Voice AI agents have the ability to change the pitch of their voice, add accents, pause and listen, all while being contextually relevant.


By HP Ranina

Published: Sat Sep 17, 2022 7:14 PM

Last update: Sat Sep 17, 2022 7:15 PM

Question: In many South Asian countries, including India, illiteracy still exists. Therefore, the use of smart phones and other devices does not help illiterate people. Would voice-based solutions be the ultimate answer?

Voice-based artificial intelligence systems are leading the way in reinventing the way people interact with technology. Not everyone has the comfort of staring at a screen that displays text. Those who are illiterate obviously cannot interact via text mode. Many people with skills, such as carpenters, plumbers, craftsmen, cannot access technology due to their illiteracy.

Hence, voice-based solutions will become the ultimate answer and provide accessibility to technology. Additionally, seniors who may have vision issues will find it much easier to communicate using the voice-enabled AI platform. Similarly, people in rural areas of South Asia and other countries consider voice technology to be the best communication tool. Voice artificial intelligence provides a platform that understands and resolves user queries. Robotic voice artificial intelligence solutions are fast becoming a thing of the past. Solutions have now been found that will help create branded voice AI agents equipped to deliver human-like conversations. Voice AI agents have the ability to change the pitch of their voice, add accents, pause and listen, all while being contextually relevant. The medical profession is one area where companies see huge potential in conversational artificial intelligence.

Given the prevailing global scenario, where recessionary tendencies loom on the horizon, would India be able to sustain its export earnings?

The Ministry of Finance and the Reserve Bank of India have urged industry bodies to push exports using the rupee. This is likely to internationalize the currency with rupee-vostro accounts. The Reserve Bank has promised to deal quickly with requests to this effect. Rupee-denominated trading is a long-term exercise and will take time before its impact is felt.

The Reserve Bank has asked banks to get their counterparts to open special vostro rupee accounts to facilitate cross-border trade in Indian currency instead of using dollars or euros. Argentina and Zimbabwe have shown interest in settling bilateral trade in Indian currency. According to government officials, the move will reduce downward pressure on the rupee, ease transaction costs and eliminate currency risks for businesses.

Many people in India have invested their funds with unincorporated entities. According to press reports, large amounts are unclaimed because the heirs of deceased investors are unaware of the investments made. Are measures taken to prevent these unincorporated entities from appropriating the funds?

This issue arose in public interest litigation before the Supreme Court of India, which ordered the Securities & Exchange Board of India and the Reserve Bank of India to provide it with details of the funds. , debentures, shares, unclaimed interest and dividends. . Listed companies are required to transfer all unclaimed amounts they have had for more than seven years to the Government Fund for Investor Education and Protection. However, non-corporate entities are not required to transfer unclaimed funds to the IEPF. Authorities have made it mandatory for all entities to provide details of unclaimed funds as of August 31, 2022 to SEBI. These funds include non-convertible debt securities, non-convertible redeemable preferred stocks, non-cumulative perpetual preferred stocks and perpetual debt securities.

HP Ranina is a practicing lawyer, specializing in tax management and foreign exchange laws of India. The opinions expressed are his own and do not reflect the policy of the newspaper.

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