Cerence Inc. CRNC recently announced that the leading Chinese motorcycle maker, CFMOTO, has selected its conversational AI platform for two-wheelers, Cerence Ride. The Chinese motorcycle maker will implement the Cerence Ride platform 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 them with "distraction-free" navigation, route planning and riding records. It also provides Android, Linux and iOS support and Bluetooth headset connectivity.
Following the latest deal win, the experience of CFMOTO riders will get transformed through Cerence Ride’s conversational AI technology that enhances safety and comfort, making the ride more delightful. This tool will enable riders to gather information related to two-wheeler-centric and voice-powered navigation, system controls and diagnostics via voice and cloud-based content.
Further, with the Massachusetts-based company’s unique two-wheeler platform, CFMOTO will integrate human-machine interface solutions into its two and four-wheel vehicles. This will consist of hybrid embedded, cloud speech recognition, natural language understanding and text-to-speech in both English and Chinese, to make the user experience intuitive yet simple. Additionally, CFMOTO will bring Cerence’s Speech Signal Enhancement solution to make sure that the riders are heard amidst the noisy roads.
Cerence Inc. Price and Consensus
Cerence Inc. price-consensus-chart | Cerence Inc. Quote
In third-quarter fiscal 2022, Cerence reported revenues of $89.04 million compared with the year-ago quarter’s $96.8 million. The Zacks Consensus Estimate for the company’s fiscal fourth-quarter revenues is pegged at $55.1 million, indicating a 43.9% year-over-year decline.
Zacks Rank & Stocks to Consider
Cerence currently carries a Zacks Rank #4 (Sell). Shares of CRNC have plunged 82.3% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Clearfield CLFD, Silicon Laboratories SLAB and EPAM Systems EPAM, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
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