Technology boosts sales
AI cutting the cost of product translation
Christian Arno: ‘AI is no longer science fiction’
Artificial intelligence is saving companies hundreds of thousands of pounds by cutting the cost of translating catalogues and other product information, according to a senior figure in the industry.
Christian Arno, founder and president of Edinburgh-based Lingo24, said that the use of AI was also slashing the time it takes to get products to market by 75%.
Faster translations are also filtering through to quicker revenue growth, with customers reporting an average increase of 44% in international sales.
His comments came as Lingo24 prepares for the official launch of a new product today at the B2B Next Conference in Chicago.
Lingo24 has spent the past three years working with some of the fastest growing business-to-business (B2B) companies to develop its latest innovation.
“The firms with the fastest-growing B2B e-commerce revenues are using AI-enabled translation to cut their costs, speed up their time to market and, ultimately, grow their sales.”
Mr Arno points to the time and costs savings made for clients when it comes to creating product catalogues.
A typical catalogue might contain 50,000 products, with around 10% of them being replaced each year.
With 100 words of description for each product and ten languages into which the document needs to be translated, the cost of traditional translation work using no technology can soon stack up to several hundreds of thousands.
Clients that opt for AI-enabled translation services are typically saving between 40% and 45%, a potential annual benefit of more than £300,000.
Lingo24 was founded by Mr Arno in 2001 and now has seven offices in Edinburgh, London, Amsterdam, Auckland in Australia, Cebu in the Philippines, Panama City, and Timisoara in Romania.
The company employs around 170 staff and has more than 4,000 translators working for it around the world.