Amazon and Google have been at the forefront of voice computing technology through smart devices like Amazon Echo and Google Home.
The companies have created corporate venture funds like Alexa Fund to invest exclusively in voice-first startups to bolster the capabilities of smart assistants like Alexa.
Paul Bernard, director of Amazon’s Alexa Fund, told Business Insider that corporate venture funds have been more active investors in voice tech than traditional venture firms. That is partly driven by self-interest in furthering the technology, he said, but also so that voice computing can become as widespread as mobile computing.
Corporate venture also has the benefit of a sole investor, the backing company, instead of a wider investor base that necessitates a more varied portfolio, Bernard said.
For voice computing to reach critical mass, both corporate funds and venture firms will have to partner on early and mid-stage deals to best support companies furthering the emerging technology, according to Bernard.
about the tech industry’s shift to the voice platform in BI Prime’s special report.
Amazon and Google have pioneered the shift to consumer-facing voice technology through smart devices like Amazon Echo and Google Home, but the tech giants …read more
Source:: Businessinsider – Technology