aiOla is thrilled to announce its selection as the Best Speech to Text Solution by the 2024 AI Breakthrough Awards. With over 5,000 nominations globally, aiOla is pleased to be recognized by AI Breakthrough Awards, a program that performs one of the deepest evaluations of the worldwide AI industry to place a spotlight on the companies that are serving as trailblazers in the field.
aiOla stands out because its technology has made speech AI more accessible and ROI-driven for enterprises on an operational level. Let’s see how.
Market Challenge and Need for Practical Speech AI
While speech AI solutions have existed for decades and have been commonplace in many personal settings, many have not transitioned successfully into business environments. Until now, these solutions have lacked the ability to accurately execute industry-specific processes in any setting. This is because current technologies understand less than 60% of spoken language. Most importantly, they particularly struggle to comprehend business-specific jargon, which within any business setting, accounts for over 50% of the vocabulary in use. This means that when companies try to use off-the-shelf existing speech AI solutions for process completion or to boost efficiency, they are left lacking the sophistication needed for their intended use cases. Every speech AI tool will fall short without the agility to support tailored, industry-specific operational processes.
aiOla has overcome this critical speech barrier, driven by our mission and vision. aiOla’s proprietary and patented technology is the first-of-its-kind to fully interpret and understand business-specific jargon. Not only does aiOla know what these words and acronyms mean (without having to be previously trained), but the technology also filters relevant information from background noise with its advanced keyword spotting (AdaKWS) approach. In loud workplace environments, where employee conversations are the norm, aiOla can differentiate between the sideline chatter of workers versus spoken tasks that are essential for process completion and execution.
Why Now? The AI Market Transformation and Expansion
According to Markets and Markets, the artificial intelligence (AI) market is valued at $214.6 billion in 2024 and is expected to balloon to $1,339.1 billion by 2030, representing a CAGR of 35.7% between 2024 and 2030.
A major factor contributing to this rapid rise can be attributed to enterprise adoption of AI, as well as the advent of generative AI that is growing in popularity across various sectors. Since AI is a technology that gets better with time and use, the growth is expected to be naturally exponential.
Despite potential economic challenges, most executives agree that they wish to increase their investment in AI capabilities and infrastructure in the next year because it has proven to boost profitability.
aiOla is the Next Wave in Practical Speech AI
Mission-critical industries need technology that they can rely on to be accurate, timely, and consistent.
Named the Best Speech to Text Solution, aiOla delivers on its win by enabling frontline workers to perform tasks in their natural language and accent. For sectors in which communication is the key to keep processes moving forward, as well as to adhere to compliance, for example such as in food manufacturing and logistics, aiOla’s ability to accurately understand workers’ unique voices in any language or accent is nothing short of transformative.
By focusing on operational AI to enhance processes, speed, and accuracy, aiOla helps to reduce operational costs, increase productivity, and enable collaboration. But, that’s not all because there’s another pertinent layer that is required to make speech AI operationally proficient and able to generate positive ROI. The secret lies within its data.
aiOla parses unstructured voice data and converts it into highly structured text that can be easily processed at high speeds, with unmatched accuracy. Additionally, aiOla enables:
- Data Entry and Reporting: The captured voice data is converted into structured text, enabling accurate data entry and report generation, which demonstrates the system’s adaptability and understanding of natural speech. aiOla works with existing processes and systems within enterprises.
- Enhanced Functionality and Collaboration: aiOla’s technology facilitates better collaboration across diverse enterprise roles, adapting to varied needs and goals. This includes understanding frontline workers in their native languages and accents, and ensuring operational management receives uniformly accurate reports (essential for compliance adherence).
- Comprehensive Support and Impact: The solution supports both operational needs and strategic business goals, delivering unparalleled results with sustainable, far-reaching impacts, such as time savings and increased productivity.
As an example to explain how aiOla works in practice, consider a frontline worker in the fleet management industry who must perform vehicle inspections before trucks hit the road. With aiOla, this inspector can speak to aiOla’s app on their mobile device, while keeping their hands and eyes on the vehicle. Despite sideline chatter and irrelevant inputs, aiOla precisely captures and extracts crucial business and technical jargon from the speech, to automatically complete data entry and reporting tasks. aiOla has cut inspection times for Fortune 500 companies by 85% (from 15 minutes per vehicle to 60 seconds). The app both captures the data for review, and also reduces bottlenecks to expedite issue resolution and move any maintenance request into the right hands.
A Sea of Endless Opportunities
It’s a blue ocean out there– and aiOla is swimming with the best in the business. Our technology allows companies to customize workflows to their specific processes, ensuring smooth integration with existing systems. Its capability to comprehend over 100 languages, along with its recognition of accents from around the world, underscores its versatility. Whether accurately capturing industry-specific jargon, understanding multiple languages, or operating in challenging acoustic environments, aiOla caters to users of all skill levels.
From frontline workers to executives alike, aiOla’s user-friendly interface ensures easy adoption across teams. Safeguarded by its three patents, aiOla is truly honored to be recognized as a leader in the AI-powered speech recognition market and is committed to delivering excellence.
Looking to implement AI in your business? We invite you to schedule a demo with one of our experts to talk through how aiOla can benefit your business.
