December 2022 Summaries

With the holiday season almost upon us, now's the perfect time to reflect on the past year and how much Speechmatics has accomplished. The company finalized its Series B Funding, securing its future plans and accelerating global expansion across the United States and Asia-Pacific regions. This funding enabled improvements in infrastructure and supported the addition of 14 new languages to their offering, now supporting over half of the world's population. The team achieved significant milestones, including the launch of a Financial Language Pack and Entity Formatting feature, which made a real difference in various use cases. The company also won awards and saw accuracy uplifts. The CEO, Katy Wigdahl, highlighted the importance of teamwork, celebrating the Annual Summer Event, where staff from 164 employees gathered for the first time since before the pandemic. Speechmatics has big plans for 2023, including a partnership with NVIDIA to improve AI systems and train larger models. The company is compiling an annual Voice Report to gather insights on the speech industry's future direction. Katy Wigdahl expressed gratitude to the team, investors, partners, and customers for their hard work and support. Speechmatics wishes its users a happy and restful festive season and invites them to try out their API with a free trial.

Speechmatics had an incredible 2022, with huge improvements in accuracy and the introduction of new features such as Entity Formatting, which makes transcripts more readable and consistent across 14 languages. The company was named in the top spot for AI Magazine's Top 10 AI/ML companies, received funding of $62 million, and launched several game-changing features including Language Identification and a Real-Time SaaS API. Speechmatics also attended major industry events, partnered with NVIDIA, and held its first LinkedIn Live interview. The company is now supporting over half of the world's population with its speech-to-text technology and is looking forward to 2023, where it will release its annual Voice Report and continue to innovate in the field of speech technology.

At Speechmatics, the company prioritizes transparency and vulnerability to foster a positive work environment. They use four exercises - 'Constellations', 'Journey Lines', 'Clean for Teams', and 'Team Canvas' - to align with their core values of removing ambiguity, creating trust, and promoting employee safety. These exercises aim to create a sense of belonging, human connection, active listening, shared purpose, and collective growth, ultimately driving innovation and delivering award-winning speech-to-text engine.

The financial sector is under increasing pressure due to new regulations aimed at protecting against financial fraud and crime, with non-compliance resulting in significant fines and reputational damage. To monitor all interactions, companies are using speech-to-text transcription to produce usable and searchable speech data for risk and scenario-based insights, flagging compliance issues. Accurate transcription is crucial to maintain confidence in compliance solutions, particularly in a global market with diverse languages. Speechmatics' speech-to-text technology uses machine learning to transcribe human-level speech into text in real-time, covering over half of the world's population, including key financial industries. The company offers a Financial Language Pack tailored to the finance sector, improving discoverability and readability of unique terms and formatting numbers, dates, and currency. With on-premises and SaaS deployment models, Speechmatics provides organizations with accurate speech data to meet regulatory obligations and improve customer experiences.

Speechmatics, a deep tech firm, has partnered with NVIDIA to upgrade its machine learning capabilities using the company's accelerated computing systems and software stack. The partnership enables Speechmatics to deploy larger models, increasing its speech-to-text API's processing power and efficiency. With this upgrade, Speechmatics aims to improve its self-supervised learning technology, which requires huge datasets for training and large amounts of computation. The use of NVIDIA's DGX H100 system with eight new Tensor Core graphics processing units provides a step change in the speed and efficiency of training neural networks. This partnership is critical as speech-to-text becomes increasingly integral to various industries, including contact centers, media, and event captioning, among others.

The world of advertising is experiencing a prosperous period with internet advertising valued at $438 billion in 2021 and expected to grow at a CAGR of over 9% until 2030. To optimize ad placement, Adtech Platforms must consider using AI transcription, which has become the most time and cost-efficient way to improve accuracy. Speechmatics offers a global solution with support for 48 languages, enabling platforms to tap into emerging economies like India and China. The company's speech-to-text technology includes innovative features such as Custom Dictionary, allowing brands to locate specific words in context, and faster processing times of hour-long files in under 5 minutes. With various deployment options and data safety standards, Speechmatics provides Adtech Platforms with the tools to differentiate themselves and stand out from the crowd.