Voice recognition specialist Nuance Communications (NASDAQ:NUAN) has unveiled a new mobile advertising platform called Voice Ads that aims to transform traditional mobile advertising and create engaging conversations between consumers and advertisers by facilitating a two-way line of communication.
Says Nuance in today's press release: "Voice Ads are simply easy and fun for consumers to use. An ad appears and prompts the consumer to participate by speaking to it. From there, the conversation drives the experience, which is tailored to meet both the needs of the brand and the consumer."
Nuance will utilize location and voice input to offer a scalable advertising solution, where consumers can speak to ads. The company cites data from eMarketer, which estimates that mobile ad spending will grow to $37 billion by 2016. Nuance is hoping to leverage the growing popularity of mobile personal assistants, including its own and those that are powered by its voice recognition engine.
The company has partnered with numerous mobile advertising companies to expand the reach of Voice Ads.
Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool recommends Nuance Communications. The Motley Fool owns shares of Nuance Communications. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.