Fast Company April 14, 2021
The tech giant bought speech AI pioneer Nuance as part of a push into healthcare. But transformational speech transcription algorithms may still have a long way to go.
On Tuesday, Microsoft announced it had acquired Nuance Communications for $16 billion. Nuance is a pioneer in the field of advanced medical transcription, but the technology is still young. The battle to reduce the administrative burden for doctors using artificial intelligence is intensifying, and the acquisition could position Microsoft well to compete against other tech giants as they jostle for dominance within healthcare.
Nuance has a long history as a medical transcription service and has invested heavily in voice recognition technology. The hope is that its technology could potentially reduce the number...