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Monday, September 23, 2024
Smartcat's Series C Funding, YouTube Dubs Launch, Viva Translate Closes Down
Slator- Language Industry Intelligence
Florian and Esther discuss the language industry news of the week, where they give their impressions from SlatorCon Silicon Valley and touch upon the findings from the 2024 ALC Industry Survey.
In a significant funding update, Esther reports that Smartcat raised USD 43m in a Series C round, bringing their total funding to USD 70m. This funding will support product innovation in AI translation and multilingual content generation.
Florian talks about YouTube’s potential launch of AI dubbing, a feature in testing that aims to generate translated audio tracks for videos, significantly enhancing content accessibility and engagement.
The duo bid farewell to publicly traded Keywords Studios, which is delisting after being acquired by private equity firm EQT. They also note the shutdown of Viva Translate, a speech-to-speech translation company that will open-source its tools as it winds down.
On September 5, 2024, more than 150 language industry and technology leaders gathered at Hotel Nia in Menlo Park, Silicon Valley.
The event offered a friendly and relaxed environment, encouraging networking and reconnections among participants. Attendees from over a dozen countries and four continents emphasized the importance of in-person Slator events in addition to virtual ones. The expo hall was also buzzing with activity.
Esther Bond, Head of Advisory at Slator, kicked off the event with a warm welcome, outlining the day's presentations and panels, and encouraging delegates to network and engage with each other.
Key Takeaways from SlatorCon Silicon Valley 2024
Florian Faes, Managing Director of Slator, opened the sessions by presenting key insights from Slator’s latest research on the language industry's current state. He discussed practical applications of large language models (LLMs) in localization workflows and shared predictions for the next few years.
RWS took the stage for the first presentation, with Vasagi Kothandapani and Mark Lawyer discussing the diversification of services into AI solutions. They emphasized the role of content as a driving force for digital transformation, business innovation, enhancing customer experience, corporate growth, global engagement, and market evolution.
Key Takeaways from SlatorCon Silicon Valley 2024
The day's first panel, moderated by Esther Bond, focused on investment strategies.
Andrew Doane of K1 Investment Management and Aditya Govil from VSS Capital Partners explored the influence of AI on the language technology sector, with particular emphasis on the healthcare and B2B SaaS industries. They also discussed the role of private equity in the language tech space and shared insights on strategic considerations for investments and acquisitions.
Helena Batt, who oversees localization operations for the TEDConferences, took the podium next to provide unique insights on the organization’s implementation of AI dubbing for TED Talks. Among the technical challenges encountered, Batt mentioned preserving vocal characteristics and emotional nuance, and achieving seamless lip sync.
Betting on Technology
The Language AI Stack panel, moderated by Anna Wyndham, Slator's Head of Research, featured insights from Georg Ell of Phrase and Hameed Afssari of Uber. They discussed AI as a technology stack, focusing on the practical applications of large language models (LLMs) in localization, including machine translation (MT), workflow optimization, and managing linguistic assets.
A second technology panel, led by Florian Faes, explored the interpreting field. Oddmund Braaten from Interprefy, Fardad Zabetian from KUDO, and Jeremy Woan from CyraCom International shared their perspectives on how automation transforms interpreting services.
Another panel, moderated by Alex Edwards, Slator Senior Research Analyst, offered insights on localization systems integration, global 24/7 services, and enterprise program management. Panelists included Pavel Soukenik from Acolad, Nitin Singhal from SnapLogic, and Agustín Da Fieno Delucchi from Microsoft.
Silvio Picinini from eBay Localization delivered a thought-provoking presentation, exploring two scenarios: applying AI to existing localization processes or reimagining those processes entirely, and the potential outcomes of each approach.
Florian Faes concluded the event with closing remarks, inviting attendees to join SlatorCon Remote in November 2024 or meet in person again at SlatorCon London in 2025. More detailed follow-up coverage is forthcoming.
