Google has been frivolously working on their voice search technology for a number of years now. I remember purchasing the very first Droid phone (G1) that came out a few years ago and the voice search feature was so bad it was laughable. Now on my new Droid phone (Galaxy s) the feature works very well.
Google has recently installed this voice search feature right into internet search bar so you can now use it directly from your desk. Those hard to type long tail search queries can now be simplified with the click of a button and a microphone.
Google Voice Search Video
Will this change the SEO industry?
Who knows? It is something we will not know until it has been in the field for a certain period of time and we can slowly dissect the data on how people search. Could it cause someone to make one less inquiry or execute one additional inquiry? Sure it can. It all really depends on how well the technology works. I have not yet tested it but I will very soon to see how the user experience and search process carries out.