Consumer Privacy, financial services marketing, Artificial Intelligence

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TOPICS: Consumer Privacy, financial services marketing, Artificial Intelligence

SUMMARY: The sound of your voice is becoming a new type of fingerprint. Technology that detects nuances in sound, inaudible to humans, is capturing new clues about people’s likely locations, medical conditions and even physical features.

CLASSROOM APPLICATION: Try to generate at least three potential marketing-related applications of voice detection technology. For example, the August 3, 2019 WSJ article about why people hate customer service (https://www.wsj.com/articles/everyone-hates-customer-service-this-is-why-11564804882) hints at some of the ways that voice detection could help companies deliver better customer service.

QUESTIONS:

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1. In your own words, explain how voice detection technology works.

2. List and briefly describe at least three ways in which voice detection technology is being used today.

3. List and briefly describe at least two ways in which voice detection technology could be utilized in a marketing context.

4. What consumer privacy issues are being raised about voice detection technology?

5. See the WSJ article about facial recognition technology: https://www.wsj.com/articles/are-you-ready-for-facial-recognition-at-the-airport-11565775008. In what ways might companies utilize both voice and facial recognition technology for marketing-related purposes?

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