Can OpenAI's New Voice Technology Replace Your Interactive Voice Response (IVR)?

You may have heard about OpenAI's exciting new voice technology that sounds incredibly human-like. The demos look amazing. The OpenAI voice agent is smart, natural and handles interruptions very well. But is it ready to replace your current interactive voice response system? Or, if you already purchased a voicebot service, can you replace it with OpenAI’s voice assistant to serve your customers? Let's break it down in simple terms.

The Good News

OpenAI's new voice AI (called ChatGPT-4o Realtime API) is indeed impressive:

Check out this demo video by Ray Fernando.

• It sounds very natural and human-like
• It responds quickly, almost like talking to a real person
• It can handle interruptions and changes in conversation smoothly

However, does it mean as business owners, you can just switch to OpenAI voice for your customer service agent? No. Not so quick. It is too expensive.

Is It Worth It for Your Business?

Let's compare the prices!

Unfortunately, this new OpenAI voice assistant come with a hefty price tag:

• It costs about $1 per minute of conversation
• That's roughly $60 per hour

To put this in perspective, let’s compare this cost with the 3 main other automated answering service solutions:?

• Human call center agents, or live receptionists
• Interactive Voice Response (IVR)
• Other AI voice technologies (voicebots)

While OpenAI's technology is impressive, it's currently much more expensive than other options. Here's a quick comparison:

1. OpenAI's new voice AI (Realtime Voice API): $60/hour
2. Human agents: $5-$30/hour
3. Existing AI voice providers: $7-$15/hour

The Verdict

For most businesses, OpenAI's new voice technology is probably too expensive to use right now, despite its advanced features. It's about 10 times more costly than other good AI options, without necessarily being 10 times better.

What to Do Instead

1. If you're happy with your current phone answering system, stick with it for now.
2. If you're looking to upgrade, consider more affordable AI voice technologies from companies like Seasalt.ai, Bland AI, or Retell AI.
3. Keep an eye on OpenAI's technology. In the future, the price may come down, making it a more practical option for businesses.

The most advanced technology isn't always the best choice for your business needs. Consider your budget, the quality of customer service you need, and how well a solution integrates with your existing systems before making any changes.

Thanks for reading! Those are our two cents on the new OpenAI Realtime API and its feasibility to be used as a customer service solution for small business owners.

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