Microsoft has confirmed to MCV that Kinect will not boast any voice control functionality at launch.
Speaking at Gamescom, marketing manager for Xbox Live EMEA Robin Burrowes stated that “we will be announcing when voice control will be turned on in due course”
http://www.mcvuk.com/news/40584/No-voice-control-for-Kinect-launch
UPDATE: MCV can also confirm that chat software Video Kinect will also not feature as part of the accessory's launch. Like voice control, that will also arrive at a later date