What is voice and language intelligence?

Voice and Language Intelligence (VLI) is an area of artificial intelligence (AI), dedicated to developing technologies which understand and generate human speech and language.

How big is Voice and Language Intelligence Market?

The Global Voice and Language Intelligence market is anticipated to expand its roots at a steady CAGR of 21.8% between 2022 and 2032. The market is expected to have a market share of USD 109.9 billion by 2032, while it will likely be valued at USD 18.6 billion in 2023.

What are the key drivers of the VLI market?

The VLI market is being driven by several key drivers, including: Voice assistants and other devices with voice capabilities have witnessed increasing adoption rates over recent years. VLI solutions have seen an increasing demand in enterprise settings for customer service and employee productivity purposes. AI and machine learning innovations are rapidly making VLI technologies more precise and cost-effective.

Who are the top key players in Voice and Language Intelligence Market?

The top key players in the Voice and Language Intelligence Market are: Alphabet Inc., Amazon Web Services, Inc., Microsoft Corporation, Verint System Inc., Google Inc., IBM Corporation, Soundhound AI, Inc., Inbenta Holdings Inc., NVIDIA Corporation, Intel Corporation, Nuance Communications, Inc., Samsung Electronics Co., Ltd., Blackberry Limited, Ample Market Research, Oracle Corporation, and Other key players

What are the challenges facing the VLI market?

Some of the obstacles facing VLI markets include: VLI technologies rely on vast amounts of data for training purposes, which may prove both difficult and expensive to acquire. Complexity of human language: Human speech can be complex and nuanced, which makes it challenging for VLI systems to fully comprehend or generate. VLI systems may contain bias, reflecting any imperfections in their training data. Therefore, it's crucial that they be created so that they remain fair and impartial.

Voice and Language Intelligence Market Size

Global Voice and Language Intelligence Market by Type (Interactive Voice Response and Speech Analytics), By Application (Live transcription, Document digitization, Customer support, Fraud detection, Sales assistance, and Other Applications), By End-User (Healthcare, IT & Telecommunication, Automotive, BFSI, Government, Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032.

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