The extent of artificial intelligence (AI) implementation will rely completely on the effectiveness of its interaction with individuals, stated Mati Staniszewski, CEO and co-founder of voice AI firm ElevenLabs.

"AI is becoming more intelligent, yet in many areas of the economy, interpersonal abilities are equally as important as sheer reasoning strength." Both are essential for crafting amazing experiences. Individuals ought to engage with AI as effortlessly as they do with one another, using conversation and voice, in their own language and dialect,” he stated at the company's inaugural India Summit in Bengaluru on Tuesday.

The firm is currently valued at roughly $22 billion, twice its worth at the beginning of the year, supported by prominent investors like a16z and Sequoia Capital.

ElevenLabs, based in London, currently offers speech to text and text to speech services in 14 Indian languages and plans to include all 22 official languages in the next year, aiming to strengthen its presence in what it considers its largest market outside the US.

"If we can figure out how individuals engage with AI in this context, I believe we can address it in any part of the globe." "Our aim is to create AI that feels natural, intuitive, and reliable in daily interactions," Staniszewski remarked at a crowded event. "Being human-like is merely the initial phase." AI must also hear, grasp the situation, reply naturally, adhere to guidelines, and act upon intentions.

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Voice AI is among the quickest expanding areas in AI, with investors worldwide investing millions. According to data from Tracxn, there are 153 companies globally in the voice AI sector, with 107 of them funded and having collectively secured $3.6 billion in venture capital and private equity as of August this year.

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India is anticipated to serve as the largest testing ground and opportunity for the industry, boasting 1.4 billion inhabitants, hundreds of millions still using feature phones, and more than 100 actively spoken languages. Nandan Nilekani, the non-executive chairman of Infosys and architect of Aadhaar, asserts that voice AI represents the ultimate frontier and the sole viable interface to achieve genuine digital equality in India.