Voice assistants have probably been one of the old use cases of Artificial Intelligence in the real world. Having a bot which gave you the information you required – around weather, top news, entertained you when you were bored with jokes and riddles, has been the first mass scale offering of the next-gen technology. An offering that then set the basis of how convenient and fast daily operations get when you use a smart tool.
We recently met with a similar idea startup founder who was looking for funding facilitation support from our team. Now, although the software was based on voice assistant, what made it unique was that it was a lot more. Focused on enterprises, the app made it possible for customers to treat their phone as their virtual assistant. Through the app, they could ask the assistant to do a number of activities – make a call, book a reservation, type messages, etc. Basically, the application had an investor’s two favorite factors – Enterprise and Artificial Intelligence.
“When we sat down with the firm to understand their product, we tested it ourselves. What we found truly unique with them was the strong natural language processing capabilities they had added in. Even with all the filler words, the voice assistant was able to get the main message and take real-time action. We had truly never seen this seamless voice assistant platform before. And we were sure that the investors would also see this as a strong USP.”
On a global scale, the voice assistant market is expected to grow by USD 30.74 billion by the time we reach 2030. The market with its multiple use cases has made itself one of the reasons why people even use smartphones.
Amidst this when an application that perfectly understands human conversations and is able to collect key information from long phrases and act on it in real-time, it gets bound to become a contributory factor of the massive business size.
Everything, right from the product to the market favorability was a sign that it would be a success and would gain investors’ traction.
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