Speech recognition technology is advancing leaps and bounds, but what's the best way to invest in the futuristic technology?

Three years ago,
Apple Inc. (
AAPL) unveiled its revolutionary digital assistant, Siri. Since then, the speech recognition industry
has advanced by leaps and bounds, and what was once science fiction is set to become
a $133 billion market by 2017.
Speech recognition software isn’t perfect yet, but it has evolved tremendously in recent years and has been
forecast to increase at a CAGR of more than 22% through 2016.
And some big players are taking notice of the growth in voice recognition. Since early 2013, activist investor Carl Icahn has been quietly amassing shares of perhaps the most renowned voice recognition stock on the market,
Nuance Communications Inc. (
NUAN). Nuance isn’t the only game in town, but it is one of the most well-known.
However, for all its success in the space, Nuance is not the best way to play voice recognition.