In an era where artificial intelligence (AI) is reshaping various industries, Smartling has emerged as a trailblazer in the translation industry, achieving remarkable growth and innovation amidst a broader industry decline. Despite the global translation industry facing a decline in 2023, Smartling managed to buck the trend, experiencing an impressive 40% growth rate, and setting the stage for accelerated progress in 2024. The company’s success story is rooted in its cutting-edge AI-powered translation technology, which offers human-quality translations at half the traditional cost and ten times the speed.
Smartling’s Journey and Expansion in AI
Founded in 2009, Smartling quickly established itself as a leading translation management platform, catering to high-profile brands like British Airways, Shopify, Survey Monkey, and Lyft. However, the past 18 months have witnessed the company aggressively expand its AI capabilities. This expansion involved the development of proprietary models and the seamless integration of machine learning throughout its language services. By January 2023, AI-driven projects, which initially generated almost no revenue, had grown significantly, now comprising nearly half of Smartling’s business and an increasingly substantial portion of its profits.
A Vertical-Specific Approach to AI Translation
Smartling’s approach to AI translation is distinct and highly specialized, focusing on the unique requirements of the translation sector rather than pursuing general-purpose AI models like tech giants Google, Amazon, and Microsoft. This focused strategy involves integrating over 20 commercial engines and sophisticated language models like GPT-4 to deliver unparalleled translation quality. By enhancing the output quality of these engines by approximately 40%, Smartling has been able to provide cost-effective and efficient translation services that meet the high standards of their clients.
Making High-Quality Translation Accessible and Affordable
Striving to make high-quality translation services more ubiquitous, Smartling is committed to further driving down costs, aiming to reduce them by at least another 50%. This endeavor mirrors the transformation observed in cloud services and storage over the last decade. CEO Bryan Murphy has highlighted that their AI translation solution offers human-quality translations at half the price and in half the time, naturally garnering significant interest from businesses eager to develop AI strategies and trim expenses.
Impact on Traditional Language Service Providers
The meteoric rise of AI-powered translation technology poses significant disruption risks to traditional Language Service Providers (LSPs), who rely heavily on human translators and often lack the technological prowess or financial flexibility to adapt. Murphy anticipates notable dislocation within the industry as more companies embrace AI-first solutions. This shift underscores the essential nature of continually refining prompt engineering practices and identifying the most effective large language models for translation.
Broader Trends and Future Prospects
Smartling’s successful deployment and continuous investment in translation AI reflect the broader trends of AI-driven transformations across various industries. Backed by over $223.3 million in venture funding, the company is strategically positioned to expand its market share as the industry moves increasingly towards AI-centric solutions.
Conclusion: Shaping the Future of Translation with AI
In today’s rapidly evolving world of artificial intelligence (AI), Smartling stands out as a leader in the translation industry. Despite facing overall industry downturns in 2023, Smartling achieved a significant milestone by registering an impressive 40% growth rate. This achievement is especially notable considering the broader decline experienced by the global translation market. Smartling’s success can be attributed to its groundbreaking AI-powered translation technology, which delivers human-quality translations at substantially reduced costs—up to half of traditional methods. Furthermore, this advanced technology operates at ten times the speed of conventional translation services. The company’s remarkable growth and innovation not only defy industry trends but also position it for continued success, with heightened progress anticipated in 2024. Smartling’s approach serves as a testament to the transformative power of AI when applied effectively, offering a glimpse into the future of the translation industry.
