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4 The Power of Speech Recognition for Se... > Expanding Self-Service with Speech R... - Pg. 53

Figure 4.6: Increasing Self-Help and Cost Savings with Speech Recognition Amtrak Train Status a 42% 70% Merrill Lynch b 82% 90% Michigan Department of Treasury a 10% 98% (tax refund status calls) 2 million/year $ 2 million Company Touch-Tone IVR Usage Rate Usage Rate After Speech Recognition Implementation Call Volume Annual Savings a. Source: ScanSoft. b. Source: Nuance. Dreyfus b 45% 63% 2.8 million/year ~$1.2 million 12,000/day ~$1 million 50 million/year $6.3 million Expanding Self-Service with Speech Recognition Speech recognition applications take two primary forms: contact center applications (referred to as enterprise applications) and embedded appli- cations, where a speech recognition application is part of another system, such as a cell phone or automobile. As speech is the most ubiquitous, com-