Tuesday, July 16, 2024
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As AI Changes the Translation Industry, a new Audio-to-text Solution Raises the Bar.

According to an expert, the growth of the translation and transcription industries in the Gulf region, which is currently undergoing economic expansion, technological advancements, and globalization, has been dramatically accelerated by the increased use of artificial intelligence.

The AI-powered language services market, which includes transcription and translation, is expected to grow at a compound annual growth rate (CAGR) of 17.2% to reach $5.72 billion by the end of 2030. According to Abdul Wasey, CEO of Media Pitch, a content creation company based in New Delhi, this represents a significant shift in the industry.

Verified Market Reports estimated the global AI translation market to be worth $2.17 billion in 2023. The speaker was referring to this data. Trans Pitch, an AI-powered platform that can translate and transcribe any audio or video file into text in a matter of minutes, was recently unveiled by Media Pitch. More than 100 languages are supported.

The surge in the Gulf’s language services industry is propelled by the region’s dynamic economies, such as Saudi Arabia and the UAE, which draw substantial foreign investment and necessitate extensive localization and translation services.

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Tuesday, July 16, 2024

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