Nuance software including the Dragon line of speech recognition software, is used in a variety of industries from automotive to health care and is used to transcribe voice mails, Doctor’s visits and customer service calls. For the fourth quarter the company earned $7 million on revenue of $346 million. For the fiscal year ended last September, Nuance had net income of $91 million on revenue of $1.48 billion after losing $2.17 billion over the previous fiscal year.
Anurag Rana, a Bloomberg Intelligence senior analyst, said, “This can really help Microsoft accelerate the digitization of the health-care industry, which has lagged other sectors such as retail and banking. The biggest near-term benefit that I can see is in the area of telehealth, where Nuance transcription product is currently being used with Microsoft Teams.”
Nuance helped provide Siri with the technology needed for the assistant to hear tasks requested by users and understand what was being asked. It is unclear what the current relationship is between Apple and Nuance.
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