Automatic Speech Recognition (ASR) Technology – 2024’s Comprehensive Guide

Discover how ASR streamlines payment processes, ensures secure transactions, and improves operational efficiency, making it an indispensable tool for modern businesses.

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What Is Automatic Speech Recognition (ASR)?

Automatic Speech Recognition (ASR) is a technology that converts human speech into text using special algorithms and machine learning. It is also known as computer speech recognition, or speech to text (STT).

This capability allows for more natural interactions with machines, from virtual assistants to automated customer service systems. ASR technology relies on complex processes, including signal processing, feature extraction, and language modeling, to accurately transcribe spoken words.

Following an increase in smartphone users with Siri, Cortana and Google Assistant built-in, along with smart speakers such as Amazon Alexa and Google Home, voice search has jumped forward in speed and accuracy. It’s now estimated 65% of 25-49-year-olds speak to their voice-enabled devices at least once per day (Invoca.com).

ASR system has significantly transformed the way we interact with machines. By converting spoken language into text, this system enables hands-free control, enhances accessibility, and streamlines numerous processes across various industries. This article delves into the intricacies of ASR, exploring its components, applications, and the main benefits.

History and Evolution of ASR

The journey of ASR began in the 1940s, with initial attempts focused on recognizing digits and simple words. The first instance of speech recognition dates back to 1952 when three Bell Labs researchers built a system called “Audrey” that could recognize numbers spoken by a single voice. More advanced versions of ASR are continuing to enter the market, especially thanks to the development of AI (Artificial Intelligence), allowing these systems to learn and improve.

With the advent of machine learning and neural networks in the 1980s and 1990s, ASR systems saw significant improvements in accuracy and capability. Today, advanced ASR systems can understand diverse accents and handle complex speech patterns, thanks to continuous advancements in artificial intelligence.

Automatic Speech Recognition (ASR) in Key IVR's solutions

By fully embracing the latest technology advancements in voice services, Key IVR offers a reliable ASR speech recognition technology in payment services.

This gives customers the ability to verbally provide their account and payment details securely. The platform is capable of capturing and converting information spoken by customers, rather than asking them to enter numerical data into their telephone keypad.

For sensitive cardholder data, the agent will be unable to hear the customer as these details are spoken, so all agents, systems, and call recordings stay out-of-scope. The agent and the customer remain connected during the payment process, and your organisation remains safe and PCI-DSS compliant.

How Does Automatic Speech Recognition Work?

Automatic Speech Recognition (ASR) works through a series of sophisticated steps:

Speech Detection and Capture: The ASR engine detects and captures spoken words.
Audio File Creation: Converts speech into an audio file of the numbers or words it hears.
Noise Reduction: The audio file is cleaned by removing background noise and normalizing volume levels.
Waveform Analysis: Breaks down the filtered waveform into sequences for detailed analysis.
Statistical Analysis: Uses multiple passes and statistical probabilities to identify and transcribe whole words, numbers, and then complete sentences.
Data Integration: The processed data is then fed into the platform for further use.

How ASR Works for Agent Assisted Payments

1

The customer is on the phone with the agent.

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When the customer is ready to make a payment, the agent can continue the conversation on a new, secure call – all within a few seconds

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The customer can provide debit or credit card details by reading them out, entering via a digital payment link or using their telephone keypad.

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Sensitive information is never seen or heard by the agent, and they can stay on the call to assist. The details are processed by the payment gateway provider

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The agent can follow the customer’s progress on a dashboard, they do not see or hear any sensitive cardholder data.

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Once the payment is completed, the agent can move on to the next customer

1

The customer calls the organisation to make a payment.

2

When the customer is ready to make a payment, the agent can continue the conversation on a new, secure call – all within a few seconds

3

The customer can provide debit or credit card details by reading them out, entering via a digital payment link or using their telephone keypad.

4

Sensitive information is never seen or heard by the agent, and they can stay on the call to assist. The details are processed by the payment gateway provider

5

The agent can follow the customer’s progress on a dashboard, they do not see or hear any sensitive cardholder data.

6

Once the payment is completed, the agent can move on to the next customer

Implementing ASR technology can reduce payment processing time by up to 30%, significantly improving operational efficiency (Capgemini Research Institute).

Benefits of Automatic Speech Recognition

Comprehensive Data Capture: Captures not only numerical data but also addresses, references, and full names.
Ease of Adoption: Simple and easy for both customers and agents to use.
PCI-DSS Compliance: Helps organizations achieve PCI compliance when handling sensitive payment information.
Efficiency and Productivity: Boosts efficiency by enabling hands-free control and faster data entry, saving time and reducing errors.

Natural Interaction: Eliminates the need to disrupt the natural pace of a telephone conversation when inputting details into a keypad.
Enhanced Customer Experience: Allows seamless conversation flow between customer and agent, improving overall experience.
Multilingual Support: Works effectively with multiple languages and regional dialects.
Accessibility: Makes technology more accessible for people with disabilities, providing tools for voice interaction.

ASR System in Different Industries

Today Automatic Speech Recognition (ASR) technology is transforming various industries.

For example, in healthcare ASR technology is used for transcribing medical records, enabling doctors to focus more on patient care and less on paperwork. In the automotive sector, it powers voice-activated controls in cars, allowing drivers to operate their vehicles safely without taking their hands off the wheel. In education, ASR system provides tools for transcribing lectures by converting speech to text and enabling interactive learning experiences through voice commands.

In the payment industry Automatic Speech Recognition (ASR) technology provides a secure and efficient way to handle transactions. It streamlines payment processes by enabling customers to provide payment details verbally, ensuring secure, efficient, and PCI-DSS compliant transactions.

By allowing customers to make payments through voice commands, ASR technology provides a convenient and user-friendly experience, reducing the friction often associated with traditional payment methods. For example, a telecom company using ASR can allow customers to pay their bills over the phone by simply speaking their payment details, which the ASR system securely processes, enhancing both efficiency and security.

Future Trends in ASR

The future of Automatic Speech Recognition (ASR) technology is poised to see significant advancements, driven by integration with artificial intelligence (AI) and machine learning.

One prominent trend is the development of more sophisticated AI algorithms that enhance the accuracy and efficiency of ASR systems, enabling them to better understand and process diverse accents, dialects, and languages.

Another key trend is the incorporation of natural language processing (NLP) to provide more context-aware and intelligent responses. This will allow ASR systems to not only transcribe speech more accurately but also understand the intent behind spoken words, thereby improving interaction quality in virtual assistants and customer service applications.

Moreover, the payment industry is set to benefit from ASR through more secure and seamless voice-activated transactions, enhancing both user experience and transaction security.

As these trends unfold, ASR technology will continue to revolutionize how we interact with machines, making voice-driven interfaces an integral part of daily life across various industries.

Conclusion

Powerful technology known as automatic speech recognition (ASR) makes it possible to convert speech into text and improve accessibility in payment processing for all demographics.

The benefits of using ASR in payments are numerous. It captures not just numerical data but also addresses, references, and full names, facilitating easy adoption by both customers and agents. Furthermore, ASR ensures that agents, office environments, networks, and call recordings remain out of the scope of PCI-DSS compliance, significantly boosting security.

ASR technology has the potential to revolutionise the way we process payments, making it more accessible and secure for all customers.

Upgrade your payment processing with Key IVR’s reliable speech recognition technology, available on our Agent Assisted Payments solution, and provide customers with a seamless, PCI-DSS compliant experience.

FAQ about ASR System

We’ve put together some commonly asked questions to give you more information about Automatic Speech Recognition (ASR) technology and what benefits it offers to your business.

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