Categories: Miscellaneous

Microsoft buys AI speech tech company Nuance for $19.7 billion

Microsoft has made its second-biggest acquisition after LinkedIn. The tech giant has bought AI speech tech firm Nuance for $19.7 billion. The move will help Microsoft’s prowess in voice recognition and will give it a boost in the health care market. Nuance is known for its Dragon software which helps to transcribe speech using deep learning. In 2016, Microsoft had purchased LinkedIn for $26 billion.

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About the acquisition:

The acquisition will combine solutions and expertise to deliver new cloud and AI capabilities across healthcare and other industries, and represent the latest step in Microsoft’s industry-specific cloud strategy.
Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI.
Nuance’s products include multiple clinical speech recognition software as a service (SaaS) offerings built on Microsoft Azure. The firm’s solutions work with core healthcare systems, and are currently used in 77% of U.S. hospitals.

Important takeaways for all competitive exams:

Microsoft CEO: Satya Nadella;
Microsoft Headquarters: Redmond, Washington, United States;
Nuance CEO: Mark D. Benjamin;
Nuance Headquarters: Massachusetts, United States;
Nuance Founded: 1992, United States.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.