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5 Ways to use Speech Recognition APIs to empower your business

Humans evolved to share complex information by talking. As a result, it is in the conversations we have with our customers, business partners, patients and friends that we can find meaningful information.

In the 21st century, access to self-service solutions on the internet have driven up call volumes, not lowered them. In fact, at Opentalk 2018 Talkdesk shared that 40% of customers reach out to a support center after they’ve gone through self-service. Companies can make use of this counterintuitive truth to discover insights from their call data. Gathering insights allows companies to do three key things:

  1. Understand their customers and their frustrations better
  2. Change their own behavior
  3. Design better customer experiences

If you want to do these things, you need data. When you want to listen to your customers, at scale, speech recognition APIs are tools you use to extract valuable information from said data. Check out these 5 use cases below to get some inspiration as to how you can use speech recognition APIs in your business.

1. Improving sales

Speech Recognition APIs allow call intelligence platforms to take the heavy lifting out of sales coaching. Too often sales coaches and managers randomly listen to sales conversations to understand what their sales teams are doing and figure out where they can help their team improve. Richard Smith, Co-Founder and Head of Sales at Refract AI, has had customers describe this process as “an easter egg hunt,” saying: “You have hundreds of calls and you don’t know which one to listen to. Now you can start to hone in on calls based on what was and wasn’t said using speech recognition technology.”

Call intelligence platforms use speech recognition APIs to automatically surface the most valuable calls to listen to based on things like keywords, phrases, and sentiment. Sales managers have only so much time they can dedicate to call listening,but hours and hours of voice data to choose from. By being pointed to the phone calls that matter, call coaches accelerate the sales representative training cycle, empowering their reps to perform better, faster. With high accuracy speech recognition, call intelligence platforms uncover patterns in your team’s call data like:

  • Are certain reps better at selling to certain demographics?
  • How often are competitors mentioned in sales calls?
  • What imagery works better with customers who call from the East Coast?

Speech recognition APIs make it possible to effortlessly review 100% of calls in real-time so that managers can focus on the parts of conversations where coachable insights lie, turning sales into a science.

2. Increasing compliance

Call center managers know that staying compliant with regulations is among their most important responsibilities. It’s also one of the hardest. Because call centers receive thousands of hours of phone calls every day, call center managers can only monitor about 2% of phone calls.

One solution to this: give agents scripts to follow. Unfortunately, highly scripted calls result in lower customer satisfaction, higher employee turnover, and less-than-perfect compliance.

Speech recognition APIs are the tools that IT departments can use to make call representatives human again. When integrated into phone call monitoring software, speech recognition APIs allow managers to monitor 100% of calls at a glance, while leaving call representatives to use their unique talents to take care of callers. Now managers can invest their time in coaching their call reps, listening to the parts of calls that matter and identifying the language that is most effective in calls.

The ultimate goal of any call center is greater customer satisfaction. Speech recognition-enabled call monitoring programs make for proactive managing, happier employees and happier customers.

3. Better Customer Service

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Customers call businesses every day looking to purchase solutions and to solve issues with the products and services we sell them. Businesses use speech recognition APIs to listen more closely to the conversations they are already having with their customers.

Customers are calling more than ever before. Customers tell us who they are, how they use our products, what aspects matter to them and how they would like us to improve—we just need to listen. Speech recognition APIs allow us to look at our existing call data to look for trends that help us understand our customers more deeply without asking them to do more.

If you have a highly accurate transcript of your conversations with your customers, you can learn:

  • Why is the customer calling?
  • How do customers feel about a new feature rollout?
  • What features are more critical to improve?
  • How do customers cluster into different groups?
  • How did customers feel about their customer support experience?

No one likes to be asked for information they have already given. This is why speech recognition APIs are such a powerful technology. It can save businesses from conducting frustrating surveys, since callers are already telling company representatives what they want the company to know. It can also be the key to designing seamless customer service without anger-provoking IVRs, transfers between multiple agents, and repeated information for context.

4. E-discovery

Your firm just accepted a case which involves doing discovery on 10,000 hours of audio. How are you going to find the audio that matters? One solution—the fastest, and most efficient—is to use speech recognition APIs to search the audio.

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Legal technology companies already use speech recognition APIs to convert calls into searchable transcripts allowing investigators and attorneys to search calls, find case relevant data, put it on legal hold and then dispose of the rest.

Due to the sensitivity of the e-discovery process, it is one of the applications of speech recognition technology where transcription accuracy is most critical. This is because legal tech companies that prioritize a highly defensible discovery process choose only the most accurate speech recognition APIs when building e-discovery tools.

When legal companies are faced with large volumes of call data to listen to, the most cost effective way of finding the calls that matter is using highly accurate speech recognition technology to find relevant information, fast.

5. Medical Transcription

Electronic health records (EHR) are a foundation of modern medicine. EHR are essential digital versions of patients charts. Their digital nature allows for greater facility in sharing records, higher security and better workflow. However, medical professionals still have to fill them out. According to Forbes, doctors spend two thirds of their time filling out forms rather than attending to their patients needs. Filling out paperwork is perhaps the most disliked part of any medical professional’s job.

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At present, companies like MxModal use speech recognition APIs to produce EHR charts which are then sent to transcriptionists for review. The speech recognition API does the most of the work and human transcriptionists check to ensure accuracy. This approach is part of a paradigm shift in how medical transcription is done.

Because speech recognition APIs serve to further automate of the EHR workflow, medical professionals are able to focus more on their patients’ needs, bettering medical outcomes. After all, patients want to speak with their doctors, not watch them write. From an economic perspective, as the cost of medical care increases, the medical care centers that automate certain aspects of medical professionals’ work, like EHR, stay competitive and affordable.

When medical professionals can focus on their patients the medical payoff is exponential. This is because so much of taking care of patients is affectual: the better patients can communicate with doctors, the better patient’s experience—and good communication takes time.

The take-home

Getting access to the information locked up in voice data will be a key asset to companies in the coming years. Speech recognition APIs allow companies to look at call data surfacing information that empowers phone representatives, medical and legal professionals, and sales teams to take care of their customers, patients, clients.

Rather than randomly reviewing a small percentage of calls, managers use speech recognition APIs tools to get global and personal views of team performance, allowing for proactive intervention and training. Companies who want to deliver better products and services to their customers leverage speech recognition to understand customer attitudes by taking advantage of the most powerful communication channel there is: voice.