AI transforming global translation industry, mass layoffs by 2022

The jobs of hundreds of thousands of professionals in the global translation industry are at risk of disappearing as a result of the rapid improvement in Neural Machine Translation (NMT) engines of companies like Google, Amazon, Microsoft, and others, predicts Ofer Shoshan, CEO and co-founder of OHT. The industry generates over $50 billion in annual revenues and employs upwards of 500,000 professionals at an estimated 21,000 translation agencies. The developments impacting the global translation industry are part of a wider technology trend with Artificial Intelligence (AI) revolutionizing numerous sectors of the economy. The quality of translation is improving rapidly, and the number of human translators will decline sharply. “For translation companies the solution is not to stop the march of technology, but rather combine the work of human translators and machines, like OHT is doing now as part of its hybrid translation strategy,” concludes Shoshan.

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