"Voice AI Technology to Emerge as a Key Interface for Smart Homes and IoT"

Samjong KPMG Publishes Report on 'Trends and Business Opportunities in the Voice AI Market'

[Asia Economy Reporter Minji Lee] It has been suggested that voice AI (artificial intelligence) technology will emerge as a core interface for smart homes and IoT.

According to the report "Trends and Business Opportunities in the Voice AI Market" published by Samjong KPMG on the 16th, the scope of voice AI technology utilization is expanding in smart speakers, smart TVs, connected cars, and other devices. Domestic and international companies are also entering the voice AI market one after another, making large-scale investments and developing technologies.

Voice AI refers to technology that recognizes voice commands on smart devices and utilizes various voice-based services. Recently, the market has rapidly grown due to advancements in deep learning technology, expansion of customer contact devices, and changes in user awareness and behavior regarding voice recognition technology.

The report explained that the voice AI market value chain is divided into foundational technology, platforms, hardware, and services. Technologies for implementing voice AI include voice recognition, natural language processing, semantic analysis, and voice synthesis, with deep learning, big data, and cloud serving as foundational technologies.

Foreign tech giants such as Google and Amazon have been launching voice AI platforms, also called voice agents, for the past eight years and are competing to dominate the voice AI platform market. In Korea, telecommunications companies, home appliance manufacturers, and internet companies are proactively launching voice AI platforms, emphasizing strengths such as voice recognition and synthesis performance specialized for the Korean language, as well as integration with domestic internet and mobile services.

As the use of voice AI technology increases in smart TVs and connected cars, hardware touchpoints are expanding. Smart TV manufacturers are competing to install voice AI platforms and evolve into smart home hubs that control refrigerators, air conditioners, smart speakers, and more. Thanks to the convenience and safety of use while driving, voice AI systems are actively being installed in connected car systems as well.

Promising voice AI services include ▲ voice commerce, which holds potential as a new commerce platform; ▲ in-vehicle voice services, which can be used as the main interface in cars; and ▲ extension functions that enable the launch of various services through the participation of multiple third-party companies.

The report suggested that to expand the voice AI market, issues related to security and privacy must be resolved, voice AI performance must be improved, and diverse application services and killer services must emerge. Since data collection and utilization are essential characteristics of voice AI devices and platforms, resolving security and privacy issues is necessary for market expansion. It also explained that improving voice recognition rates and developing voice AI that understands context are required to enhance performance. Furthermore, the emergence of core services that can gain user approval is essential for voice AI to enter the mainstream market.

Seunghoon Yeom, partner at Samjong KPMG’s Electronics, Information & Communications Headquarters, said, “As alliances and competition among technology, platform, and hardware companies intensify to build and dominate the voice AI market ecosystem, M&A activities targeting voice recognition technology companies will be actively conducted.” He added, “In particular, competition for voice AI to dominate the role of smart home and IoT hubs will become fierce.”

This content was produced with the assistance of AI translation services.