Neusoft and Cerence Sign AI Collaboration Agreement to Enhance Smart Vehicle Interaction
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Collaboration Agreement: Neusoft and Cerence AI have signed a Memorandum of Understanding to collaborate in the field of large language model-based voice AI, aiming to provide intelligent interaction solutions for global automotive partners to meet rising user demands.
- Technological Integration: Neusoft will leverage its advanced intelligent cockpit software platform, NAGIC, to deeply integrate Cerence's expertise in conversational AI and generative AI, enhancing natural language interaction experiences within vehicles and setting new industry standards.
- Market Expansion Plans: By combining Neusoft's global product development network with Cerence's technological strengths, the two companies plan to jointly expand into global target markets, helping automakers tackle market challenges and deliver safer, more natural mobility experiences.
- Open Collaboration Philosophy: Neusoft will continue to uphold its philosophy of
Analyst Views on CRNC
Wall Street analysts forecast CRNC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRNC is 10.50 USD with a low forecast of 10.00 USD and a high forecast of 11.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 11.020
Low
10.00
Averages
10.50
High
11.00
Current: 11.020
Low
10.00
Averages
10.50
High
11.00
About CRNC
Cerence Inc. is a provider of artificial intelligence (AI)-powered assistants for connected and autonomous vehicles. The Company builds AI-powered virtual assistants for the mobility/transportation market. Its software platform is used to build virtual assistants that can communicate, find information and take action across an expanding variety of categories. Its software platform has a hybrid architecture combining edge software components with cloud-connected components. Its Edge software components are installed on a vehicle’s head unit and can operate without access to external networks and information. Its Cloud-connected components comprise certain speech and natural language understanding-related technologies, AI-enabled personalization and context-based response frameworks, and a content integration platform. Virtual assistants built with its software platform address user requests across various categories, such as navigation, control, media, communication, and more.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
