Core Insights - Cerence Inc. announced a partnership with Audi to enhance its in-car assistant using generative AI technology [1][2] - Audi will implement Cerence Chat Pro in vehicles equipped with the MIB 3 infotainment platform, starting with model year 2021 and future models [2][3] - The collaboration aims to improve the user experience by providing automotive-grade generative AI applications for safer and more enjoyable driving [3][4] Company Overview - Cerence is a leader in AI-powered interaction for the automotive industry, with over 20 years of experience and 475 million cars equipped with its technology [5] - The company focuses on creating intuitive, AI-driven experiences that connect consumers' digital lives with their mobility needs [5] - Cerence's solutions are designed to enhance safety, comfort, and productivity for drivers and passengers [4][5]

With a dual focus on creating added value for cars already on the road as well as advancing its in-car assistant capabilities for the future, Audi will first deploy Cerence Chat Pro in Audi vehicles equipped with the MIB 3 infotainment platform, beginning with model year 2021 via back-end activation as well as upcoming models. In addition, Cerence Chat Pro will be integrated as part of Audi's in-car assistant, extending its capabilities within HCP3, the new, high-performance computing and infotainment platf ...

Core Insights - Cerence is expanding its presence in the automotive industry with the deployment of Cerence Chat Pro, an advanced ChatGPT integration, across Volkswagen Group's European lineup [1][9] - The collaboration with Volkswagen, initially announced at CES 2024, enhances driver interactions through the IDA voice assistant, utilizing generative AI technology [2][8] - Cerence's partnerships with major automotive players like BMW Group, NVIDIA, and Microsoft are strengthening its market position and expanding its client base [10] Product Developments - Cerence Chat Pro is now available in five languages, integrating vehicle command and control features with real-time cloud-based information, improving the in-car experience for various Volkswagen models [5] - The introduction of Cerence Automotive Large Language Model (CaLLM), powered by NVIDIA, aims to transform in-car computing platforms and enhance user experiences with generative AI capabilities [6] Financial Performance - Cerence expects revenues between $66 million and $72 million for the third quarter of fiscal 2024, with a Zacks Consensus Estimate for revenues at $70.33 million, indicating a year-over-year growth of 14.06% [7][12] - The stock has experienced a significant decline of 84.4% year to date, contrasting with a 24% rise in the Zacks Computer & Technology sector, primarily due to intense competition in the automotive voice assistance market [11]

Core Insights - Cerence Inc. has launched Cerence Chat Pro, an AI-powered voice assistant integrated into Volkswagen's vehicles across Europe, marking the first deployment of this technology to drivers [1][5] - The collaboration between Cerence and Volkswagen was first announced at CES 2024, focusing on enhancing the in-car assistant with generative AI capabilities [1][2] Group 1: Product Features - Cerence Chat Pro allows users to engage in conversational interactions with the in-car voice assistant, utilizing ChatGPT's large language model for credible responses to a wide range of queries [2][4] - The voice assistant is designed specifically for in-car use, combining vehicle command features with access to cloud-based content and real-time information [2][3] Group 2: Language and Model Availability - The service is currently available in five languages: English (US), English (UK), German, Spanish, and Czech, across various Volkswagen Group brands including Volkswagen, Cupra, Seat, and Skoda [3][5] - The rollout includes both new models like the Volkswagen ID. series and updated versions of existing models such as the Golf, Tiguan, and Passat [3] Group 3: Strategic Importance - Volkswagen emphasizes its commitment to democratizing technology, making advanced AI accessible to a broad audience through its vehicles [4] - The partnership aims to enhance the driving experience by making the IDA voice assistant more knowledgeable and capable, contributing to safer and more enjoyable journeys [5] Group 4: Future Plans - The rollout of Cerence Chat Pro will expand globally, including the US, with additional features and improvements expected through early 2025 [5]

BURLINGTON, Mass., June 12, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that Jennifer Salinas, Senior Vice President & General Counsel, has been promoted to the newly created role of Executive Vice President & Chief Administrative Officer, effective June 7, 2024. In her expanded role, Ms. Salinas will oversee the company's day-to-day administrative activities and corporate operations, including facilitating strategic planning, partnering with the leadershi ...

Ms. Salinas has served as Senior Vice President & General Counsel of Cerence since April 2022. Prior to Cerence, she was Head of Litigation at Lenovo, the largest PC company worldwide, and General Counsel of the Infrastructure Solutions Group, a $7 billion Lenovo business unit. Her extensive, more than 25-year background also includes ten years as a Partner at several prominent law firms. Ms. Salinas is the former President of the Hispanic National Bar Association and has received numerous awards and recogn ...

BURLINGTON, Mass., June 04, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that it has appointed Antonio ("Tony") Rodriquez as its interim Chief Financial Officer (CFO), effective June 4, 2024. Mr. Rodriquez brings over 25 years of experience as a financial leader managing all aspects of finance and accounting for both public and private global companies, including in the eCommerce, SaaS, advertising media and consumer marketing industries. As Cerence's inter ...

Core Insights - Cerence Inc. has appointed Antonio ("Tony") Rodriquez as interim Chief Financial Officer (CFO) effective June 4, 2024, bringing over 25 years of financial leadership experience [1][4] - Mr. Rodriquez's previous roles include CFO positions at The Bouqs Company and TouchCommerce Inc., and he has a background in managing finance for various industries including eCommerce and SaaS [3][4] - The company is actively searching for a permanent CFO while Mr. Rodriquez leads the finance organization, which encompasses accounting, tax, FP&A, treasury, facilities, and procurement [1][4] Company Overview - Cerence Inc. is a leader in creating AI-powered experiences for the mobility sector, partnering with major automakers to enhance connected mobility [6] - The company has a strong track record with over 475 million cars equipped with its technology, focusing on connected cars, autonomous driving, and e-vehicles [6]

BURLINGTON, Mass., June 04, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ:CRNC), AI for a world in motion, today announced that BMW Group is leveraging Cerence Audio AI to enhance the safety features in its BMW Personal Pilot L3 conditional automated driving system. BMW will leverage Cerence Emergency Vehicle Detection (EVD) to detect the sirens of approaching emergency vehicles. Part of Cerence's Audio AI suite, Cerence EVD utilizes the distinct sound structure inherent to emergency siren signals to achiev ...

BURLINGTON, Mass., May 29, 2024 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that premium electric vehicle (EV) maker Zeekr will integrate Cerence conversational AI technology into its in-car virtual assistant. Zeekr is a global premium electric mobility technology brand under Geely Holding Group. As part of its global expansion strategy, Zeekr has adopted user-driven technologies to meet the needs of drivers from all over the globe. For this commitment, Zeekr c ...