6 months ago
49
- Last updated September 25, 2024
- In AI News
The collaboration will focus on developing and training ASR models that can seamlessly recognize and transcribe conversations in multiple languages.
Yubi Group, a global leader in financial technology, has partnered with AI4Bharat, an AI research initiative from IIT Madras, to develop an Automatic Speech Recognition (ASR) engine specifically designed for handling financial domain conversations in local languages.
This cutting-edge initiative aims to bridge the digital divide by making financial services more accessible to millions of Indians who converse in multiple languages, thus driving true financial inclusion.
The collaboration will focus on developing and training ASR models that can seamlessly recognize and transcribe conversations in multiple languages, including instances where speakers frequently switch between languages, a phenomenon known as “code mixing.”
Yubi’s ASR engine will accurately process such code-mixed statements, ensuring financial institutions can better serve these communities by responding with the right solutions. Initially supporting over 22 Indian languages, the engine will be open-sourced for widespread adoption across industries.
According to the company, ASR engines from tech giants like Google and AWS, fall short in recognising Indian languages and handling code-mixed conversations.
AI4Bharat and Yubi aim to bridge this gap by training the ASR models on a vast dataset, including call center interactions, which represent natural, spontaneous speech in various local languages. The initiative will help Indian businesses optimize customer service and communication through enhanced voice recognition systems and accelerate conversational commerce.
“Financial inclusion begins with conversation. By developing this ASR engine, we plan to enable individuals from every corner of India to engage more easily with financial products and services in their preferred languages. This ASR engine will create a massive impact, allowing businesses to communicate with customers in their native languages, which will drastically improve access to services for those who are currently underserved,” Mathangi Sri Ramachandran, Chief Data Officer, Yubi Group, said.
The ASR models will be integrated into both human-to-human conversations, such as call centre dialogues, and human-machine interactions, such as conversational bots. This will significantly enhance user experiences, enabling real-time voice processing and seamless communication in regional languages.
AI4Bharat’s expertise in natural language processing (NLP) will ensure that the ASR models can handle the complexities of code mixing and semantics between Indian languages. This capability will revolutionize voice-based interactions across industries.
Pritam Bordoloi
I have a keen interest in creative writing and artificial intelligence. As a journalist, I deep dive into the world of technology and analyse how it’s restructuring business models and reshaping society.
Association of Data Scientists
Tailored Generative AI Training for Your Team
Upcoming Large format Conference
Sep 25-27, 2024 | 📍 Bangalore, India
Download the easiest way to
stay informed
Subscribe to The Belamy: Our Weekly Newsletter
Biggest AI stories, delivered to your inbox every week.
<span data-metadata=""><span data-buffer="">Flagship Events
Rising 2024 | DE&I in Tech Summit
April 4 and 5, 2024 | 📍 Hilton Convention Center, Manyata Tech Park, Bangalore
Data Engineering Summit 2024
May 30 and 31, 2024 | 📍 Bangalore, India
26 July 2024 | 583 Park Avenue, New York
MachineCon GCC Summit 2024
June 28 2024 | 📍Bangalore, India
Nov 21-22 2024 | 📍Santa Clara Convention Center, California, USA
September 25-27, 2024 | 📍Bangalore, India
Our Discord Community for AI Ecosystem, In collaboration with NVIDIA.
World's Biggest Media & Analyst firm specializing in AI
AIM publishes every day, and we believe in quality over quantity, honesty over spin. We offer a wide variety of branding and targeting options to make it easy for you to propagate your brand.
AIM Brand Solutions, a marketing division within AIM, specializes in creating diverse content such as documentaries, public artworks, podcasts, videos, articles, and more to effectively tell compelling stories.
ADaSci Corporate training program on Generative AI provides a unique opportunity to empower, retain and advance your talent
With MachineHack you can not only find qualified developers with hiring challenges but can also engage the developer community and your internal workforce by hosting hackathons.
Conduct Customized Online Assessments on our Powerful Cloud-based Platform, Secured with Best-in-class Proctoring
AIM Research produces a series of annual reports on AI & Data Science covering every aspect of the industry. Request Customised Reports & AIM Surveys for a study on topics of your interest.
Immerse yourself in AI and business conferences tailored to your role, designed to elevate your performance and empower you to accomplish your organization’s vital objectives.
© Analytics India Magazine Pvt Ltd & AIM Media House LLC 2024
