The evolution of the business space has always been closely connected to the developments taking place in the tech sector. Over the years, we’ve seen companies in all industries embrace all sorts of tech solutions to improve different aspects, lower risks and inefficiencies, and keep up with consumers’ changing demands. The transition from brick-and-mortar establishments to online platforms, the use of e-mail as a main communication channel, or the adoption of cloud computing for scaling and collaboration are all relevant examples in this respect. So, what could be the next big tech innovation to shape the future of business? By the looks of it, there are two major contenders ready to take on the challenge: artificial intelligence and cryptocurrencies. These are very broad technologies that can be used in many different ways in business settings and beyond, making it a bit difficult to grasp their full impact, so we’re going to refer to two very specific applications that have already begun to change the way businesses operate, namely AI voice agents and crypto payments. 

We know that AI is an incredibly powerful technology, but also a highly controversial one. We also know that digital currency prices are heavily influenced by crypto market sentiment, so their integration into business structures comes with a lot of challenges. However, none of these issues seem to pose a big enough obstacle to adoption.  

Businesses are speaking AI 

People have gotten pretty accustomed to AI tools. Students use them to write their essays, some use them to see how they would have looked in the ‘80s or strike up a conversation when they’re feeling bored, and pretty much everyone takes advantage of AI programs for everyday queries.

Even those who think they’re immune to AI’s growing influence most likely interact with it unknowingly in one way or another. But things are different and fairly more complicated when businesses use AI because the tasks that the technology has to handle and the changes it brings along are much more profound. 

Until not so long ago, most AI systems operated primarily through text. Large Language Models (LLMs) processed the text inputs they received and then generated text or vocal responses. However, newer models integrate voice capabilities that allow them to interact with users via speech. This means they understand when users talk to them and can respond verbally in real time. That’s how AI voice agents (AIVA) entered the picture and the business realm. 

The contrast between Interactive Voice Response (IVR) systems that used to be the norm for automated communication and advanced AI voice agents is striking. As opposed to the rigid menu structures, fixed scripts and basic task handling that IVRs offer, AIVAs interact with users in a human-like manner, through normal speech, understanding their intent, remembering context and using normal sentences to respond and even manage complex dialogues. They can also solve certain problems directly instead of redirecting them to human agents, and can be integrated with business systems to handle a variety of tasks. 

For companies and organizations, the use of AIVAs can reshape and streamline communication and workflows across many levels. Customer support is probably the area where AIVAs have the biggest impact. Handling high call volumes and constant inquiries from customers has always been quite a challenge for businesses, one that conversational AI systems can help address. Their ability to listen to customers, respond promptly, and provide fast solutions, all while ensuring that the conversation flows naturally, makes a huge difference to the overall customer experience.

AIVAs can be highly effective for lead qualification and outbound sales as well. They can take on the task of making and answering marketing calls to qualify leads, collecting data and entering it into CRMs.   

Appointment scheduling and booking is also something conversational AI software can handle, managing businesses’ entire schedules with unmatched accuracy, from checking available dates to confirming bookings and rescheduling appointments. Furthermore, AIVAs can take care of certain financial task, particularly those related to collecting banking details and offering support for payment workflows.

Thanks to their practical use cases, industries like retail and e-commerce, healthcare, real estate, banking and telecommunications, as well as any businesses that deal with the public, can benefit significantly from the use of AI-powered voice agents. Apart from the massive savings it can deliver, which can go as high as 90% according to some estimates, the implementation of AIVAs can help companies improve customer experience and become much more efficient in areas where bottlenecks, delays and human errors were common.

Bringing crypto alongside fiat 

The other big change that’s been making waves across the business world is the adoption of crypto payments, a trend that started a few years ago and has been accelerating considerably lately. Businesses accepting digital currencies as a payment method would have sounded far-fetched in the early days of the industry, but the market has evolved and matured a lot since, and now digital assets are closer to conventional finance than they ever were.

The advantages to adding crypto at the checkout are many. For starters, it’s something that an increasing number of customers are expecting, so basically companies would be responding to a growing demand. Crypto payments also translate into lower processing fees and faster settlements, as they are borderless in nature and eliminate conventional payment processors. This allows businesses to reach a broader audience and cater to those who don’t have access to traditional financial services. The prospect of completely eliminating chargeback fraud makes them an appealing choice as well, as many businesses register major losses because of it.

Challenges remain, though, as the fluctuating nature of crypto prices is still an issue. The lack of clarity surrounding crypto regulations doesn’t make matters easier for enterprises either. For the time being, companies that have integrated crypto use dedicated payment gateways to handle the technicalities of the process and reduce volatility risks. 

Many seem to believe that it’s just a matter of time until the use of AI voice agents and digital currency payments becomes commonplace for businesses. While there is still some reluctance around these innovations, the benefits appear to outweigh the obstacles, and so if adoption continues, they could have a huge impact on the future of business.