Voice Recognition

The economy is changing in Australia, the costs of business and living are skyrocketing. This fact alone causes business to reassess on how goods and services are delivered to the consumer in Australia.

The financial crash of 1987 sent shockwaves around the world, which resulted in a major reengineering of business in corporate Australia. Between 1990 to 1995 businesses changed their operational processes to survive, which meant cutting costs; and at that time, the easy cut was the human capital (staff). The staff costs are always high in Australia; and from 1990 to 1995 the age of the secretary was changed from a ratio of 1:1, being one secretary to one manager, to 1:3, or even 1:5.; this being known as pooling secretarial staff, or so called ‘coordinators’ of that time. This change was forced on to businesses to survive when the economy was in a downturn. Managers and employees in general where required to use computers to carry out their own work task, and those that failed to adapt, became obsolete.

Now moving forward to 2016, the business environment in corporate Australia has changed significantly from the 1990’s. Businesses are more lean and results orientated, and the human capital that cannot deliver the results, are ‘wiped out’; or using the old term from the 1990’s, made obsolete.

The big difference from the 1990’s to the present date, is that technology processes in Australia are now controlling the business operation entirely, through a vast integration of services. The question is, what is the next major change that will occur in the workplace environment where costs are extreme to operate in?

Well this leads me to the argument that in the next Australian economic recession, businesses will adapt to a more extreme cost cutting measure than has happened in the 1990’s.

As I have already stated, the human capital (staff) is the biggest costs, if staff can be eliminated from the business process, operational costs will decrease, which will allow the business to survive, and maintain a profitable stance.

Already airlines, banks, government centre operations, have their administrative processes automated, with touch key recognition by telephone pads, to at the present time with voice recognition software, which is making major inroads to the business services.

Voice recognition software and use in Australia has developed significantly over the past five years; however, most businesses have not effectively encompassed the technology to simplify the process of the user experience. This is really a software issue, which in my opinion will be effectively rectified before 2020, whereby the consumer at that time, will be able to properly interact with a business, in an efficient and effective manner with voice recognition software through the internet, as if it is a live conversation with a person.

As the voice recognition software industry develops, it will have a major impact on business operations in Australia. The consequence of this software development will be the redundancy of the human capital. So business operations that are planning for these changes now, will survive the skyrocketing costs in Australia, and any future economic downturn that impacts on the country.

Business cash flow is the key in a global dynamic market environment for survival, and change is a necessity, and not a luxury to exist in the future.

However, there is always negatives with business dynamic changes, and as human capital becomes redundant, unemployment in the country will increase, which will change the social demographics; will that be positive or negative? Well the future will tell the answer.