In this Post-Covid era, many physical retailers are facing a dilemma. The pandemic and subsequent lockdowns has skyrocketed online retail sales and there were over 12 million new online shoppers in the US only leaving physical stores with massive losses. According to Statistica, 2020 and 2021 was some of the best years US e-commerce has ever seen but some of the worst for physical stores. Following the opening up of stores, about 68% of consumers still shop online the same or more since the pandemic. The rise and subsequent deflation of online demand means that physical stores are able to once again turn a profit but must be able to appeal to both physical customers and their newer online customers. For Macy’s, this meant embracing a voice AI-centered personalization strategy.
Macy’s, one of the world’s largest physical fashion retailers, was badly affected by the pandemic. The retailing giant suffered massive losses but has been gradually recovering with the help of voice AI. By incorporating voice AI with Macy’s customer experience, the company has been able to offer personalized journeys, product recommendations and online ads. With the help of this technology, Macy’s is able to offer a unified customer experience ensuring that all interactions, whether in-store or online are catered towards the specific individual.
Voice AI has come a long way from its early days of vocoders and singing Daisy Bell with the help of electrical synthesizers. Years of advancing generative AI technology has produced state of the art voice AI that is able to successfully replicate human speech and is sometimes indistinguishable from the human voice. The applications of voice AI have also increased considerably since the 1960s. Today, voice AI is probably most known for the voice assistants that they power. Popular voice assistants like Siri, Alexa, Google Cortana and many others rely on voice AI to function. The mainstream success of generative AI has also driven the public’s attention to voice AI with many people experimenting with AI voice generators and cloning tools to create music, podcasts, comedy videos and a lot more.
Surprisingly, non-tech companies like Macy’s are also turning to voice AI and integrating the technology into different aspects of their work flow. Because voice AI is helpful in multiple areas (voice AI has successfully been used in multiple industries for everything from streamlining administrative tasks to detecting fraud in financial institutions), the technology can be incorporated into virtually any field including non-tech ones. Here are some ways that non-tech companies are using voice AI in different industries.
Healthcare
Healthcare is a very rigorous industry for both healthcare practitioners and their patients. With the industry facing increasingly high understaffing rates, effective time and patient-doctor management tools has never been more important. Enter voice AI. With the use of voice AI technology, healthcare practitioners are able to utilize virtual assistants that automate administrative tasks including sending medication reminders, prescription management, obtaining reports, and answering routine questions. Patients are also able to ask questions and receive support with the use of voice AI technology.
Voice AI technology is especially useful for patients with visual impairments or learning disabilities. With the technology, they are able to interact with healthcare professionals ensuring that they are able to access healthcare services. This in turn leads to a higher quality of care because of better and more accessible interactions, and tailored support and monitoring without sacrificing the work life balance of healthcare professionals.
Many hospitals and healthcare providers are incorporating voice AI into their workflow. Based in Salt Lake City, Intermountain Health is a not-for-profit healthcare system with 385 clinics and 33 hospitals. Intermountain Health combined voice AI, advanced algorithms and evidence-based medicine to develop a tool that integrates AI into the workflow of healthcare workers. With this tool, healthcare workers can access imaging and diagnostic services including interpreting chest images. Physicians can also use data from the app to determine the best course of treatment for their patients.
Education
Education is another notoriously understaffed field with a staggering 86% of public schools reporting that they struggle to hire educators. Teachers are also often overworked and underpaid with less than 2 in 10 teachers reporting that they are satisfied with their jobs. Voice AI has probably not been more needed than in the education sector. With the use of voice assistants, teachers and educators can automate administrative tasks like daily attendance registration, regular reports and other mundane paperwork to focus on what really matters, teaching students.
Educators can also use virtual assistants to create custom learning pathways for students ensuring that all students are equally engaged and equipped with the resources needed to learn. Voice AI is also useful when teaching visually impaired students and students with learning abilities, helping them to learn alongside their pairs. The technology has been used to provide AI-based assessments for language and literacy programs.
ISTE, an organization that teaches educators to reimagine learning, has been at the forefront of merging technology, particularly AI, with teaching. Their latest project, Stretch AI combines voice AI and generative AI to build the first AI coach specifically for educators. Using the tool, teachers are able to access support and guidance as well as tips to improve their teaching skills and strategies to create more inclusive learning experiences.
Financial Services
Financial institutions incorporate voice AI in ways that are both universal and unique. Like many other industries, financial institutions use voice AI to automate customer service and call ins. With the use of voice AI, financial institutions are able to revolutionize their customer service enabling them to respond to clients promptly, learn and adapt to customer queries on the go, and address customer needs as soon as they arise.
Voice assistants in financial institutions go a step further and allow customers to access their accounts, make transactions, pay bills and report complaints. Using the data and feedback obtained, financial institutions are able to adjust their services to suit the needs of their customers. With voice AI, financial institutions can also protect against fraud by incorporating voice recognition technology into their systems, adding another layer of security. By doing all these, financial institutions are able to protect themselves, streamline operations, and reduce costs without sacrificing customer satisfaction.
Financial institutions have always welcomed the use of technology including voice AI and Deutsche Bank is no different. The investment banking firm has embraced the use of the technology to automate various banking processes including categorizing transactions, streamlining operations and deploying recommendation models.
Retail
The retail industry has undergone a significant shift with the boom of online shopping transforming the entire industry. Like Macy’s many physical stores have had to either pivot their business models or risk being shut down because of the drastic change in market conditions post pandemic. All over the world, physical stores are closing as more and more consumers move to buying online. While they are doing considerably better, online stores are also struggling after the pandemic boom. Many retailers are now turning to technology to help bring back customers.
Voice assistants are playing a key role in creating a more pleasurable shopping experience for customers. With voice assistants, retailers can offer a personalized service, effectively streamlining all of their interactions. On the other end, voice assistants give retailers access to analytics to help improve their services. Retail workers can also access customer information , send texts, and review the experiences of their customers.
Voice AI can also be used to provide voice-assisted ordering and payment platforms. This simplifies the process of searching and ordering for an item for customers allowing them to simply say their preferences item and proceed to ordering it. This also improves the accessibility of retailers allowing customers with hearing impairments to access products easily and pay for them just as easily.
Hospitality
The Hospitality industry is one of the largest markets globally reaching over 4.7 trillion dollars in 2023. It is also another industry that suffered as a result of the pandemic and is only now getting back to pre-pandemic profitability. Voice AI offers businesses in the hospitality industry a pathway to better customer satisfaction as experience. Hotels are enabling voice AI in rooms, allowing guests to access personalized recommendations and information. They are also able to access 24/7 room service ordering, housekeeping, and tourism services.
Voice AI is also invaluable for hotel staff, helping them to automate routine tasks and requests. The technology can also be used to provide customer service to guests, accepting room service orders, scheduling reservations and housekeeping as well as provide personal support to guests. Restaurants and bars are also using voice AI to handle phone calls, food ordering and delivery.
Marriot, the world’s largest hotel chain, is turning to voice AI to reinvent its customer experience. With the help of generative AI, Marriot is allowing customers to create bespoke experiences in order to personalize their offerings to each customer. The hotel chain is also using the technology to automate a lot of their manual tasks allowing their staff to spend more time with guests.