The Proliferation of Smart Speakers Expands to Household Management Services – PR Newswire

FinancialBuzz.com News Commentary

NEW YORK, Aug. 31, 2022 /PRNewswire/ — Artificial intelligence as a service (AIaaS) is a young market that is projected to grow due to high demand across several industries. The technology is constantly evolving and can already be applied in segments like financial services, telecommunication, government agencies, retail and even home services. The popularity of AI technology is growing in large part to its ability to manage complex data-driven applications, such as text/content or speech recognition, which account for a large portion of its market share. Automatic speech recognition technology alone is projected to expand at a CAGR of 30% by 2028, owing to the wide adoption of smart speakers in various sectors, a report by Grand View Research clarifies. Smart speakers recognize speech and respond to the consumers in a predefined manner. E-Home Household Service Holdings Limited (NASDAQ: EJH), Amazon.com, Inc. (NASDAQ: AMZN), Teladoc Health, Inc. (NYSE: TDOC), Alphabet Inc. (NASDAQ: GOOG), Baidu, Inc. (NASDAQ: BIDU)

Smart speaker technology has become quite prevalent in people’s homes over the last several years. For instance, Amazon’s Alexa and Google Home have accounted for the majority of the market share of the smart speaker segment in recent years. Smart speakers are often used to control other smart devices with the user’s voice, seamlessly making day-to-day tasks easier. With voice command, the user can control all smart devices by connecting the main device to the Internet. And, according to data published by MarketsandMarkets, the global smart speaker market size is expected to reach USD 15.6 Billion by 2025 from USD 7.1 Billion in 2020, while at a CAGR of 17.1%.

E-Home Household Service Holdings Limited (NASDAQ: EJH) announced yesterday breaking news that, “it has begun development of BAO TAO, a proprietary all-in-one home services tool meant to simplify daily household management.

BAO TAO is the result of E-Home leveraging its recently acquired Chuangying Business Technology Co.’s technological knowhow to modernize and expand access to household services. The new application seeks to redefine the Company’s approach to AI technology in enterprise and household cleaning as well as waste and inventory management. BAO TAO helps keep track of office and cleaning supplies and offers a seamless solution for scheduling maintenance, repair or housekeeping requests.

The tool could be installed anywhere in the home or office and is operated using voice command, ensuring widespread compatibility and ease of use. Elegantly designed, BAO TAO fits with any décor and needs only Wi-Fi to operate.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: ‘Technology moves fast and all of us at E-Home understand how important it is to stay up to date. Companies like Amazon and Google have shown us that smart devices such as Alexa can be instrumental in changing the way we approach home and office management. This is why it is a great pleasure to announce BAO TAO, a tool that helps push E-Home to the forefront of household management and allows us to offer unparalleled service to customers. BAO TAO is easy to integrate, can be operated solely by voice command and could be utilized in a variety of settings, such as the home and office.'”

For the ‘Buzz on the Street’ …….

Source: https://www.prnewswire.com/news-releases/the-proliferation-of-smart-speakers-expands-to-household-management-services-301615185.html

Tags:

Leave a Comment

Your email address will not be published.