Teladoc (NYSE:TDOC) stock is on the move Tuesday as the company expands its Microsoft (NASDAQ:MSFT) AI partnership.
According to a press release, Teladoc plans to work with Microsoft to enhance its Teladoc Health Solo platform. That will see it integrate Microsoft Azure OpenAI Service, Azure Cognitive Services, as well as the Nuance Dragon Ambient eXperience into the platform.
With these integrations, Teladoc will be able to automate the creation of clinical documentation for virtual exams. The company says this should help ease the burden that healthcare workers deal with and improve patient information.
Dr. Vidya Raman-Tangella, Chief Medical Officer of Teladoc, said the following about the AI partnership with Microsoft.
“Administrative burden and staff shortages are major reasons why clinicians are leaving the profession. We are focused on using AI to reassert and build the doctor-patient relationship at a time when technology frequently does the opposite. We are proud to partner with Microsoft and Nuance to break new ground.”
TDOC Stock Movement On Tuesday
With this announcement, shares of TDOC stock are seeing extra trading activity today. As of this writing, more than 3.8 million shares of the stock have been traded. That’s already above the company’s daily average trading volume of about 3.8 million shares.
TDOC stock is up 5.5% as of Tuesday morning and is up 16.6% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
