It was suspected for a while that Microsoft was working on a big acquisition. The tech giant hadn’t made any acquisitions in nearly six months since it bought Zenimax Media. They only broke the drought to acquire Smash.GG and Marsden Group. Today we want to tell you what Nuance Communications is all about since Microsoft has left nearly 20 billion of them.
Nuance Communications at the forefront of artificial intelligence
We were all surprised that Microsoft decided to pay almost $ 20 billion for Nuance Communications. The reality is that the main focus of the company is Artificial Intelligence dedicated to the digitization of an operating system for the medical industry. This will allow Microsoft to help transform the medical system to a more digital world.
This purchase makes a lot more sense than when you were about to acquire TikTok or Pinterest. Also, both companies had worked in the past and it appears that this increased Microsoft’s interest in acquiring the company when they learned of its potential.
Another key point of Nuance is speech recognition, AI and speech processing for medical use. The company has doubled its efforts in the field of AI in healthcare in recent years. Now its CEO, Mark Benjamin, will report directly to Scott Guthrie, head of Microsoft Cloud and AI.
Health, a key element at Nuance
Microsoft is starting to enter healthcare, a market that tends to exhaust technologies by expanding them over time. In 2020, 62% of Nuance’s profits came from the medical sector.
The Redmond giant has started to work in the health sector with Microsoft Cloud for the health sector. Now, with the support of Nuance, you will grow significantly in this area. It is very interesting to see how Microsoft is specializing in different industries to modernize them with a cloud suitable for each industry.
Teams, another of the beneficiaries of the purchase
One of the collaborations between the two companies started with Teams. Nuance’s Dragon Ambient eXperience platform is linked to Microsoft Teams and of course to Microsoft Azure. In 2019, Nuance and Microsoft partnered in healthcare, which included speech recognition and processing, clinical documentation, Azure AI and decision support, as well as natural language tools.
With this technology, the automation of administrative tasks is achieved. This depletion was only magnified during the COVID-19 pandemic. Ultimately, both Nuance and Microsoft want to deliver a modern clinical experience. The combination of Microsoft services and Nuance Dragon Ambient eXperience (DAX) is delivered as an Environmental Clinical Intelligence (ACI) platform.
This environmental clinical expertise is designed to take into account physician-patient interactions and produce clinical reports and automate documentation, as well as electronic health records.
Siri and Swype’s father at the service of Microsoft
In addition to the products that we have already indicated, Nuance is known to be the father of Siri. Nuance’s technology brought Apple’s voice assistant to life and could help improve not only potential voice assistants from Microsoft, but those it offers to other companies as well.
Swype was acquired by Nuance Technologies and while they failed to make the project profitable, it wouldn’t be surprising if the Redmond giant saved some ideas to incorporate them into Swype.
A cloud designed for every industry
Microsoft is not the most original on the market. Other cloud providers are striving to offer industry specific clouds. This same game was made by others like SAP and Oracle in the first place and has now become a staple for Salesforce, ServiceNow and Microsoft as well.
At an investor conference in January, Benjamin spent a lot of time talking about DAX, which is likely to become the foundation for Microsoft’s healthcare efforts. The CEO of Nuance said:
While the technology behind DAX is certainly revolutionary for healthcare, the user experience is very straightforward. DAX’s environmental recording process allows a clinician to focus their full attention on the patient throughout the interaction, virtually or in person, rather than spending time taking notes.
DAX does all of the work from there, and the doctor shortly thereafter receives a full clinical note that only requires the final examination and the doctor’s signature.
The benefits go even further, giving them time back in their day, improving their satisfaction and reducing burnout.
Additionally, Nuance’s Dragon platform has been widely adopted in the healthcare industry, as voice has always played a key role. We’ll see if this purchase is picked up at some point.