The AI translation market is also growing rapidly mainly due to machine learning. Let’s have a look what lies ahead.
Artificial intelligence (AI) is one of the fastest-growing technologies that propels business today.
According to the American Gartner Institute, over the next year AI algorithms will dominate remote customer service. As much as 85% of interaction with consumers comes via chatbots and intelligent virtual assistants.
Today, the AI translation market is worth over $400 million and by 2024 it is said to grow by 19%.
Artificial Intelligence in Business
We’re already at a point of no return.
Chemistry between AI and business is going strong. For many companies, especially global ones, the use of AI algorithms is a major step in development and savings. Processing huge amounts of data in almost no time, continuous availability and reduction of human errors cannot be overlooked.
The best demonstration of how AI works and how beneficial it is comes from the business world. That includes e-commerce, HR, marketing and accounting, for example.
According to IBM the use of the virtual customer service assistant at Autodesk resulted in astonishing 99% improvement in performance, reducing response time from 38 hours to 5.4 minutes. It is impossible to surpass such a result by traditional assistance.
The fashion industry probably would not be the first choice to provide an interesting example of the use of artificial intelligence, but here it is.
The Fashion AI system works in Alibaba stores in China. It acts as a multimedia assistant and earns $25 million each day. When a customer chooses a product like a dress or suit, the sensors in the fitting room scan the item and select accessories to create a fashionable outfit.
Additionally, the assistant tells the customer where to find the products on the store shelves.
Application of Machine Learning
One of the branches of artificial intelligence is machine learning. It makes systems and machines constantly improve not only because of their programming, but also with the use of data provided. It is nothing else but machine learning algorithms which create recommendation systems on Facebook or during listening to music on Spotify.
They are also responsible for speech recognition by assistants such as Siri or applications similar to Skype.
How does machine learning support automatic translations? Until recently, translations done by Google Translate were not accurate as far as the logic of translation is concerned. Today, translation support software is packed with AI algorithms allowing for immediate data transfer as well as creating and using translation databases.
With a single click it is possible to translate hundreds of helpdesk requests into the native language of customers from around the world. The company can approach consumers and meet their requirements globally in a nick of time.
What’s more, the translation programs use previously acquired knowledge and, thanks to machine learning, the whole process accelerates and improves in terms of accuracy with each subsequent translation.
Stephen Hawking and AI
It’s worth seizing the opportunity while recognizing the threats.
When AI technology is concerned, a number of questions arises, for example: what will happen to humans on the labour market? Stephen Hawking and many other scientists have their views on the matter.
The mentioned physicist argued that artificial intelligence can help humanity eliminate disease, reduce climate change, and even reduce poverty. At the same time, he pointed to the threat of super-intelligent machines. Self-aware and independent artificial intelligence is, however, a distant future.
AI in the Translation Market: Bottom Line
Translations will be faster and more accurate.
Specialists still have to operate and supervise imperfect AI algorithms. Thanks to automation, people can focus on more creative tasks. For example, translators, whose work has been significantly improved due to AI, still verify and edit automatically translated content.
Their interdisciplinary knowledge, which often concerns niches, like for instance law, is still irreplaceable. AI also helps in team projects, as several translators can work on one text, while translation programs ensure full consistency of language and translation.
We are sure that the future of translation is the joint work of experts and intelligent systems, which will result in better and faster outcome.
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