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Wall Street is Embracing Alexa

So JPMorgan’s has another way to access its research – Voice Assistants. Alexa is able to send analysts’ reports and related queries, and the bank is testing other features, like providing prices on bonds or swaps, according to David Hudson, global head of markets execution for the New York-based bank. According to a survey conducted last year by Bain & Co, customers are becoming increasingly willing to use voice assistants to monitor accounts. So, trading is going to happen. “Alexa, buy 100 shares of Apple at the market.”

So with voice applications now being used in MedTech and EdTech and now FinTech and soon, transactional Fintech, why is it so hard for investors to believe consumers will want to order food using voice assistants? According to Capgemini, 56% of those polled that own/use voice assistants today, want to order food using Alexa, or Google Assistant. But the problem to be solved, and the one that Orderscape has solved, is product availability. While there may be demand, there is very little inventory of menus – yet! Even if 100% of the consumers polled want to order food today, there are less than 20 restuarant chains in the world that have voice-enabled their menus. That’s really about 20 menus out of millions. So, we need the menus and lots of them to solve the selection problem. Repeating; Orderscape has solved this voice ordering problem at scale and we are working hard to perfect this in the next few months.

The Orderscape Universal Menu technology can voice-enable any restaurant menu at any location, making conversational commerce a THING. If you can believe you can trade a stock using Alexa, one should be able to suspend disbelief that one can order burritos, salads, burgers, Chinese and Indian food too. We’re on it!

See the article here.

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Michael L. AtkinsonWall Street is Embracing Alexa
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Evangelizing Voice as a Service

At the CGA restaurant event – London, UK. Pete Craig (l) and CEO Michael Atkinson (r), April 19, 2018.

We are passionate about what we do here at Orderscape. This means we get to share our enthusiasm and knowledge with retail merchants, restaurateurs and service providers everywhere. In exchange, we receive insight into what consumer use cases are on top of their minds. For the past several months, I have been speaking and evangelizing the power of voice technology at restaurant technology events in Austin, Dallas, Washington D.C., Orlando, Los Angeles and London. Every time, operators and information technologists are wowed by the possibilities. And, frankly surprised that voice ordering and voice as a service is being used now by both merchants and consumers. Voice is here and growing in use.

The adoption numbers are staggering. Capgemini research report suggests more than 7.5 billion voice assistants will be in use by 2022. This probably includes the 1.3 billion current users of Google Assistant. This means that there is no new app to download. Just attach a certified Voice menu Action powered by Orderscape and bam!

Pete Craig, who heads our London office for UK and Europe markets, and I attended the CGA Restuarant Analytics event in London, April 19th. I was able to share some ideas on how voice works in the restaurant environment and introduce the audience to our newest product; VoiceKPI. VoiceKPI is a way to voice-enable a data and insights dashboard without needing a screen. Just plug into a back office system for analytics and select your favorite KPI’s and just ask your business how you’re doing! Very cool. See more information about VoiceKPI here.

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Michael L. AtkinsonEvangelizing Voice as a Service
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Voice Shopping Set to Jump to $40 Billion By 2022, Rising From $2 Billion Today

Voice shopping is expected to jump to $40 billion in 2022, up from $2 billion today, suggesting the new channel may well be the next major disruptive force in retail, according to data from OC&C Strategy Consultants.

The survey showed growth in the voice segment will be driven by a surge in the number of homes using smart speakers, rising to 55% from 13% percent today. Meanwhile, Amazon is poised to dominate the new channel with the largest market share, currently more than twice that of its nearest competitor. In another report by Capgemini, they predict more than 7.5 billion smart speakers [digital assistant devices] in the market by 2021.

Among other key findings of the OC&C study:

  • Three tech behemoths lead the virtual assistant AI space in the US – Amazon’s Echo has 10% penetration of US homes; Google’s Home, 4%, and Microsoft’s Cortana, 2%.
  • Apple has been left behind. Siri lacks the AI capabilities of Google, while their HomePod has only just hit the market.
  • Only 39% of consumers trust in the “personalized” product selection of smart speakers.
  • Smart speaker owners skew younger and more affluent, and are more likely to have children.
  • Voice purchases tend to be stand-alone, lower value items.
  • The three most commonly shopped categories through voice are commoditized: grocery (20%), entertainment (19%) and electronics (17%). Clothing is fourth at 8%.

For more information about OC&C Strategy Consultants, please visit http://www.occstrategy.com.

Talking Shop Infographic_UK (1)

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Michael L. AtkinsonVoice Shopping Set to Jump to $40 Billion By 2022, Rising From $2 Billion Today
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Press Release

FOR IMMEDIATE RELEASE: February 20, 2018

Orderscape announces full-menu ordering certification by Amazon –Voice ordering isn’t on the way, it’s here today.

San Jose, CA: Orderscape, the order automation and voice technology software company to help restaurants grow sales and build deeper and more personalized relationships with their customers, announced today a full-menu ordering certification by Amazon for Fazoli’s restaurants. Fazoli’s customers can now order meals via natural language processing as an Alexa skill at some locations.

Orderscape is among the first automation software companies to crack the code on full-menu voice ordering targeting the global restaurant and hospitality sectors. “We are among the small number of technology companies worldwide to offer full-menu voice ordering solutions for restaurants,” said Ted Cohn, CTO and co-founder of Orderscape.

Orderscape is pioneering order automation using voice technology on a number of conversation channels like Alexa and soon, Google Assistant and Google Home. With full-menu voice ordering, restaurants using leading food ordering platforms like Olo, Onosys and Monkey Media software, among others, can extend their reach and provide a seamless conversational food ordering experience to their customers, creating another revenue stream while significantly improving the customer experience.

“Conversational commerce, or the 4th pillar of online ordering, coupled with artificial intelligence is set to revolutionize digital ordering for restaurants. Voice makes it easy to interface with technology into one, familiar action: speaking. Conversational food ordering technology drives revenue and improves the guest experience at the same time,” said Michael L. Atkinson, CEO and co-founder of Orderscape.

About Orderscape: Orderscape’s customer engagement and conversational commerce platform powers the digital experiences that bolster the relationships between restaurant brands and hungry consumers. The Platform ties together the emerging channels of Voice (Amazon Alexa, Google Home/Assistant, etc.) and ChatBots (Facebook Messenger) to strengthen the customer experience, increase engagement, satisfaction and retention, reduce service costs, and drive additional revenue. Orderscape has accessed over 100,000 restaurant menus on its platform and expects to serve tens of millions of diners, from its growing restaurant marketplace. Learn more at orderscape.com.

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Michael L. AtkinsonPress Release
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