Will OneHourTranslation become the largest translation company in the world? Really?
OneHourTranslation has big ambitions to “become the largest professional translation service in the world,” according to Israel’s Business Arena. To this end Fortissimo Capital has acquired one-third of OneHourTranslation for $10 million. (It is unclear whether this is Euros, Dollars or Shekels). This company has high ambitions and has grown exponentially in a short amount of time, but in our opinion its becoming the largest translation company in the world is a stretch.
Translation news — market forecast
IBISWorld.com published their Procurement Research Report for Purchasing Translation Services. According to the report average translation rates increased 4.2% per year from 2010 to 2013, which has a negative effect on “buyer power.” The industry has a low degree of volatility, and growth is driven by the increased demands of a growing world trade and rising immigrant populations. The report cites translation company specialization as a factor detrimental to translation buyers.
Will translators lose their jobs because of machine translation?
The never-ending debate continues and this article concludes, based on linguistic arguments, that machine translation is here to stay—but translators won’t lose their jobs if they embrace the new technology. (http://lifeinlincs.wordpress.com/2013/12/04/machine-translation-will-not-take-your-job-honest/)
A newer buzz word in machine translation: vector space
Wired magazine published an article about a new technique developed by Google to improve machine translation results. This strategy involves translation, but not the language kind of translation. Google is attempting to translate linguistic problems into mathematic problems to create vector maps.
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