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AI Eye Episode 412: Nuance (NasdaqGS: $NUAN) Announces Availability of Dragon Speech Recognition Solution and BrainChip Partners with 3D Sensor Developer Magik Eye

 

Point Roberts, WA and Vancouver, BC - August 17, 2020 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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AI Eye Episode 412: Nuance (NasdaqGS: $NUAN) Announces Availability of Dragon Speech Recognition Solution and BrainChip Partners with 3D Sensor Developer Magik Eye

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (NasdaqGS:NUAN) (ASX:BRN)

Nuance Communications, Inc. (NasdaqGS:NUAN) has announced the availability of its next-generation AI-powered cloud-based Dragon Professional Anywhere speech recognition solution in the United States across multiple markets "including law enforcement, social services, financial services, and legal." Joe Petro, CTO, Nuance, explained:

"Because the world's workforce is operating in new and unprecedented ways, it's crucial to equip organizations of all sizes with solutions that allow for seamless, secure business continuity. Dragon Professional Anywhere offers scalable deployment options, helping companies reduce costs, realize productivity gains, and improve customer care for industries worldwide."

BrainChip Holdings Ltd (ASX:BRN) has partnered with 3D sensor developer Magik Eye Inc., to "market a breakthrough solution for object detection, object classification and gesture recognition," based on the latter's Invertible Light 3D depth sensing technology and the former's Akida neuromorphic processor. Takeo Miyazawa, founder and CEO of MagikEye, said:

"By combining the strengths of BrainChip's Neural Network capabilities with MagikEye's Invertible Light, we are excited about the game-changing benefits that customers will experience, in terms of a total 3D vision solution for robotics, machine vision and many other new applications."

Global Conversational AI Market to Reach $14.26 Billion by 2026

A report published by Research and Markets finds that the global Conversational AI market will reach $14.26 billion by 2026, registering a compound annual growth rate (CAGR) of 19.9 percent in the forecast period 2019-2026. An excerpt from the report description reads:

Conversational AI is the utilization of speech-based assistance, messaging apps, chatbots to make the content to be automated. It also personalizes the user experience at a level. Conversational AI accounts for an important place in personal assistance activities. It can analyze the open interactions when relating it with the scenario or case. Companies are utilizing AI innovation by using a blend of NLU and ML, which empowers the assistants to be trained with industry-explicit information and extraordinary business information for an increased time to market.

Factors such as increasing demand for AI-powered customer support services and rising demand for AI-based chatbots to stay connected and informed during the COVID-19 are driving the market growth. However, lack of awareness about conversational AI solutions is hampering the market growth.

Sam Mowers, Investorideas.com

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