#AIEye
Episode 412: Nuance (NasdaqGS: $NUAN) Announces Availability of Dragon Speech
Recognition Solution and BrainChip Partners with 3D Sensor Developer Magik Eye
Global
Conversational AI Market to Reach $14.26 Billion by 2026
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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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