Nuance also offers widely known personal speech-recognition software Dragon NaturallySpeaking, which is indispensable to many individuals with a wide range of physical impairments.
Acquiring Nuance offers Microsoft direct access to the businesss entire health care client list. It likewise provides Microsoft the chance to press Nuance technology– currently, mainly utilized in the US– to Microsofts own big global market. Subtlety chief executive Mark Benjamin– who will continue to run Nuance as a Microsoft division after the acquisition– explains it as an opportunity to “superscale how we change an industry.”.
After Microsoft researchers Dong Yu and Frank Seide successfully applied deep-learning methods to real-time automatic speech acknowledgment in 2010, Dragon– now Nuance– applied the very same techniques to its own speech-recognition software.
Quick forward to today, and according to both Microsoft and Nuance, medically targeted versions of Dragon are in usage by 77 percent of medical facilities, 75 percent of radiologists, and 55 percent of doctors in the United States.
Microsofts acquisition play
Microsoft and Nuance began a partnership in 2019 to deliver ambient scientific intelligence ( ACI) innovations to health care service providers. ACI technology is planned to lower doctor burnout and increase performance by offloading administrative tasks onto computer systems. (A 2017 research study released in the Annals of Family Medicine documented physicians generally investing two hours of record-keeping for every single hour of actual patient care.).
Obtaining Nuance offers Microsoft direct access to the companys entire health care customer list. It likewise provides Microsoft the opportunity to press Nuance innovation– currently, mostly used in the US– to Microsofts own large global market. Nuance chief executive Mark Benjamin– who will continue to run Nuance as a Microsoft division after the acquisition– explains it as a chance to “superscale how we alter a market.”.
The relocation doubles Microsofts total addressable market in the health care vertical to nearly $500 billion. It also weds what Microsoft CEO Satya Nadella explains as “the AI layer at the health care point of shipment” with Microsofts own enormous cloud infrastructure, consisting of Azure, Teams, and Dynamics 365.
The acquisition has been unanimously approved by the boards of directors of both Nuance and Microsoft and it is anticipated to close by completion of 2021.
Earlier today, Microsoft announced its strategies to acquire Nuance for $56 per share– 23 percent above Nuances closing cost last Friday. The deal includes up to a $16 billion money expense and a total valuation for Nuance of about $19.7 billion, including that businesss presumed debt.
Who is Nuance?
Increase the size of/ In this 2006 photo, Rollie Berg– who has incredibly limited use of his hands due to multiple sclerosis– utilizes Dragon NaturallySpeaking 8 to communicate directly with his PC.Nuance is a well-known gamer in the field of natural language recognition. The companys innovation is the core of Apples Siri individual assistant. Nuance also sells popular personal speech-recognition software application Dragon NaturallySpeaking, which is vital to numerous people with a wide variety of handicaps.
Dragon NaturallySpeaking, initially released in 1997, was among the first commercially continuous dictation items– indicating software that did not require the user to pause briefly between words. In 2000, Dragon Systems was acquired by ScanSoft, which got Nuance Communications in 2005 and rebranded itself as Nuance.
Earlier variations of Dragon software application utilized covert Markov designs to puzzle out the meaning of human speech, however this method had severe restrictions compared to modern AI algorithms. In 2009, Stanford researcher Fei-Fei Li produced ImageNet– a massive training information set that generated a boom in deep-learning algorithms used for contemporary, core AI tech.
Enlarge/ In this 2011 photo, Dr. Michael A. Lee utilizes Dragon Medical voice-recognition software application to enter his notes after seeing a patient.