On 11th May 2017, Cisco announced that it has acquired MindMeld, a company that builds a conversational AI platform for business organizations for $125 million.
MindMeld, originally called Expect Labs, aims at unique AI that captures domain knowledge on any application or device, which enables customers to build intelligent and human-like friendly interfaces.
Cisco believes that AI and Machine Learning play a crucial role in business by giving analytics, data centers, collaboration and industry leadership in networking and place it on the cloud-based services and the networking. It unlocks the capabilities through AI and ML to empower products and features which include- Stealthwatch, Cisco Spark Board, Voice Track and SpeakerTrack.
The acquisition of MindMeld AI technology by Cisco has powered Cisco’s collaboration products and interface. This has enhanced the ease of use, enabling new cognitive capabilities, which guides voice AI to meetings across the globe. In the workplace, the presence of telephony hardware and video increases adoption of AI technology.
In one of his recent blog posts, Rowan Trollope, Senior Vice President, Cisco IoT and Applications Group said- "The workplace of the future is one powered by AI". This is a significant step toward making that workplace a reality. Integrating MindMeld into the Cisco Spark platform will transform how users interact in Cisco Spark Spaces, Cisco Spark Meetings, and Cisco Spark Care."
Cisco-MindMeld acquisition is expected to close in Cisco's fourth quarter of the fiscal year 2017, by joining the Cloud Collaboration Group.