Voice device growth too large to ignore by banking

The era of voice-enabled devices and voice engagement represents a major shift for consumer interaction models in banking. Banks and credit unions hoping to be 'fast followers' may be completely left behind, as organizations are building learnings from voice interactions that will result in customer experience differentiation opportunities.

Voice devices have become a mainstream utility in most homes, with voice-first engagement becoming more commonplace across technologies. According to the Smart Audio Report from NPR and Edison Research, 21% of Americans now own a smart speaker, with the number of devices in homes increasing by 78% year-over-year. In Adobe’s latest State of Voice Assistants report, 32% of consumers now own a smart speaker, up from 14% in January 2018.

According to the study, the average smart speaker household has 2.3 devices, with 52% using their device daily. These households use the devices for a variety of tasks, including doing research, tracking deliveries, managing personal calendars, buying products or just playing music. Beyond the use of smart speakers, even more people use the voice functionality on their phones or other Internet of Things (IOT) devices.


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