#234 RWS and BLEND Appoint New CEOs, Microsoft and Amazon Speech AI

Florian and Esther discuss the language industry news of the week, where they explore how AI is influencing content creation and translation, noting its progress and limitations.  A recent study on GPT-4 revealed its ability to match junior translators but lag behind experienced professionals, particularly in nuanced contexts. Florian highlights the public’s heightened perception of the risks of AI, such as OpenAI’s Whisper, in critical sectors such as healthcare, where transcription errors and hallucinations can have severe implications. Esther delves into leadership transitions in the language industry, with notable appointments including Benjamin Faes, a tech veteran with experience at Google and AOL, as RWS’ new CEO. Sorenson appointed Pajet Alves as CEO, while BLEND welcomed Yoav Ziv to lead after significant growth and acquisitions. Anna Albinsson took the helm at Gridly, with plans to expand beyond its gaming localization focus into MedTech and EdTech. In M&A and funding, Esther covers Teleperformance’s acquisition of ZP Better Together for USD 490m, with plans to fold it into LanguageLine Solutions. Meanwhile, Writer.com raised USD 200m in Series C funding, to expand its generative AI capabilities. Florian discusses big tech developments, such as Microsoft’s Translator Pro app for speech and document translation, while Amazon teased its "any-to-any" AI capabilities during the AWS re:Invent conference, hinting at future innovations in multilingual processing. Florian unpacks Straker Translations’ financial results, which reflected industry trends of increased volumes but declining revenue, highlighting pricing pressures. Their new Verify.ai tool, designed to validate AI-generated translations, underscores the pivot toward technology.