Microsoft announced Monday, April 12th, 2021 that it is acquiring Nuance with a staggering $19.7 billion cash buy. The amount of the cash buy demonstrates the value and potential within voice technology and AI in a post-COVID world.
Nuance’s growth and reputation are tied directly to its success with speech recognition software, which uses deep learning to transcribe speech and improves its accuracy over time by adapting to a user’s voice. The focus of this acquisition is the acceleration of digital transformation for the healthcare industry. The CEO of Microsoft, Satya Nadella, specifically called out the potential and highlighted it as the key driver of the acquisition.
“When you think about the provider market… digital tech is going to be the key,” he told CNBC.
The interesting point about this acquisition is that Nuance already has Microsoft’s Azure woven into its software. In 2019, Nuance and Microsoft joined forces on a healthcare stack that included speech recognition and processing, clinical documentation, decision support, and Azure AI and natural language tools. Now, with this acquisition, Nuance and Microsoft are sure to integrate fully.
With this news, LumenVox, more than ever, is committed to a stack with flexibility, which is why:
Our multi-cloud approach provides the ultimate flexibility and choice.
We deploy on premise, in the cloud or Hybrid with both.
2020 has fundamentally transformed the way we live and work. Organizations, and the technology they use, are adapting at a record pace. The key to successful evolution is organizational agility. Here are four trends that will propel tech into 2021:
Shift to Total Experience (TX). You may have heard the term “multiexperience,” which refers to the shift from a singular screen and keyboard to a multimodal digital world, where technology surrounds you, going from your laptop to your phone to your tablet to your desktop and back again. TX takes that to another level; it keeps in mind each and every player in the experience game—employees, customers, users. Historically, these players have had immersive digital experiences, but they were separate. Imagine how much easier things would be if they were the same? That’s TX. At LumenVox, we are building our speech and authentication technology stack with multichannel and multimodal capabilities to address this demand in the remote workforce and contact center.
In a remote world, TX strategy will create a strong competitive advantage, as organizations with TX will outperform over the next three years.
Invest in Artificial Intelligence. Artificial intelligence is first and foremost a discipline, with any success stemming from an intense daily grind. However, that effort doesn’t always pay off. According to Gartner research, only 53% of projects make it to production, making it essential that companies put the extra time and engineering effort into AI projects. That’s why at LumenVox, Artificial Intelligence has always been a central component of our technology. Our speech recognition and voice biometric algorithms are built upon AI and Machine Learning principles so that our technology continuously evolves. LumenVox also has invested heavily in Research & Development, so we can deliver Artificial Intelligence technology which is robust, scalable, and easily deployed.
Cloud Enablement. At LumenVox, we have been ensuring our technology responds to the demands of multi-cloud environments so that organizations do not have to rely solely upon in-house IT infrastructure. Instead, they can provide their customers with LumenVox software via the cloud. In a post-COVID world, this is critical, as the world now runs remotely.
Prioritize Privacy. Privacy has always been a priority, but now that priority is marked urgent. Data protection legislation is maturing. In 2020 California finally implemented the California Consumer Privacy Act, signed into law in 2018. The CCPA is one of several state-mandated regulatory policies the US has implemented. Similar regulations appear in other countries whose model has been Europe’s GDPR rules protecting consumer privacy. This requires organizations to put more stringent controls in place to guard against threats and to protect users’ privacy. LumenVox provides advanced voice biometrics to add robust layers of security for organizations of all shapes and sizes, safeguarding sensitive business and consumer information.
In summary, it’s important for any business to always look ahead. The more a business looks toward the future in tech, the more it cannot just adapt and survive, but also thrive. LumenVox’ chief aim for 2021 is to assist businesses in their advancement by directly addressing these trends in voice technology.
Learn more about our full suite of technology here.
This month, LumenVox celebrated our 10th year of successfully renewing ISO 9001 certification for our European branch. The International Standards Organization creates standards for a wide array of businesses and technologies and ISO 9001 sets specific criteria for quality management. Any organization can work in accordance with the ISO 9001 standard, but you can also choose to be certified by an independent party (such as a certification body). At LumenVox, we take our adherence to such standards seriously, which is why we have chosen to be independently certified for the past ten years. In practice, we see six major benefits in choosing a certified ISO 9001 quality management system:
We have objective proof that LumenVox attaches great importance to quality. We also have objective proof that it has been regularly checked by an independent party. This commitment increases confidence in LumenVox, both internally and externally.
We achieve higher operational efficiency. Organizations that consider quality management to be an integral part of their business operations usually operate more efficiently than those that do not.
A certified ISO 9001 quality management system increases the quality of our services and raises our staff’s awareness of their own responsibilities.
A certified ISO 9001 quality management system ensures clear processes and (communication) structures, tasks, and responsibilities throughout the entire organization. This increases the involvement of our staff, which improves the working atmosphere.
LumenVox can detect and identify problems in good time, which means that we can quickly take steps to avoid the same mistakes in the future.
We make it clear to our staff, partners, clients, and the outside world that customer satisfaction is at the very core of our business.
At the end of each workday, our goal is to raise the bar with our speech and authentication technology. Adhering to internationally recognized standards in quality management enables us to do just this. To find out more about our philosophy and team, click here.
With slightly different formatting than previous years, the annual report is broken into two core maps (Platform Providers and Core Technology Providers) that intersect to create the 2020 Combined IAuth Solution Provider Intelliview Map. It might sound complicated at first but, it follows a very simple formula:
Vendors are assigned an oval that falls on one of the two key maps, with oval size dependent on financial strength, and position-dependent on the strategic potential and completeness/flexibility of a platform or technology. The two maps are then combined to provide a complete vendor positioning overview that separates the leaders from the challengers.
What is the difference between the two maps?
Platform Providers receive high marks for their complete solutions that address friction-free authentication.
Technology Providers receive high marks for offering technology that is easily incorporated (via connectors or APIs) into a client’s solution to address security and customer experience. This is where LumenVox excels.
While we’re capable of offering end to end solutions, such as our multifactor password reset functionality, LumenVox focuses on providing partners and clients with a comprehensive stack of interchangeable, state of the art voice technology, inclusive of active voice biometric authentication, passive voice biometric authentication, automated speech recognition (ASR), text-to-speech (TTS) and call progress analysis. Technology that is designed to enhance solutions – not compete with an organization’s revenue streams.
Where is LumenVox positioned on the Core Technology Providers Map?
With almost 20 years of experience, proprietary and world-class engines, native multifactor and multi-tenancy support, rapid delivery with a prebuilt agent interface that doesn’t require lengthy API integration, and deliverability via cloud, premise, or hybrid models, LumenVox was categorized as a leader in Strategic Potential and Product Completeness/Flexibility.
“Businesses need to deploy technologies that quickly authenticate legitimate customers in the course of ongoing conversations,” explained Dan Miller, Lead Analyst at Opus Research. “LumenVox scored highly in our evaluation of core technology providers thanks to the completeness of its product offerings and its flexible approach to deployment, spanning multiple applications, use cases, and partnerships.”
To learn more about the 2020 Intelligent Authentication and Fraud Prevention Intelliview and LumenVox’ position, contact us today.
LumenVox is pleased to announce we are now a Cisco SolutionsPlus Partner. This alliance officially recognizes the compatibility of LumenVox products and introduces them to the Cisco SolutionsPlus marketplace.
LumenVox and Cisco understand that companies desire simplification when it comes to offerings and execution. Customers prefer to buy a technology solution from a single source since bundled solutions drive a substantial percentage of overall technology revenue. With Cisco SolutionsPlus, a reselling program that features a select, strategic set of Cisco-approved products, customers can now order premium LumenVox technology at a reduced cost directly from Cisco sales teams and channel partners. The partnership provides a convenient, trusted, unified purchasing experience for end customers along with simplified ordering through Cisco Commerce Workplace (CCW).
By including ecosystem partners in their solutions, Cisco adds new consumption models to the portfolio, engages with new lines of business, and creates efficiencies of scale. Each product from LumenVox’ wide portfolio of contact center enhancing technology has undergone rigorous testing by Cisco and resulted in subsequent approval and listing on the Cisco Global Price List (GPL). Products listed include:
LumenVox Automated Speech Recognizer, which supports Natural Language Understanding
LumenVox text-to-speech / voice-enabled IVR platform, with multiple language capabilities
Call Progress Analysis, which allows the recognizer to analyze speech and automatically discern appropriate timing for IVR campaigns
Active Voice Biometric Authentication platform, which easily integrates into any existing Cisco SolutionsPlus infrastructure
“We are proud that our long relationship with Cisco has expanded into becoming a Partner in the Cisco SolutionsPlus Program,” said Edward Miller, CEO of LumenVox, “We know they vet products, and our Automated Speech Recognizer, Call Progress Analysis and Active Voice Biometric Authentication passed their rigorous testing. Through this partnership we can ensure Cisco’s consumer base has the ability to create and protect that clear line of customer communication over vulnerable voice channels.”
The LumenVox team comes from a wide range of backgrounds with a diverse set of skills. As LumenVox continues to expand, with increased productivity and the anticipation of growing Natural Language Understanding products, we have made Research and Development a priority so we can continue to deliver the most cutting-edge speech and voice biometric technology to our customers and partners.
With that in mind, we’d like to introduce our newest team member Joachim Hofer. Joachim comes to us with a wealth of experience and knowledge in deep neural networks, artificial intelligence and speech science.
His most recent tenure was acting product architect and researcher at Intel, since 2013. He was also Senior Software Engineer and Speech Scientist at VoiceBox Technologies, where he worked on the training of speech recognition models. Additionally, he has worked at SVOX, Siemens Corporate Research and Technology, and other renowned organizations dedicated to crafting the art of speech technology.
Joachim will bolster the LumenVox Europe team as an R&D Scientist. In this role he will contribute to the development of LumenVox’ own NLU engine, which aims to transform sentences, questions and other natural language texts into meaning representations so that programs can execute their intent.