Nuance Communications Overview
Company Headquarters: US
Founded: 1992
Workforce: ~10,400
Company Working: Nuance Communications, Inc. develops conversational and cognitive artificial intelligence (AI) solutions. The firm creates software that recognizes, analyses, and responds to people, enhancing human intelligence and boosting productivity and security. Its Healthcare division offers clinical speech and clinical language understanding technologies that help improve the clinical documentation process, from capturing the whole patient record to improving clinical documentation and reimbursement quality standards. dragon medical one, a cloud-based speech solution; computer-assisted physician documentation; diagnostic imaging solutions; Nuance dragon ambient experience, a voice-enabled solution; and clinical documentation enhancement and coding are just a few of the company's offerings. The company offers voice recognition and natural language understanding solutions, which includes automated speech recognition (ASR), natural language understanding (NLU) capabilities, dialog and information management, biometric speaker authentication, text-to-speech (TTS), and optical character recognition (OCR) capabilities.
The company's enterprise sector focuses on providing automated customer solutions and services for phone, mobile, web, and messaging channels, particularly employing speech, natural language understanding, and artificial intelligence. Intelligent engagement solutions, conversational AI, engagement AI, and security AI are among the company's offerings. The company's other division offers voicemail transcribing services. healthcare, financial services, telecommunications, government, and retail are among the industries served by the corporation. Nuance Communications, Inc. offers and sells its solutions and technologies through a network of resellers worldwide, including system integrators, independent software vendors, value-added resellers, distributors, hardware vendors, telecommunications carriers, and e-commerce Websites.
Microsoft Corporation purchased Nuance Communications for USD 19.7 billion in April 2021, boosting its healthcare position with a pioneer in voice recognition technology. Nuance's technology is used by more than 55 percent of physicians and 75 percent of radiologists in the United States. This acquisition builds on the two companies' current telemedicine collaboration, which began in 2019 and has been accelerated by COVID-19 lockdowns around the world.
Strategy
Nuance Communications is working on designing and developing solutions and technologies to create better experiences for customers and users by enhancing the user’s interaction and increasing productivity and customer satisfaction. It is planning to increase the incorporation of innovations in AI, including cognitive sciences and machine learning, to create smarter, more natural experiences with technology. Nuance has slimmed down its portfolio to focus on the healthcare and enterprise AI markets, where advanced conversational AI and ambient solutions are in high demand. The company concentrates on improving the accuracy in automated speech recognition, enhancing the capabilities for natural language understanding, dialog and information management, biometric speaker authentication, text-to-speech, and optical character recognition capabilities. It is focused on developing advanced analytics and algorithms to create personalized experiences and transform the way people interact with information and technology around them.
