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Cerence (CRNC) Inks Strategic EV Partnership with Mahindra

Cerence Inc. (NASDAQ:CRNC) is one of the 15 successful spin-off companies. On July 1, the company announced a strategic partnership with Mahindra. The partnership paves the way for the integration of the company’s Audio AI technology into Mahindra’s new electric SUV’s.

A scientist at a computer station, surrounded by a neural network of artificial intelligence code.

Cerence Speech Signal Enhancement (SSE) enhances in-car voice interactions by leveraging artificial intelligence-based speech enhancement and advanced acoustic processing. The technology is especially suited for India’s noisy road conditions as it ensures clean communication between vehicle occupants.

The strategic partnership presents a significant opportunity for Cerence to demonstrate the adaptability of its technology in challenging environments. Additionally, it will enhance the company’s footprint in emerging markets.

“Cerence Speech Signal Enhancement is the foundation of meaningful interaction in the car, decreasing noise and therefore increasing the assistant’s ability to understand the user,” said Nils Schanz, EVP, Product & Technology, and Cerence AI. “Accuracy of interactions and the assistant’s ability to understand what is being asked are critical to driving long-term usage and adoption of in-car assistants, and we are proud to partner with Mahindra to help create this with their drivers and passengers.”

Cerence Inc. (NASDAQ:CRNC), spun off from Nuance, is a technology company that develops AI-powered interaction solutions for use across transportation networks. It works with the world’s leading automakers and mobility OEMs to drive innovation in the car, two-wheeler, and truck user experience.

While we acknowledge the potential of Cerence Inc. (NASDAQ:CRNC) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRNC and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best Consumer Goods Stocks Billionaires Are Quietly Buying and Goldman Sachs Penny Stocks: Top 12 Stock Picks.

Disclosure: None. This article is originally published at Insider Monkey.

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