Zoom, for example, offers automatic transcription via integration with third-party services like Otter.įor Microsoft, which makes roughly two-thirds of its revenue from enterprise software sales and cloud computing, improving its transcription services for scenarios like these makes complete sense. With so many meetings taking place via video, it is easier to offer customers transcriptions via software integrated directly into these calls. The uptick in remote work has also created new opportunities. It comes at a time when speech tech is improving rapidly, thanks to the deep learning boom in AI, and there are simultaneously more opportunities for its use.ĭigital transcription has improved rapidly in recent years, thanks to advances in AIĭigital transcription has become more reliable in a range of settings, from medical consultations to board meetings and university lectures. The $19.7 billion acquisition of Nuance is Microsoft’s second-largest behind its purchase of LinkedIn in 2016 for $26 billion. (Though to what degree Siri currently relies on Dragon to answer users’ queries is unclear.) Dragon is an industry leader in terms of transcription accuracy. Nuance has licensed this tech for many services and applications, including, most famously, Apple’s digital assistant Siri.
Nuance is best known for its Dragon software, which uses deep learning to transcribe speech and improves its accuracy over time by adapting to a user’s voice. Microsoft will pay $56 per share for Nuance, a 23 percent premium over the company’s closing price last Friday. Microsoft is buying AI speech tech firm Nuance for $19.7 billion, bolstering the Redmond, Washington-based tech giant’s prowess in voice recognition and giving it further leverage in the health care market, where Nuance sells many products.
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