When Microsoft CEO Satya Nadela spoke to investors on Monday about her company’s plans to acquire a speech-recognition expertise A little At billion 1 billion, he emphasized the importance of it Artificial intelligence Healthcare.
Nanance’s software listens to the physician-patient conversation and transcribes the speech into organized digitalized medical notes. This helps explain even the hefty price tag Voice recognition Has become productive and now comes packaged with every smartphone and laptop. But Microsoft You will also see more broad possibilities for Nuance’s technology.
Greg PesinThe deal gives Microsoft “a point of entry into the healthcare industry and already has a huge customer base running these huge components,” said one analyst, including Gartner.
Siri and Alexa understand your grocery list, but Pasin says Nuanas Technology has spent time and effort developing technologies that realize the specialized language of medicine; Copying from other companies will not be easy, he says. “It’s important and difficult to understand the process of powering the AI engine power system treatment jargon – I think that’s the real gem.” Passin said Nuanas could be able to develop a system parallel to other industries according to their laws.
Nuance’s voice transcription technology has been used by more than 300,000 clinicians and 10,000 healthcare organizations worldwide, according to the latest data from the organization. Financial report, For the year ending September 2020.
These relationships lead Microsoft to a market that promises billions of dollars every year. A Report from IDC Global spending on AI, published in August 2020, will more than double from $ 0.1 billion by 2020, and by 2022 it will be called health care. Microsoft said in a statement that the acquisition would double the value of the healthcare market to 500 500 billion.
Healthcare is widely seen at Key industry for applied AI. Numerous research studies show the possibility of looking at AI algorithms Image disease Or Mine Medical Records For insight into treatment. And when challenges remain, e.g. Getting doctors to rely on technology Or resistant In the bias that creeps While the data used to train medical algorithms is inadequately varied, an increasing amount of AI is likely to be deployed in healthcare in the coming years.
Voice recognition The understanding of natural language has improved significantly in recent years due to the progress of AI. The technology has been around for decades, but new machine-learning methods have made it easier for machines to reliably train speech detection. Founded in 1999, the firm faces growing competition from companies such as Nuance Google and Amazon, but also has respect for the technology and experience in selling niche markets.
“The healthcare business is huge, and that’s probably the main reason Microsoft is buying Nuance,” he says. Ian Jacobs, An analyst at Forrester. “But the price reflects all the overall value of the nuance that it does.”
In addition to healthcare software, Nuance creates a platform for building Chatbots, Voice-based authentication technology and call center tool for conversation monitoring. Jacobs said the ট্যাগ 16 billion price tags reflect the broad potential of the technology, as well as the growing importance of AI for healthcare.
Jacobs said the deal could also reflect an expectation that more healthcare would be provided on the Internet. “Telehealth has become more acceptable – it’s not going away,” Jacobs said. He believes that Microsoft can bet that more sophisticated forms of AI will eventually be able to trace patients before seeing a physician or that physicians will advise professionals in real time. “Think about the clinician’s ability to enhance skills,” he says.
Dan Miller, a top analyst Opus research, Agrees that Nuance offers more than just a way to reach physicians, and says it fits Microsoft’s strategy of selling II and cloud software in specific industries. “There is a lot of contradiction here,” he said. “Is the price right? It’s just about executions and the way Microsoft manages to fit in with what they’re doing. “
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