Yahoo Finance Cerence (CRNC) Launches Voice Biometrics in Assistant Solution
Cerence CRNC recently launched an advanced, artificial intelligence (AI)-enabled biometrics engine into its Cerence Assistant solution to provide improved personalization and security capabilities for the mobility experience of the drivers and passengers.
With the latest enhancement, Cerence Voice Biometrics can accurately build driver profiles, identify the speaker and ensure deep opportunities for safe, secure and individualized interactions with the in-car assistant. The solution, available across a multitude of global languages, allows the Cerence Assistant to perform transparent, proactive enrollment and easy sign-in.
The Cerence Voice Biometrics acts as a key tool for conducting secure payments if integrated with in-car commerce apps. It further features automatic adaption of dialogue and infotainment system language by the Cerence Assistant to match spoken language of the users, providing users a natural interaction experience.
The Cerence Exterior Vehicle Interaction, a suite of AI and voice-powered innovations that enables drivers to interact with the cars from the outside, also leverages the voice biometrics solution to restrict certain capabilities after user approval only. This solution was launched in September to combine speech recognition, natural language understanding, text-to-speech, speech signal enhancement and voice biometrics on outside of modern cars and enable a new set of use cases.
Cerence Inc. Price and Consensus
Cerence Inc. price-consensus-chart | Cerence Inc. Quote
Recent Deals
Last month, the company revealed that it will partner with Yanfeng Visteon Automotive Electronics Co. Ltd. to provide AI-powered communication technologies for SAIC-GM’s Buick CENTURY. Through a separate announcement, it disclosed that Cerence Tour Guide, an AI-powered application for automotive assistants bringing professional, guided tour content directly into the car, is powering interactive tourism content in Mercedes-Benz AG’s intuitive multimedia system, MBUX.
In January, Cerence and what3words declared the continued strategic partnership to supply its voice-powered navigation solution to leading automakers across the globe.
In October, Cerence signed a multi-year agreement with Renault Group to build the automaker’s next-generation co-pilot. Before that, in the same month, the company entered into a partnership with WFCO Electronics to create a first-of-its-kind digital cabin experience for recreational vehicles.
Earlier in September, one of the leading Chinese motorcycle makers, CFMOTO, selected the company’s conversational AI platform for two-wheelers, Cerence Ride to implement it across all its two-wheelers and all-terrain vehicles.
Cerence Ride is an AI-powered two-wheeler mobility platform that can be used as an extended interface that seamlessly connects to riders' mobile devices, providing the riders with distraction-free navigation, route planning and riding records. It also provides Android, Linux and iOS support and Bluetooth headset connectivity.
In the December-ended quarter, Cerence reported revenues of $83.7 million compared with the year-ago quarter’s $94.4 million. The Zacks Consensus Estimate for the company’s second-quarter fiscal 2023 revenues is pegged at $66.3 million, indicating a 23.1% year-over-year decline.
Zacks Rank & Key Picks
Cerence currently carries a Zacks Rank #3 (Hold). Shares of CRNC have lost 27.4% in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB, Baidu BIDU and Fabrinet FN. While Airbnb and Fabrinet sport a Zacks Rank #1 (Strong Buy), Baidu has a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 30 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 30 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 27% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 6.5% in the past year.
The Zacks Consensus Estimate for Baidu’s first-quarter 2023 earnings has been revised 17 cents northward to $2.60 per share over the past 30 days. For 2023, earnings estimates have fell by 0.8% to $11.53 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 45.5%. Shares of the company have increased 0.1% in the past year.
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