Microsoft will make another multi-billion dollar acquisition. A month after the deal to buy ZeniMax for $ 7.5 billion, the giant will buy AI company Nuance. The shares will be repurchased for $ 56 per unit for a total of $ 19.7 billion. The deal is expected to be completed this year. Nuance CEO Mark Benjamin will remain CEO and report to Microsoft’s cloud and artificial intelligence chief Scott Guthrie.
In addition to healthcare, Nuance is known for developing artificial intelligence for speech recognition, encompassing virtual assistants (Apple Siri), interactive voice response technology, and digital and biometric software across many industries. This is the second-largest purchase in the history of the giant. In 2016, the corporation paid $ 26 billion for LinkedIn.
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The game-changing product is the Nuance Dragon Ambient Experience or DAX, released in February 2020. Previous offers force physicians to use tools to copy notes, spend hours at the end of the day filing paperwork, and DAX takes the administrative burden off their plate.
At each visit, the system records voice conversations between physicians and patients, then triggers AI to find the appropriate context for the discussion and automatically generates detailed clinical documentation for review. All the doctor has to do is sign off. At least for doctors, AI-powered Panasia seems to be here right now.
In the meantime, if Microsoft is able to complete a Nuance on its own without much trouble, it will add the expertise needed to lead the next wave of catastrophic innovation. This is a worthwhile endeavor.
