In the video below, tech and telecom analyst Andrew Tonner explains three reasons why Nuance Communications (NASDAQ: NUAN ) will likely grow. First, its speech recognition technology is the best in the business. It can translate over 60 languages and dialects and thus has worldwide licensing potential. Second, speech recognition software is spreading into consumer electronics. Apple already uses Nuance with Siri -- iTV and iWatch are likely to follow. Other companies are following suit. Finally, there is huge potential in the health care industry. As financial pressures grow, voice recognition technology could be used to cut labor costs.
Speech recognition is yet another nascent technology set to explode with the rise of tablets and smartphones, and no company is better poised to benefit from this coming boom than Nuance Communications. However, this growth story doesn't come without risks, too. The Motley Fool recently published a premium research report to break down what investors interested in Nuance absolutely have to understand before investing, so click here now to grab your copy today.