Microsoft enters the Dragon’s den with Nuance acquisition
The $19bn acquisition of Nuance firmly vegetation Microsoft at the forefront of teach recognition. The stage is decided to combine teach with man made intelligence
Microsoft has made its 2nd-largest acquisition ever with the $19bn steal of teach recognition specialist Nuance, the corporate late Dragon speech recognition.
Microsoft’s acquisition of Nuance builds on the partnership formed by the corporations in 2019. Thru the deal, Microsoft said it plans to bolster Microsoft Cloud for Healthcare with teach recognition technologies from Nuance and procure better the expend of teach within the digital healthcare records (EHR) market.
As Nuance teach recognition instrument is integrated with Microsoft’s enterprise instrument, the corporate moreover sees a likelihood to develop the marketplace for Azure AI and its diversified cloud offerings.
In accordance to a most popular forecast from Statistica, the global teach recognition market is forecast to develop from $10.7bn in 2019 to $27.16bn by 2025, a compound annual enhance rate of 16.8%.
While its Cortana teach assistant is constructed into Dwelling windows, Microsoft sees a likelihood to embed teach in its collaboration instruments and enterprise products. In the user and real markets, Nuance is identified for its Dragon speech to text dictation intention. However healthcare is an pickle whereby the speech recognition company has specialised, consequently of the scope and accuracy compulsory to heed scientific vocabulary.
Microsoft said the acquisition would double its total addressable market (TAM) within the healthcare provider pickle, bringing the corporate’s TAM in healthcare to almost $500bn.
At the side of rising teach technologies into EHR, Scott Guthrie, govt vice-president of cloud and man made intelligence (AI) at Microsoft, said Nuance might well be integrated with Microsoft’s AI technologies. Such integrations might well enable conversations between sufferers and clinicians to be transformed from audio into machine-readable text, which will then be analysed the expend of AI. “Healthcare companies will most likely be in a space to use more time specializing in sufferers,” he said.
All the contrivance by an investor call masking the acquisition, Guthrie described how Nuance will most certainly be old fashion to energy ambient clinical intelligence, integrated with Microsoft Groups. For instance, he described how a radiologist’s teach notes of a scientific scan will most certainly be captured and analysed alongside image diagnosis of the scan.
Beyond healthcare, Microsoft sees diversified opportunities in real products and services equivalent to the put a monetary consultant is in a space to combine knowledge from a dialog with a consumer with product and market knowledge. For Guthrie, combining Nuance’s interactive teach response (IVR) instrument with Microsoft cloud will most certainly be utilized all over any industry, to lengthen Dynamics 365 enterprise instrument and Groups collaboration with recent AI capabilities and teach biometrics to decrease fraud.
Commenting on the acquisition, Lian Jye Su, man made intelligence and machine studying main analyst at tech market advisory firm ABI Analysis, said: “Right here’s a recognition from Microsoft on the price of conversational AI in its future roadmap. Microsoft has attempted to avoid wasting its have conversational AI within the past by Cortana. The corporate moreover got conversational AI startup Semantic Machines in 2018.
“On the opposite hand, all these have yet to enable Microsoft to duplicate the success of Amazon, Google and Apple within the user pickle and IBM within the enterprise pickle, and to compete without extend with them. Microsoft is moreover feeling the likelihood from the conversational AI capabilities demonstrated by AI avid gamers in China, equivalent to Alibaba, Baidu, iFlyTek, Mobvoi, Zhuiyi and Unisound. The acquisition of Nuance Communications will elevate Microsoft’s capabilities and enable Microsoft to avoid wasting each user and enterprise-focused conversational AI solutions.”
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