Microsoft-Nuance Agreement: A New Boost for Voice Technology?

Microsoft-Nuance Agreement: A New Boost for Voice Technology?
            La decisión de Microsoft de adquirir la empresa de reconocimiento de voz Nuance Communications por 19.700 millones de dólares, la mayor compra de la compañía desde el pago de 26.000 millones de dólares de LinkedIn, podría dar a la tecnología un impulso real, dijeron los analistas.
“There are many companies and startups doing speech recognition, but Nuance has been a leader in this area for years,” said Blair Pleasant, COMMfusion president and senior analyst. He has the technology, the partnerships, the clients and the experience to succeed and grow. "Speech recognition as a tool has gained momentum in recent years, so it makes sense to claim a position in the voice technology and artificial intelligence markets, especially as competitors like Google, Amazon, and Apple have eclipsed Microsoft's efforts to many ways. (Nuance's software formed the basis of Apple's voice assistant, Siri, before Apple upgraded to an in-house version.) Microsoft, in a statement promoting the deal Monday, highlighted Nuance's use of "intelligence “environmental cloud-based clinic” in the healthcare industry. And Microsoft CEO Satya Nadella emphasized in a subsequent webcast to discuss the purchase. “Artificial intelligence is the most important technology and care priority Medical is its most urgent application," said Nadella. "Together, with our ecosystem of partners, we will put advanced AI solutions in the hands of professionals around the world to drive better decision making and create more meaning. connections, as we accelerate the growth of Microsoft Cloud in healthcare and Nuance. The deal gives Microsoft broad access to the healthcare industry, as Nuance's capabilities are already used by about 90% of US hospitals, according to a February financial statement from Nuance. This move supports Microsoft's ongoing efforts to deliver industry-specific cloud offerings to businesses that continue to adapt to the disruptions and opportunities created by the COVID-19 pandemic.These offerings include Microsoft Cloud for Healthcare, which first launched on last year.

The importance of voice technology

Microsoft has gotten its hands on voice technology ever since it released its virtual assistant Cortana in 2015 as part of the initial release of Windows 10. Since then, Cortana has evolved to support Android and iOS devices, the Xbox, the Edge browser, and headsets. Windows Mixed Reality. and third-party devices like smart thermostats and speakers. According to Microsoft, Cortana is currently used by more than 150 million people. More recently, the company has moved Cortana to position her more as an office assistant than for more general use. “Speech recognition is gaining momentum and will be used in all kinds of industries, from transcription to command and control types of applications, and acquiring a leading provider in this field makes sense. He noted that as users become more familiar with Amazon's Cortana, Siri and Alexa at home, they expect to see similar voice technologies at work. He also noted that Microsoft is one of the few companies that has the resources to acquire a company like Nuance, putting it ahead of rivals that might have wanted to do the same.

Health and beyond

Over the past year, the pandemic has caused an explosion in the need for speech recognition, and most video conferencing service providers now offer meeting transcription capabilities. And given the growing importance of the healthcare industry, acquiring a company with relationships with key industry players makes a lot of sense. “With an aging population, finding ways to improve healthcare processes and reduce costs is critical,” Pleasant said. “Reducing the time it takes to see patients, as well as the time spent on other associated work tasks and processes, will help reduce costs, which is essential.” Gregg Pessin, a senior Gartner senior analyst who works in the healthcare provider group, agrees. He argued that natural language processing capabilities for medical transcription set Nuance apart from other similar companies. While he doesn't see the acquisition as having a big impact on healthcare initially, given that Nuance is already an established player, Pessin sees voice as an important part of future human-machine interfaces and user experience. “It's about medical transcription, environmental digital scribes, interactive systems for patients, both in the style of [Interactive Voice Response} and for hospital applications as well as other solutions” said the style of [Interactive Voice Response} and applications for patients plus other solutions,” said [Interactive Voice Response} etpourlesapplications hospitalièresa insiqued'autressolutions » at-il declare[InteractiveVoiceResponse}styleandforin-patientapplicationsplusothersolutions”hesaidAlthough Nuance offers a market-leading product for the healthcare industry, its technologies can be used in other verticals. AI spending will reach €110,7 billion by 2024, according to an IDC study, with banking, manufacturing and healthcare accounting for almost half of that global figure. Ritu Jyoti, vice president of IDC's global AI and automation research program, believes that while Microsoft might initially focus on healthcare, in the longer term the company is likely to expand its reach. "Beyond healthcare, Nuance delivers artificial intelligence expertise and customer engagement solutions through interactive voice response (IVR), virtual assistants, and digital and biometric solutions to companies around the world in all industries." Jyoti said. "This experience will add to the breadth and depth of the Microsoft cloud, including Azure, Teams and Dynamics 365, to deliver next-generation security and customer engagement solutions."
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