Microsoft (MSFT) is launching new artificial intelligence (AI) tools for the healthcare sector.
With the new tools, healthcare organizations can build their own AI applications faster. The tools can also be used to pare down the amount of time that clinicians have to spend on record keeping, which is a big part of healthcare these days.
A CNBC report noted that nurses spend about 40% of their workday on documentation, so cutting down on that time would be helpful. Microsoft has been working on bolstering its presence in healthcare, adding new tools to its Azure cloud computing platform in recent months.
Trouble for Microsoft Xbox
Separately, Microsoft’s gaming unit appears to have run into some rough waters. According to media reports, Microsoft has pulled its Xbox services out of several markets in Europe, the Middle East and Africa.
Microsoft has also announced it will not sell Xbox hardware in Saudi Arabia. Why Microsoft is pulling back on gaming hardware in the Middle East is not clear, but it could present an opportunity for long-time rivals Sony (SONY) and Nintendo (NTDOY).
Is Microsoft Stock a Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 26 Buys and three Holds assigned in the past three months, as indicated by the graphic below. After a 26.25% rally in its share price over the past year, the average MSFT price target of $503.70 per share implies 21.05% upside potential.
