Language Tech Market News
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Language Tech Market News
Language Tech Market News keeps you up-to-date on news from Europe's language technology (LT) industry.
Curated by LT-Innovate
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Speech Analytics Market Worth $1.60B by 2020

The speech analytics market size is estimated to grow from USD 589.1 million in 2015 to USD 1.60 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 22.0% from 2015 to 2020, driven by the growing adoption of contact centers, increased importance of voice in the multi-channel world, and increasing importance of compliance management in organisations.

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Symbioses of Language Technology and AI at LT-Accelerate

AI and Natural Language Processing propel each other, because most of human knowledge and interaction is textual. What is textual is globally always multilingual. The LT-Accelerate Conference (Brussels, Nov 20-21) focuses on Text Analytics, AI, and related subjects. The speakers, CEO of SMEs, project leads/data scientist of larger companies, and NLP/AI researchers, provided amazing insights into the progress the field has made in the last year. 
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KantanMT Wins Software Innovation Award

KantanMT, provider of leading-edge language translation technology was announced the winner of the Irish Software Association’s Technology Innovation of the year Award at the ISA Gala dinner on Friday, 25 November 2016 in the Mansion House Dublin.
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Linguamatics Releases New Version of #NLProc Text Mining Platform 

Text analytics provider Linguamatics today released the latest version of their award-winning natural language processing (NLP) text mining platform, I2E 5.0.
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Systran Launches #NeuralMT Engine Covering 30 Languages

France based language solution provider Systran has launched its Neural Machine Translation engine. Its PNMT (Pure Neutral Machine Translation) gives organisations access to translation, close to human fluency and adapted for customers across industries.

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UK Premieres a Chatbot-driven Virtual Travel Agent

UK Premieres a Chatbot-driven Virtual Travel Agent | Language Tech Market News | Scoop.it

IBM and Thomson, largest UK tour operator have built a chatbot that interacts with consumers to provide real-time search results on travel destinations and holiday inquiries such as:
I want to visit local markets.
I want to go on an adventure to see exotic animals
I want to go on a cultured holiday with relaxation time.

LT-Innovate's insight:

The obvious use case for consumer conversational commerce. Note the use of an "inspiration engine" to encourage users to keep on chatting.

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Wolfram: Communicating With AIs is Like Talking to Extraterrestrials

At The Wall Street Journal’s CEO Council conference, the Wolfram Research CEO sees a similarity to communicating with extraterrestrials.
LT-Innovate's insight:

Possibly behind a paywall. In fact Kevin Kelly came up with a similar idea here http://kk.org/thetechnium/ai-or-alien-intelligence/ 

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Report on 10 Emerging #NLProc Startups

In this report, we have profiled 10 NLP startups working in the areas of natural language search, conversational commerce, automated speech recognition and content analysis, which have the potential to disrupt the retail industry.
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Indian IT Company Invests in Danish #AI Start-up

India's Infosys Ltd has invested 14.92 millon Danish krone from its “innovation fund” in UNSILO, a Danish artificial intelligence start-up focused on advanced text analysis. It uses machine-learning and #NLProc to analyse large quantities of text. 

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Partnership for Easy Access to Full-Text Articles for Text Mining

Researchers struggle to gain access to full-text articles for commercial text mining. When they do get the full text they must contend with multiple formats and inconsistent license terms – all of which inhibit text mining efforts. To address these issues, Copyright Clearance Center (CCC), parent company of RightsDirect, partnered with Linguamatics to make it easier for I2E end users to obtain and index full-text XML articles from multiple scientific publishers. The integrated CCC and Linguamatics solution makes high value data sources available for information analysis through text mining.
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Chatbots to Converse with Analytics Data

US analytics firm Sisense has brought its business intelligence platform to chat bots, allowing customers to ask natural-language questions about their data while in Slack, Skype, Facebook Messenger or Telegram.

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'ChatFlow' Encourages Developers To Build Better Chatbots

To encourage developers to build better chatbots, Seattle-based start-up, KITT.AI, has launched ChatFlow in private beta. ChatFlow framework makes it easier for developers to build better chatbots that can hold multi-turn conversations and work on multiple platforms.

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Very Large Translation Memory Corpus from China

UTH International (China) engages in what can be described as an accurate division across vertical fields. Their database contains more than 7.5 billion human translation units (as of the end of September 2016) across 15 Level I, 41 Level II, and 178 Level III fields. The collection includes 2.6 billion Chinese-English translation units and 1.8 billion English-other-language units from across various sectors, such as media, IT and telecoms, and legal.

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Adopting Cognitive Computing: A Status Report

Susan Feldman recently had the opportunity to attend a focus group, sponsored by SAS Institute, on cognitive computing adoption outside the US. Attendees came from Denmark, Japan, Finland, Serbia, Netherlands, Sweden, Switzerland, India and Ireland. They represented financial services, telecom, consumer product manufacturers, government agencies, and airline companies. Here are some gleanings from their wide-ranging discussion.

LT-Innovate's insight:

Useful input from business discussions on cognitive computing.

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India's Regional Language Apps Due to Have 250M Users by 2020

India's Regional Language Apps Due to Have 250M Users by 2020 | Language Tech Market News | Scoop.it

“The focus on Bharat (India) in the startup ecosystem is gaining prominence. When we look at the local language industry and combine online and offline potential, the space is worth over $10 billion. The digital ad spends alone will be worth $1.5 billion by 2020,” said Virendra Gupta, CEO of Dailyhunt, an app that focuses on publishing ebooks and aggregating news in 17 languages. The platform, backed by Matrix Partners and Sequoia Capital India, recently raised $25 million in a Series D funding round led by ByteDance, a global tech company.

LT-Innovate's insight:

Classic schema: leapfrogging PCs straight to smartphones via app ecosystem to localise communications. The ony real linguistic comparans to the EU digital single market situation.

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#Neural MT Available for "Smaller" EU Language Pairs

Tilde has released the world’s first neural machine translation (MT) systems for smaller languages. Tilde Neural MT systems, available to the public in a free online translation service, prove that neural machine translation provides a significant boost in automatic translation quality for smaller languages.
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Global eDiscovery Market To Reach $18.49B by 2021

The demand for the global eDiscovery was valued at $7,827.25 million in 2015 and is expected to generate revenue of $18,49B by end of 2021, growing at a CAGR of 15.69% between 2016 and 2021. eDiscovery is defined as a set of processes for the identification, preservation, collection, processing, review, analysis and production of electronically stored information.

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German Start-up Raises €800K in Seed Round to Boost LISA AI platform 

Berlin headquartered B2B startup, The Saas Co, has secured EUR 800,000 in seed round — EUR 500,000 from undisclosed telecommunication and logistics companies and a EUR 300,000 grant for promising innovation from the EU. The funds will boost its AI product, LISA (Learning Intelligent Sales Agent), an email bot based on artificial intelligence and natural language processing, which claims to increase “productivity of salespeople".

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Report on Market for AI, Smart Advisors, and Intelligent Agents 2016 - 2021

Consumer Virt. Personal Assistant revenue in North America will reach $296B by 2021
- Leading industries to integrate intelligent agents include automotive, banking, and healthcare
- More than 65% of individuals and 75% of enterprise will use VPA and autonomous agents by 2021
- Six percent of US workers will lose their jobs to AI, VPA, Chatbots and related technologies by 2021
- Lost jobs (mostly in call centers and other customer focused areas) represents lost wages of $262.7B annually

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Future of Chatbots in Big Customer Support Industries - Travel and Banking

The chatbots of tomorrow will be brought to life by insurance companies, banks, the travel industry, and telecommunications companies, a group of top developers told the audience at the ninth annual Geektime Conference in Tel Aviv on Monday.
Alexander Weidauer, co-founder of LastMile, a Berlin and Edinburgh-based company said that service industries “that have a long history in customer support will be the first to build meaningful chatbots.”

LT-Innovate's insight:

Probably nonsense. For "big customer", read big money. As the dev. costs (using SDKs) come down, all kinds of "service" industries are going to start using bots of one type or another. And kids will put chatbots on their websites. But the data will escape usability, until someone invents a  way for anyone to leverage data analytics as another little app.

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Meet Japan's Magical Multilingual Megaphone Speech Translation System

Japanese company Panasonic has developed a megaphone which can be used as a translator of several other languages. The device is named as ‘Magical Megaphone.  

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How Automated Web Surfing Improves #NLProc-related Machine Learning 

A new approach to machine learning information extraction has been developed by MIT researchers. Information extraction uses machine learning to automatically classify data items taken from plain text, such as online articles, to aid in statistical analysis.
The new technique makes machine learning a little more like human learning; a more natural fit for natural language processing. In two separate experiments, the new method outperformed conventional machine learning techniques by about 10 percent.
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Using Watson to Add ‘Programmatic Metadata’ to Video Content

David Mowrey, Vice President of Strategic Planning at IBM Cloud Video, talks about creating ‘programmatic metadata’: “You’re creating metadata on a frame-by-frame, second-by-second, basis for the video – so you know exactly what’s happening in the video all the way through.” Parsing video in this way obviously offers all sorts of powerful content search and discovery applications, particularly when Watson’s ability to understand natural language is applied at the user end as well. 

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Banking Chatbots Are the Next Big Thing in Fintech

Earlier this year, the Royal Bank of Scotland introduced its own chatbot named Luvo to streamline customer service operations. Recently Bank of America released its own personalized chatbot, named Erica, at the Money 20/20 event at Las Vegas. Between these two, the financial sector has seen many similar initiatives, not just in the US, but globally. Toshka Bank (Otkritie Financial Group) and Barclays Africa (or Absa Group) have launched in-house chatbot applications. The trend has given rise to a new wave of solution providers—the third-party chatbot provider.

LT-Innovate's insight:

How multilingual are these chatbots? How do they know which language their user prefers to speak?

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First-ever Translation Project Managers Event in Barcelona 1-2 December

The European Language Industry Association – Elia – invites language industry project managers to the first and only conference dedicated entirely to this essential function. On 1-2 December 2016 in Barcelona, with a Pre-Conference Technology Day on 30 November 2016.

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