Microsoft MSFT recently rolled out the transcribe feature for the web version of Word. Transcribe in Word aids users to record audio and convert it to text, thereby enabling them to save time.
The embedded AI technology of the transcription feature has the capability to identify individual speakers in the conversation.
The company also introduced Immersive Reader service for software developers. Immersive Reader, a part of Azure’s Cognitive Services, will aid developers to insert comprehension capabilities and text reading into applications.
Microsoft Corporation Price and Consensus
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It will also help in translating the text into several other languages. Immersive Reader gives Azure an edge over other cloud providers, as these do not possess this type of reading technology. Immersive Reader is expected to witness solid uptake due to coronavirus-led online learning wave.
The addition of innovative features to boost the company’s productivity offerings, are expected to boost investor optimism in the stock. Notably, shares of Microsoft have returned 37.3% year to date, outperforming the industry’s rally of 32.1%.
Transcription Feature to Boost Engagement
Transcribe in Word is supported in both Google Chrome and new Microsoft Edge browsers and available for all Microsoft 365 subscribers. To access this feature, one needs to click on the “Dictate” option under the “Home” tab.
The transcription feature also permits editing and formatting of the recorded text in the Word. The dictate option also allows voice commands for making editorial changes.
Transcribe in Word enables uploading of both audio and video files (.mp3, .m4a, .wav, or .mp4 formats) from other apps apart from Word.
Presently, users have a five-hour limit per month for uploading files, while each recorded file can only be up to 200 megabyte (MB). As of now, the feature supports just English for transcribing audio. However, Microsoft will be adding more languages in the coming days. Also, the company is aiming to launch Transcribe in Office mobile by the end of this year.
Microsoft is constantly adding AI-powered capabilities to Microsoft Editor for Word to improve grammar and plagiarism checks. By adding new engaging features to Word and offer users with an immersive experience, Microsoft is targeting to boost the subscriber base for Microsoft 365 bundle.
Solid Momentum in Microsoft 365 Bodes Well
Microsoft is gaining from expanding user base of different applications including Microsoft 365 offerings and Teams app. Both solutions continue to witness record adoption driven by coronavirus-led work-from-home, and stay-at-home wave. Some of the notable wins for Microsoft 365 in the fourth quarter of fiscal 2020 include Telstra, Alcoa, CenturyLink, GE, 3M, and Providence.
In the fourth quarter of fiscal 2020, Microsoft 365 E5 user base doubled on a year-over-year basis. Apart from that, Office 365 commercial revenues climbed 19% year over year in the fourth quarter on the back of robust installed base growth.
Earlier in March this year, Microsoft launched a refurbished version of its Office 365 software suite. Among the most notable changes, the company launched Microsoft Teams for everyday consumers. It also added a money feature to its Excel application, which enables users to track their spending. Furthermore, PowerPoint is getting an upgrade that enables better presentations through voice recognition.
The addition of improved AI capabilities and innovative features like Transcribe, to its productivity offerings, is expected to bolster uptake of Microsoft 365 subscription. This, in turn, is likely to give the company a competitive advantage over Apple’s AAPL iWork and Alphabet’s GOOGL Google G-Suite.
Moreover, the broader availability of Microsoft Teams app, which boasts of background noise cancellation in video calls, is likely to result in growing subscriber base and reinforce its competitive position against videoconferencing peers like Cisco’s CSCO Webex and Zoom Video.
Currently, Microsoft carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
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