The Impact of Web 3.0 on Voice Technology
Since 1999, we have been using the second evolution of the internet—Web 2.0, also known as the read-write web. In Web 2.0, users can create content and store information online. Compared to the read-only Web 1.0, Web 2.0 is more engaging, dynamic, and helpful. It's what's fueled the rapid growth in ecommerce, social media adoption and software-as-a-service (SaaS) business models. More importantly, Web 2.0 has been the catalyst for billions of people getting online and creating massive volumes of data that organizations can use.
Thanks to Web 2.0, companies and marketing teams have been able to identify new sales opportunities and increase revenue stability. They've had more information to improve decision-making and ultimately deliver better offerings to customers but have also had to grapple with managing data privacy concerns as more consumers used their services. In Web 2.0, online experiences on all sides improved, which is why so many are excited about the next generation of the internet—Web 3.0.
Web 3.0 builds on Web 2.0 by adding computing intelligence to websites and web applications. When people publish content in Web 3.0, online platforms and services will be able to learn and adapt on their own. One technology that will become increasingly important in Web 3.0 is artificial; intelligence-powered voice technology.
Voice technology is already in use today, but we've only witnessed the early stages of its potential. Through various forms of voice technology, people will be able to speak their intent to smart devices and convert speech into action, such as pre-paying for gas before arriving at the pump. The good news for companies is that this hands-free world of tomorrow is ripe with opportunity.
Those who understand how to take advantage of voice technology, use it within the context of Web 3.0, and commit to ensuring high data privacy standards will set themselves apart.
Better User Experiences Across Industries
Throughout Web 2.0, companies and organizations amassed tremendous amounts of data. This data has been instrumental in training and developing voice technology to where it is today. We now see voice technology making its way into countless industries, including retail, education, customer service, and automotive.
Call centers that were once operated by human agents are now giving way to smart voice assistants. In education, teachers are using voice technology to facilitate learning and maximize knowledge retention. Online shopping through voice has already surpassed billions of dollars in revenue.
The takeaway is that voice technology is not isolated to one field. It's already made its way into many areas of life and will continue to gain ground in Web 3.0. The possibilities for efficiency and seamless human-machine interactions are endless. Companies must learn to recognize where sales opportunities and customer touchpoints exist within this new paradigm. Doing so requires a basic knowledge of what voice technology can accomplish.
Two critical pillars of voice technology are automated speech recognition and text-to-speech, both of which will be crucial in Web 3.0 applications. Understanding these technologies will aid marketers in discovering new ways to drive sales.
Automated Speech Recognition and Text-to-Speech On the Rise
In Web 3.0, text-to-speech will continue to allow users to listen to text-based documents at their convenience. The implications for automatic speech recognition are huge for Web 3.0, as people will be able to create content by simply speaking to their devices.
Both ASR and TTS will help make Web 3.0 more accessible. Simultaneously, Web 3.0 will make the websites that leverage these technologies more intelligent. We're seeing this mutually beneficial relationship in many sectors today, from health care, where digital voice allows doctors to personalize and schedule appointment reminder calls or send in prescriptions via voice, to gaming, where the technology enables developers to produce in-game dialogue or power accessibility features like video descriptions. As consumers become more comfortable with ASR and TTS technology, companies will have more chances to increase brand awareness and sell their products.
However, leveraging ASR and TTS is not as simple as installing a new software package. Companies can either build custom solutions in house or partner with third-party vendors. In the short term, the latter route can make a lot of sense for companies that don't have sufficient capacity or IT skill. Plus, third-party voice technology providers likely have a better grasp on how to ensure data privacy in Web 3.0, which will become increasingly important.
The Importance of Data Privacy
Voice technology will accelerate data creation in the next evolution of the internet. While this presents more opportunities for companies to study customers and deliver tailored offerings, it also adds complexity. The lines between who owns which data will blur, and people will want more ownership over what they publish, which might include verbal requests to smart devices.
As Web 3.0 and voice technology improve, security standards will as well. While security best practices get fleshed out, companies will have to implement their own robust security measures, such as two-factor authentication or biometric security, and keep up with developments in the field to protect themselves from regulatory risks. They will also need to make sure they use voice data appropriately as they explore new channels. Deepfakes continue to make headlines, however, not all deepfakes are used maliciously; they can be used to educate and engage consumers, but companies must make sure they have the right practices and permissions in place. Companies can create internal guidelines, such as keeping voice-cloning platforms in house, protecting voice actors' legal rights, and making TTS voices available only to licensed business users.
Overall, the future is exciting, and Web 3.0 will take the internet to new heights. By incorporating machine intelligence into more websites and web applications,companies will be able to meet their customes' needs with incredible precision. The key to success for marketers will be learning the technology on the horizon and keeping tabs on how to maintain data security as the information at their disposal skyrockets.