Voice-Recognition – Huge Opportunities

In this month’s article from Business2.0 titled “Now You’re Talking”, Jeanette Borzo performs an interesting analysis of the industry, it’s current status and its future.

In particular, there are a couple of aspects I found intriguing:

  1. Nuance getting more PR related to the competition against Ben cook, the 17-year-old Guinness Book of World Record holder for text messaging, where dictation proved to be 3 times as fast (you can watch the video below). Unfortunately they forgot to mention the fact that Nuance had to perform grammar customization and tuning to the system prior to the competition, which again causes the misconception on the market that speech recognition can flawlessly work out of the box.
  2. Tellme continues to appear as an established player, while BeVocal wasn’t mentioned at all.
  3. Most new players coming into the market are not related at all to the classical speech recognition implementations (a.k.a. Call Centers) but rather are targetting new markets such as video/audio search, personal communication devices, car navigation systems and real-time translations
  4. The rapid growth of the voic-recognition technology market, exceeding $1.2B in sales in 2006, estimated to reach $2.6B by 2009, yet most speech platform and service vendors still seem to struggle to find new customers and start new projects.

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