Amid AI Focus, Nuance to Spin Off Unit, ‘Wind Down’ Consumer Devices
Nuance Communications will spin off its automotive voice-control business as a separate publicly traded company in late 2019 and “wind down” its subscription revenue services and consumer device operations because they're “non-core” to Nuance’s artificial intelligence “strengths” in “conversational AI…
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solutions,” said CEO Mark Benjamin on an earnings call. The company will manage royalty contracts in consumer devices “and seek opportunities to monetize IP and source code in one-time deals,” he said Monday. Its voice and virtual assistance technology for car infotainment and communication systems is in more than 50 million new cars yearly “and can be found in more than 200 million cars,” said Benjamin.