Artificial Intelligence (AI) and Machine Learning (ML) are two buzzwords that we hear the most across all industry verticals. Previously a dream confined to Sci-Fi movies, passionate companies have turned it into reality with real AI-driven products. AI is not just launching new products, but it is actually getting into the nerves of many already established industry verticals like VoIP and augmenting the existing products. One such product that we are going to discuss in this blog post is class 5 Softswitch.
We are going to delve deeper to explore how artificial intelligence is making its way in transforming the world of the retail VoIP industry and reshaping its future. In this blog post, we are going to cover the following points to shed light on how AI is reshaping the future of retail Softswitch.
To get interesting insight on this subject matter, let’s get started.
1. What is the Class 5 Softswitch Solution?
It is a software platform that is used by retail VoIP service providers. This VoIP Softswitch solution is developed with custom features to enrich business communication. This software connects a private network of business phone systems with a SIP network to provide telephony services to business users. Business phone service providers use this software to provide communication services to local businesses, end users, small offices, virtual businesses, etc.
2. What Are The Major Features of Class 5 Softswitch?
Similar to all other VoIP based communication solutions developed by a VoIP software development company, features in class 5 Softswitch software vary from provider to provider.
However, there are some commonly available features in this VoIP software that are briefly explained hereunder:
Call Management Features
As mentioned earlier, this system is used to provide business phone services to enterprises and SMBs. It can also be used to enrich communication and collaboration in a company by the business itself. In any case, it must have features related to calling for augmented communication and collaboration.
Following are some of the commonly available telephony features in any switch, whether it is a class 5 Softswitch open source solution or a third party one.
- Caller ID
- Call waiting
- Call transfer
- Call forwarding
- Call hold and retrieve .
- Ring group
- Voicemail
- Call recording
Depending on the switch, these features can vary and it may also have more advanced communication features such as Find Me, Follow Me, conference calling, and more.
Call Monitoring Features
These features are commonly available in the advanced retail VoIP Softswitch software. Barge-in, live call statistics, etc. are some of the advanced call monitoring features added by the top providers.
Self Serving Features
Similar to a majority of VoIP solutions, this solution also offers features to provide self serving options. IVR, call routing strategies, time and condition based call distribution, etc. are some of the majorly available self serving features in this switch.
Billing Features
Retail VoIP is one of the huge verticals in the IP telephony business. Retail VoIP service providers share more than 50% of the market share in this industry. To help them run business seamlessly, it is necessary to have advanced billing features that you would find in one of the best VoIP billing solutions.
Reporting Features
Reports are necessary in all businesses because it not only helps in evaluating the effectiveness of the solution and strategies in place but also help in providing actionable insight. The advanced class 5 Softswitch provides advanced reports along with call detail reports.
3. How Does AI Reshape the Future of Retail VoIP Softswitch?
The role of artificial intelligence in the retail VoIP industry is huge. Here are the major areas that will be impacted by AI and it will change the realm completely.
a. Improved quality of call (QoC)
In VoIP based communication solutions, there are some common issues such as latency, echo, etc. All this directly impacts the quality of the call and in many cases, users end up with a bad call that could not really make an active connection,
Artificial intelligence will change this whole scenario by making better choices of carriers, call routing strategies, etc. Moreover, it can also display the errors that are degrading the quality of call and service such as flashing the message “Poor Internet Connection”.
AI technology will help in eliminating major concerns like latency, delay, echo, etc. Without any added intervention from an engineer or a development company, AI can automatically perform jobs like echo cancellation, reconnecting lines, choosing the best and high performing carriers, etc. This is definitely going to increase customer experience along with increasing inclination towards VoIP based communication solutions.
b. Augmented Self Serving Options
Retail Softswitch provides self serving options like IVR. Artificial intelligence and machine learning technologies are capable of augmenting the role of IVR. It can personalize calls by pronouncing the name of the caller. It can even provide more personalized voice prompts depending on past interactions with this client. For example, if this customer calls majorly to check for billing related items, then AI will give options related to this area in general.
Also Read : Class 5 Softswitch Software to Start Your Own VoIP Business Effortless and Instantly
Moreover, a third party solution also adds instant messaging as a communication channel along with phone calls. Artificial intelligence will add smart assistants using chatbots, conversational AI, etc. that will augment the process of self serving. It will not only collect more insight into customers, but it will also help with advanced self serving options.
This will help businesses to handle more customer calls without involving staff. Moreover, during off-hours or holidays, a business will be able to handle more interactions and even satisfy clients with the assistance they were looking for with AI assistants.
c. Increased Flexibility in Conferencing and Business Calls
Conference call is one of the major types of interactions carried out in firms using the class 5 Softswitch software. AI is augmenting this area too with amazing advancements in the technology it has to offer. It can help in enhancing the communication quality and make it simpler to run a conference.
AI has a pivotal role in conference calls and even for one to one business calls. It provides advanced features such as transcription of the call with the name of each participant. This can be a great recording of the call other than voice recording because now participants can search for a specific action item from the transcript.
Artificial intelligence can also create MOM points for conference participants and send them automatically. This would help in keeping all MOM pointers in place and that also professional.
One AI use case is already implemented by popular VoIP based communication tools, which is real time translation. If a business call or conference is conducted between two professionals that don’t share the same native language, then AI can make their life easier and communication effective by translating the call in real time. This is an amazing way to enhance the communication experience and even bridge the gap to provide a reliable tool without the need for a manual translator in the call.
d. Cost Reduction
A majority of businesses choose to use VoIP services because of reduced expenses and AI is going to hammer this benefit even further. It can provide a smarter way to use this VoIP Softswitch solution to reduce the overall operational and maintenance expenses. It will help businesses to choose cheap routes to conduct international calls. VoIP softswitch will help in selecting features during the upgrade of the software. This will help in building a business communication system that can meet exact business needs and give the highest returns instead of investing in features that are never going to be used.
AI will also help in selecting the right providers for DID (Direct Inward Dial) numbers, carriers, internet plans, etc. In multiple other ways, this technology will help the retail VoIP industry to build a sustainable communication solution that persistently reduces overheads and increases benefits.
e. Security Enhancement
Many enterprises resist using a business phone system based on a retail VoIP Softswitch solution because of threats related to security attacks. As everything is online and it traverses over internet lines, which are easy to intercept, many companies find it frightening to use VoIP for communication or any other use.
Artificial intelligence is helping this industry to overcome this issue very effectively. It adds smart algorithms to identify hack attempts, interception, deceiving calls, etc. in real time. Moreover, it can even help in taking action in real time to stop fraudsters and malicious activities.
In addition to adding new security algorithms and features, AI can also help in augmenting the processes set by existing security tools like session border controller, two-way verification, fraud detection and management, and more.
f. Augmented Billing
Billing is an important part of the retail VoIP industry, which is why instead of using basic billing features, retail service providers use advanced VoIP billing solutions. Artificial intelligence will take responsibility for augmenting the process, features, and mapping of billing in the retail switch. It will automate more than 80% of jobs related to tracking customer interactions and use of the system, generating and sending invoices, keeping accounts and bills, processing payments, etc.
AI can further help in defining subscription models, rate cards, and more to make offerings more attractive and effective for retail VoIP service providers. The intervention of artificial intelligence will not only help in billing processes in this industry, but it will help in augmenting business models, too.
g. Rise of Open Source Class 5 Softswitch
The use of class 5 Softswitch open source solutions is still very much in demand. However, there are not many community contributors that contribute to these open source solutions. Here comes the role of AI because it can also help in the following jobs for an open source solution:
- Building similar modules
- Testing new features and functionalities
- Responding to questions from users
- Fixing bugs in real time
- And more
All this can help in benefiting those thousands of users of open source solutions. If you are wondering whether to use an open source proprietary class 5 VoIP Softswitch, then you would love to read our blog on – A Winning Guide to Know More about an Open Source Class 5 Softswitch .
Concluding Notes
Artificial intelligence has been greatly impacting all segments of the IP telephony industry. Being one of the most used solutions, it is less likely that the class 5 VoIP Softswitch does not get impacted by AI. As mentioned in this blog, the role of artificial intelligence in the retail VoIP industry is noteworthy.
Leading businesses in VoIP and AI industries assert that AI can identify gaps and concerns in retail VoIP for most businesses. It tackles performance issues, such as latency and security threats, to gain the trust of underprivileged users. Moreover, it enhances performance and expands use cases of the VoIP industry by leveraging intelligent technology.
In a nutshell, advancements in technologies like AI and machine learning greatly impact the retail VoIP industry, improving prospecting, customer service, technical enhancements, security, and more.
We have been harnessing the potential of technology to augment VoIP solutions with our technical expertise in this industry. ASTPP can help you in adding AI driven features to your retail switch to gain a competitive edge. We also provide the switch to the business phone service provider that has all amazing features and functionalities. To discuss more about our class 5 Softswitch, please get in touch with us.
