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By Meg Flippin, Benzinga
Though it has its downsides, in the right hands, Artificial intelligence (AI) can help overcome communication barriers, enhance human interactions and automate complex business processes. Thanks to AI and machine learning, computers and digital devices can recognize, understand and produce text and speech. ChatGPT, the popular AI chatbot developed by OpenAI and Microsoft Corp. (NASDAQ: MSFT), is an example of the power of NLP but it's not the only one.
Translate And Transcribe In Seconds
OneMeta Inc. (OTC: ONEI), the AI-powered translation and transcription services company headquartered in Bountiful, Utah, is making a name for itself thanks to its advanced technology that translates and transcribes spoken and written words in seconds across multiple languages. Its technology can be used in various settings and across industries, including education, finance, healthcare and legal. Whether attending a live event, participating in an online meeting or talking on the phone, OneMeta's technology offers real-time speech translation and transcription with live captions.
Its VerbumCall product enables real-time translation over the phone in more than 150 languages. Meanwhile, VerbumOnSite enables attendees at live events to scan a QR code to access real-time captions in over 150 languages directly on their phones.
Microsoft Likes It
Then theres Verbum for Microsoft Teams, which allows multilingual groups to come together in meetings. Each attendee chooses the language they are speaking in and the language they want to see captions and chat in. As each person speaks in their preferred language from a list of 95+ languages, it is translated in near real-time for the rest of the group.
In April, OneMetas Verbum for Microsoft Teams received Microsoft Co-Sell Ready Status which means its product was added to Microsofts Teams store, AppSource Marketplace and the Azure Marketplace. That will likely boost the products recognition and drive sales.
"Since OnceMeta just achieved Microsoft Co-Sell Ready Status we are seeing significant interest from potential customers who want to apply the Verbum software to their usage of Microsoft Teams in the 140+ languages we offer, said OneMeta CEO Saul Leal.
We can bring our AI for translation and transcription to all enterprises without compromising privacy, compliance and data security," Alessandro Balzarelli, director at Microsoft Industry Solutions Engineering, concurred, saying the software giant expects to see Verbums adoption and growth by enterprises that need multi-language translation and transcription pick up.
Verbum empowers Microsoft Teams users to be more efficient and more inclusive within their own organizations and with their own customers," he said.
After researching various niche industries where AI technologies would have a disruptive impact, OneMeta selected NLP technology to pursue because it believes it will have the most measurable impact and economic traction in the months to come. It's also a big business. In 2023, the global natural language processing market was valued at $24.10 billion. By 2032, it is expected to reach $158.04 billion, growing at a CAGR of 23.2% during the forecast period.
Breaking Barriers, Landing New Customers
OneMeta is also constantly enhancing its technology to be even faster and more seamless. That drive was on display recently when the company announced it reduced the translation and transcription speed of over 150 languages and dialects to less than 200 milliseconds. OneMeta said the breakthrough allows for the near-instantaneous interpretation of spoken content into multiple languages simultaneously, all on the same audio channel. The process is so swift it is virtually unnoticeable to both listeners and readers, surpassing the speed and accuracy of human interpreters and any existing competitive technologies, OneMeta reports.
Unlike traditional human interpreters who need to hear a full sentence before beginning translation, our technology operates on simultaneous near-real-time interpretation. This means audiences can follow conversations in real-time without the delays typically required for translation, said Leal. As a result, meetings can proceed at their scheduled pace, potentially reducing the time spent in meetings by up to 70%. This efficiency not only streamlines communication but also represents significant cost savings for our clients in their interpretation and translation budgets."
The benefits were enough for OneMeta to land the Archdiocese of Oklahoma City as a new customer. The Archdiocese is using Verbum translation and transcription services to communicate with its multicultural parishioners. OneMeta expects more Archdioceses in many countries to adopt its technology.
AI is here to stay, and while there are reasons to be concerned, with the right companies this technology can disrupt and transform industries, break down communication barriers and connect the world wherever people are. OneMeta recognizes the power of AI and has created a stack of AI-driven products that remove the language barriers that keep people apart. With demand for NLP growing, the OneMeta story is one to watch.
Featured photo by Markus Spiske on Unsplash.
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Benzinga
COMTEX_453052850/2655/2024-05-29T08:45:25
