What is behind of using speech recognition by businesses?

Speech recognition systems have been a significant step forward in promoting automation and improving productivity. They have numerous various benefits and uses. The most important being for businesses. Incorporating a speech recognition system into your infrastructure allows a company to not only improve its operations but interactions with its customer base as well, alongside cutting down costs and improving efficiency. So, the question arises, what is hindering small and large businesses alike from making use of this wondrous application of computer technology?

A significant concern when moving to such a system is the machine’s ability to recognizing human speech. A machine is still only a machine, and we have not yet reached that level of advancement in the technologies we use every day for them to be flawless. Therefore, there is a considerable risk of misinterpretation. Speech recognition systems from the likes of Microsoft, Google, and IBM, do their job well, but not well enough. They are also costly solutions for businesses lacking in resources. So, to make a choice which is a drain on your budget for a speech recognition system that is lacking in accuracy is what drives businesses away from doing so.

Careful tests conducted on Google Speech, IBM’s Watson and MS Azure using varied combinations of speakers, topics, and alternating between different modes of speech show that mistake rates are high. Therefore, a better choice both regarding performance and cost is Anryze’s speech recognition system. Accuracy tests show Anryze faring better than the mentioned above speech recognition systems. 

Anryze Distributed Network is the world’s first distributed speech recognition system. It's peer to peer distributed computing network allows users to transcribe audio files without the reliance and intervention of a third-party provider like Google, Microsoft, or IBM, etc. It is also helpful in reducing most traditional data failures and providing highest accuracy speech transcription as it is designed such that it keeps improving itself. What is most important - speech recognition becomes an affordable instrument not only for small businesses but also fo companies who needs high volumes of speech recognition. For example contact centers. Today they cannot use this instrument due to astronomic prices for high volumes of audio transcribing. Average contact center can have more than 500 hours of recorded audio per day and these days absolutely no chances for company to handle current pricing. Anryze provides much more affordable, fast and accurate solution. 

Comparison with Other Speech Recognition Systems

Accuracy testing with Google Speech, MS Azure, IBM Watson, and Anryze STT V.bo.53 was conducted. Comparison of results showed Anryze as the clear winner. The testing methods used both male and female speakers. The speakers were required to perform conjoint speech and separate speech with pauses after every word. Seven different tests consisting of the single speaker as well as two representatives reading ten different prepared texts that covered separate speech, conjoint speech, dialogue, monologue, special words, and general speech were conducted by recording audio in record studio to ensure clean sound. 

Where other speech systems performed better in just one test at most, Anryze showed consistent better performance than its competitors. Of seven tests, Anryze showed excellent results in six and was the clear winner in four by making the least mistakes.

Decentralized Computing Network

Using the distributed computing approach allows Anryze to be faster, better, and more economical than its competitors due to the decentralized system which consists of three parts. A miner, a node with DHT, and Waves blockchain.

The Miner

The miner is the person offering its virtual machine with the recognition program to provide services to the users. Miners gain a commission in exchange for their services.

The Node

The node on the network a Distributed Hash Table is responsible for connecting users to miners.

Waves Blockchain

Waves blockchain platform records transactions to get payment from users. The system consists of users and miners. The users acquire speech recognition services for transcription using the hardware of the miners. The users pay for renting the computing power of miners while the miners get paid for leasing their computational infrastructure. Once a user is connected to a miner through DHT, a smart contract is formed between them.

A smart contract is an intelligent form of contract that ensures that the conditions of the contract are fulfilled. It is a secure and reliable method of ensuring contract fulfillment. Once the smart contract is formed the user makes the payment. When all confirmations are received the payment passes on to the miner. The payment further goes on to the second smart contract between the system and the miner for the commission.

In today’s business world, a large part of communication between people happens over voice. Therefore, even if that exchange of information is recorded, it would take the same amount of time to go through it all to understand it. The text is simpler in this respect. It is easier to analyze, and interpret. There are numerous applications in enterprise and healthcare sectors where speech recognition is vital in transcribing. 

Benefits

Apart from being better and more economical Anryze is also smarter because its AI and system are designed to optimize speech recognition and minimize costs. It also offers other benefits: 

• Save time by getting accurate text transcripts of audio.
• Cut down costs through automation.
• Free up people because of automation to direct them into performing other tasks to improve performance and productivity.
• Reduce time consumed by written communications. 

It is the best in improving interaction with clients by offering to transcribe. By giving you access to the valued customer feedback and information recorded in audio in text form not only do you save on time and resources but can get the required information from the text data more quickly as well. 

“We have been using Anryze service for five months so far, and it literally changed the way we treat clients. Before that, we weren’t able to transcribe all our conversations into the text form and have fast access to particular information that has been spoken because of the high price of existing solutions for large volumes of speech recognition and less accuracy in transcribing special terms. Now we have a history of all conversations with clients and are ready to help out in any question or solve any compliance request”.