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AI Integration Propels Translation Sector to Unprecedented Heights

TL;DR

  • The global translation industry is seeing major changes with AI, making translations faster and cheaper.
  • Smartling’s innovative AI approach boosts revenue by 70% in just a year.
  • AI-driven projects make up half of Smartling’s business, driving significant profits.

 

As the global translation industry faces disruption, Smartling emerges as a frontrunner, spearheading innovation with its groundbreaking implementation of AI technology. Amidst declining trends within the translation sector, Smartling achieved a remarkable 40% growth rate in 2023, a feat further accelerated in 2024. The company’s pioneering use of AI has revolutionized translation services, delivering human-quality translations at unprecedented speed and cost-efficiency.

AI revolutionizes the translation landscape

Smartling’s CEO, Bryan Murphy, attributes its standout performance to its innovative AI-driven approach. By leveraging artificial intelligence, Smartling has effectively slashed translation costs by half and accelerated the process tenfold compared to traditional methods. In an interview with VentureBeat, Murphy emphasized the critical role of AI in meeting the evolving demands of executives worldwide, who are increasingly prioritizing AI strategies and cost-reduction initiatives.

In 2009, Smartling established itself as a leading translation management platform, catering to renowned brands such as British Airways, Shopify, Survey Monkey, and Lyft. However, the company embarked on an aggressive AI-focused strategy over the past 18 months, culminating in developing proprietary AI models and the widespread integration of machine learning across its language services. 

Murphy underscores Smartling’s objective to democratize high-quality translation by driving down costs by an additional 50%, akin to the transformative impact witnessed in cloud services and storage over the past decade.

Rapid growth and profitability

Smartling’s foray into AI translation yielded swift and tangible results. Within a short span, AI-driven projects evolved from generating negligible revenue in January 2023 to nearly half of the company’s business today. 

Thanks to the technology’s favorable unit economics, these AI-powered endeavors contribute significantly to Smartling’s profits. Additionally, the company has initiated the patent process for multiple innovations related to AI integration in translation services.

As the translation industry undergoes a paradigm shift propelled by AI innovation, Smartling emerges as a beacon of transformation, leading the charge toward enhanced efficiency and cost-effectiveness. 

With its relentless commitment to leveraging AI technology, Smartling sustains remarkable growth and sets new benchmarks for quality and speed in translation services. As businesses worldwide navigate the imperative of AI adoption and cost optimization, Smartling’s success story stands as a testament to the profound impact of technological innovation in reshaping traditional industries.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

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