While many CX industry pundits called the death of voice as much as four years ago, the channel is still going strong. Digital channels and asynchronous messaging have been embraced by customers looking for assistance at their convenience. But multi-modal approaches – where voice works in tandem with digital experience – remains part of the CX landscape. Jonathan Barouch, founder and CEO of Local Measure, believes voice is far from dead - in fact, it's experiencing a renaissance.
Barouch explained that many of Local Measure's customers have seen a significant shift towards digital and messaging channels, with as much as 50% of contact volume now happening outside of traditional voice. However, rather than voice being replaced, it's evolving to work seamlessly with these other touchpoints. This multi-modal approach has surprised Barouch, although he acknowledges that voice is the “most natural communication channel.”
The key, Barouch asserts, is creating a transparent and high-quality voice experience that customers are happy to engage with, whether it's a human agent or a sophisticated AI assistant. Transparency is critical - customers want to know upfront if they're speaking to a bot. He sees particular momentum in regulated industries like banking and government, where organizations are rapidly embracing AI-powered voice assistants to drive cost savings and efficiency. But he stressed the importance of getting the security and privacy controls right, with Local Measure deploying language models within the customer's own cloud environment.
He believes that a switch to more sophisticated AI-powered voice experiences has the potential to upend the economy. He cites the example of a local restaurant paying a backpacker minimum wage to answer calls, who is then put out of that role due to AI’s ability to seamlessly take it on. Ironically, however, he notes that some AI agents are still more expensive than the backpacker or an agent in the Philippines, for example – with prices up to as much as $2 per conversation. As AI’s rollout continues apace, that cost will come down and surely make the digital agents a cheaper solution overall. Furthermore, seat-based software licenses will likely be at risk – he notes that Local Measure is focusing on consumption-based pricing to keep aligned with this transition.