Earlier last year, Microsoft announced that the company has reached an agreement to acquire Nuance Communications worth $19.7 billion. In case you didn’t know, Nuance is an AI and cloud company focused on building healthcare products. Although Microsoft’s initial goal was to complete the deal by end of last year, it was delayed by couple of months. However, the deal is now finally complete as of today.
At the time of acquisition, Microsoft had emphasized its commitment towards shared vision. As both of the companies share a vision of building AI- and cloud-powered assistive technologies, it wasn’t particularly surprising to see Microsoft acquiring the company.
The acquisition will see Microsoft building on the foundation as both companies are looking to work together to improve patient experience, automate clinical documentation, and develop efficient telehealth applications. Additionally, the contact centers solutions are being powered and secured through Microsoft Cloud, enabling fraud detection via various forms of biometric authentication.
On the retail side of things, the companies are looking to improve supply chain visibility thus improving shopping experience. In order to achieve that, they are looking to offer AI solutions that will reduce costs while improving network latency and efficiency.