Uploaded on Jul 8, 2024
Explore the latest developments in the language industry, including significant legal battles, bankruptcies, acquisitions, and new AI interpreting guidelines. This comprehensive article delves into these events' implications and thoroughly analyzes their impact on the market.
Legal Battles, Bankruptcies, Acquisitions, and AI Interpreting Guidelines
Navigating Legal B attles, Bankruptcie s, Acquisitions, and AI Interpreting Gui delines in the Lang uage Industry www.slator.com Florian and Esther discuss this week's language industry news, highlighting a legal battle in the UK regarding public sector interpreting and the classification of interpreters as freelancers or workers. This case could significantly impact the business models of language service providers (LSPs). www.slator.com The duo explores Google Translate’s recent expansion to support over 200 languages, adding 110 new ones using their large language model, Palm 2. Florian talks about the insolvency of Landexx, a German LSP, following a pattern of recent bankruptcies in the language service industry in Europe. Meanwhile, Keywords Studios, a major player in game localization, is set to be acquired by the private equity firm EQT, valuing the wLSwPw a.ts laaptoprr.ocxoimmately USD 2.2 billion. Esther gives an M&A corner, including Translate.One’s acquisition of Enable2 in the UK, Valorem Group’s purchase of Ireland-based TRANSLIT, and difuze’s acquisition of the accessibility division of Blackstone Sight and Sound in Canada. Additionally, Esther covers a pre-seed funding round by Dubme.io, a Spanish startup specializing in AI-powered dubbing. The podcast concludes with a discussion on the Interpreting SAFE AI Task Force, which has released guidelines for the ethical use of AI in interpreting, emphasizing the importance of maintaining quality, accountability, and transparency in the industry. www.slator.com www.slator.com Slator i s the leading source of news and research for the g loba l t rans la t ion, loca l iza t ion, and language technology industry. Our Adv isory prac t ice is a t rusted par tner to c l ients look ing for independent analys is . Headquar tered in Zur ich, S la tor has a presence in As ia , Europe, and the US. www.slator.com
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