Welcome to our dedicated page for Cerence news (Ticker: CRNC), a resource for investors and traders seeking the latest updates and insights on Cerence stock.
Cerence Inc. (NASDAQ: CRNC), also known as Cerence AI, stands as a global leader at the forefront of artificial intelligence for the transportation industry. The company specializes in creating intuitive and seamless AI-powered experiences, primarily for the automotive sector and beyond. With decades of expertise in voice recognition, generative AI, and large language models, Cerence is dedicated to making journeys safer, more connected, and more enjoyable for drivers and passengers worldwide.
Cerence's core business revolves around its CaLLM™ (Cerence Automotive Large Language Model) family of language models, powering advanced in-car assistants. These solutions enable natural and intelligent conversations within vehicles, enhancing user experience through voice-activated controls, information access, and personalized interactions. The company's technology is deployed in over 500 million cars globally, demonstrating its significant market reach and the trust placed in its innovations by leading automakers and transportation OEMs.
Recent announcements highlight Cerence AI's ongoing growth and strategic initiatives. The company has solidified a multi-year agreement with JLR to co-develop the next generation of luxury in-car experiences, further cementing its position in the premium automotive segment. Furthermore, an expanded collaboration with NVIDIA leverages the NVIDIA AI Enterprise platform to optimize the performance and scalability of Cerence's CaLLM models, ensuring cutting-edge AI capabilities for its automotive partners. Financially, Cerence AI has demonstrated proactive cash management, as evidenced by the strategic repurchase of convertible senior notes, aimed at reducing debt and optimizing its balance sheet for long-term financial health.
The appointment of Tony Rodriquez as the permanent Chief Financial Officer underscores Cerence AI's commitment to strong financial leadership and strategic growth. Mr. Rodriquez brings extensive experience and a proven track record in financial management, strengthening the company's executive team. Cerence AI continues to focus on innovation, expanding its product offerings, and delivering value to its automaker customers through advanced AI solutions that redefine the in-car experience.
Headquartered in Burlington, Massachusetts, with a global presence, Cerence AI is committed to pushing the boundaries of AI innovation in transportation, shaping the future of connected and intelligent mobility.
Cerence has partnered with WFCO Electronics to develop a groundbreaking digital cabin experience for recreational vehicles (RVs). This collaboration aims to integrate Cerence's conversational AI with WFCO's expertise in RV electronics, enhancing safety, comfort, and productivity for RV users. The new voice-enabled platform is set to be introduced in 2023, providing a seamless in-vehicle experience. This marks Cerence's expansion beyond the automotive sector, tapping into the growing RV market.
Cerence Inc. (NASDAQ: CRNC) announced that Jennifer Salinas, Senior VP and General Counsel, has been recognized as one of the Association of Latino Professionals For America's 2022 Most Powerful Latinas. Honored in the Corporate Trailblazers category, Salinas has demonstrated significant leadership and influence in her role at Cerence, focusing on legal matters and strategic governance. CEO Stefan Ortmanns praised her immediate impact since joining the company earlier this year. ALPFA is the largest Hispanic professional membership association in the U.S., dedicated to advancing Latino leadership.
Cerence Inc. (NASDAQ: CRNC) has launched the Cerence Exterior Vehicle Communication, a new AI-driven platform that enhances interaction between drivers and their cars from outside. This innovation combines various technologies, including speech recognition and voice biometrics, to assist users in tasks like activating lights or parking vehicles. As automobiles become more autonomous, this offering is expected to improve user trust and experiences with shared and driverless vehicles. Cerence aims to transform mobility with intuitive human-vehicle communication.
Cerence Inc. (NASDAQ: CRNC) announced its Cerence Assistant is now supported on the NVIDIA DRIVE platform, enhancing in-car AI experiences. This integration aims to deliver next-generation cockpit solutions, utilizing features like gesture and gaze detection for improved driver interaction. The assistant provides real-time notifications, such as low fuel alerts, and supports speech recognition in multiple languages. The collaboration facilitates automakers in deploying advanced AI-powered features to enhance safety and productivity, marking a significant milestone in connected mobility.
Cerence Inc. (NASDAQ: CRNC) announces a strategic partnership with CFMOTO to enhance its two-wheelers and ATVs with Cerence Ride, their conversational AI platform. This collaboration aims to improve rider safety and experience through voice-powered navigation and controls, minimizing distractions. The technology will include hybrid embedded and cloud speech recognition, supporting both English and Chinese. This partnership represents a critical step in the evolving landscape of connected mobility for two-wheelers, addressing the increasing demand for safer riding experiences.
Cerence Inc. (NASDAQ: CRNC) announced it will present at the Goldman Sachs Communacopia + Technology Conference on September 14, 2022, at 7:30 p.m. Eastern Time. The presentation will be in a fireside chat format featuring Tom Beaudoin, Cerence's EVP and CFO. The event will be webcast live, and the link will be available in the 'Events' tab under the 'Investors' section of Cerence's website. Additionally, the replay will be accessible on the company website following the event.
Cerence Inc. (NASDAQ: CRNC) has partnered with BMW Group to enhance the digital cabin experience in the new BMW 7 Series and BMW i7 with advanced AI and voice innovations. This partnership aims to improve BMW's Intelligent Personal Assistant (IPA) with enhanced natural language processing, allowing for seamless voice commands such as controlling the sunroof or using Apple’s Siri without physical interaction. Other features include personalized prompts and voice-controlled WeChat capabilities for users in China. These advancements highlight Cerence’s commitment to revolutionizing in-car experiences.
Cerence Inc. (NASDAQ: CRNC), a leader in AI for mobility, is set to present at the 2nd Annual Evercore ISI Technology Conference on September 7, 2022, at 8:00 a.m. ET. The session will feature a fireside chat with Tom Beaudoin, EVP and CFO of Cerence. Investors can access the live event via the company's website under the 'Investors' section. A replay will also be available post-event. With over 20 years of experience and 450 million cars equipped with its technology, Cerence is advancing the future of connected mobility.
Cerence Inc. (NASDAQ: CRNC) has launched Cerence Link, a new AI-driven solution designed to enhance vehicle connectivity and safety for both modern and older cars. This offering, which has already been adopted by a major automaker in India, bridges the technological gap between connected and non-connected vehicles. Cerence Link provides features such as driver monitoring, emergency alerts, and vehicle diagnostics. With over 40 million cars produced without connectivity yearly, Cerence aims to improve safety and convenience for a broader range of drivers.
Cerence Inc. (NASDAQ: CRNC) partners with Microsoft to integrate communication and productivity tools, including Microsoft Teams, into Cerence’s AI-powered automotive assistants. This collaboration addresses the increasing need for effective remote work tools as companies adopt a work-from-anywhere model. By utilizing Azure Communication Services, drivers can enjoy a voice-first experience to manage meetings and notifications hands-free, enhancing productivity while driving. The solution supports automotive OEMs in implementing these features seamlessly, improving user experience and safety on the road.
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