, Alexa, or Google Assist, it is transmitted securely to the device which in turn will activate your garage door opener.
• After the status of the door is validated by the app, an audio status response is also played back to the user.
• The status of the door is displayed on your smartwatch.
• Push notifications are displayed to update the status of the garage door to users.
• An interactive interface is developed in the new build-up which enables the smartwatch app to play voice audio asking the user permission before activating the garage door.

What is the future?

Connectivity is the core result of IoT, and wearable devices are one of the keys to this technology’s expansion throughout our communities. If you look at predictions by the technology analysis company CCS, they have said that 95 million wearable devices will be sold this year, which will increase to 185 million devices by 2021. This impressive growth, combined with continuing IoT innovations and developments, makes it clear that the future of wearable devices connected to smart environments is right around the corner.

We are witnessing the integration of wearables in the smart home automation, where a smartwatch on our wrist can adjust the room temperature, turn on lighting, open and close doors, receive notifications from security systems, control other smart home devices, and much more all by listening to simple voice commands. We have been working on this smart home concept and wearable devices for the last two decades, and we’re still only in the beginning stages of this technological revolution. Expect significant growth, changes, and iterations in the coming months and years.

The post How Wearables Will Take Home Automation to the Next Level appeared first on Beyond Key.