Commercialization Report - Prepared March 2011

The Indiana Economic Development Corporation commissioned a commercialization report performed by Foresight Science & Technology (completed March, 2011). The final report showed that there is strong evidence to support the entry of Waveform Communications into the speech recognition and speech in noise markets. There are a large number of security and communication advantages to be gained from successful language processing including computer speech recognition, talker identification, improving speech in noise by reducing perceptual errors, etc. There are challenges in the development and the competition is well established in the commercial markets, but the algorithm already developed which is identifying 393 vowels out of 396 in 1.2 seconds is justification for entering the communication markets. The increase in speed and accuracy will likely have an impact in existing applications before the Waveform Model is developed into new and unique applications.

An example of the application possibilities was discussed in detail in the Foresight commercialization report. The explanation of perceptual errors by the Waveform Model has led to a method to improve speech perception in noise by 8-10%. Foresight's market research and field research (including interviews with experts) showed that there is a potential of $5 per phone for improving speech in noise. The projected revenue for year one was $5 million dollars and increased by year 5 to $100 million dollars per year. This is a demonstration of the potential development opportunities from the innovation of the Waveform Model. A number of applications will be developed from understanding processing at the most fundamental level, and language modeling is a significant part of that development.

Additional excerpts from the report are available upon request and will be added to this site soon.