Technology startups are springing up and competing under the rule of ‘survival of the fittest’. Before successfully occupying a dominant position in the market, they have to overcome numerous of challenges. Assistance from different sectors to some extent determines success or failure. For language services, AI translation is deemed as the best solution to support the growth of vulnerable startups.
Lack of Funding
Financial risk is one of the major disadvantages of startups and substantial amounts of money is required as an initial cost. Startups usually rely heavily on financial backups from so-called investors. Apart from conventional venture capital investors, technology startups now also turn to crowdfunding platform for raising finance for businesses. It gains popularity as it is a quick way to raise money with no upfront fees and being able to test the actual public’s reaction to the product.
To better explain the concept to all potential donators from all around the world, product information and proposals should be prepared in different languages. AI translation offers instant multilingual translation within seconds in high accuracy which greatly help startups reduce the cost and time of the translation.
There are thousands of startups emerging every day, just like the small fish in a big ocean. In order to stand out from the crowd, not only does the product matter, it is also crucial to respond and adapt to changes quick. Entrepreneurs should make sure to deliver their messages and concepts to potential customers in a compelling way before their competitors. As a race against time, automated translation helps speed up time-to-market by almost 60% comparing to human translation.
Thanks to the development of internet and social network, startup companies are now no longer restricted to geographical concern when hiring talents. Aspiring individuals from all parts of the world come together to build a successful team. Considering different languages and cultural backgrounds of the employees, it is essential to provide internal training material in their native languages. Being able to handle almost all languages, translation is generated simply by a click when adopting AI translation. It does not only make sure that employees have a clear understanding of the brand and services, it also gives a sense of affability and belonging which could greatly reduce the turnover rate fueled by stressful working environment.
Innovative and original concepts and products are the core values for startups but the prevalence of cybercrimes sets startup companies at risk. Startups face online security threats such as unauthorised access to company’s sensitive information, risk of leakage of patent product information, and employee records. Sending documents for translation could be a possible loophole where hackers can take advantage of. Elite Asia’s creates an individual and confidential glossary and TM for each client when providing AI translation service. We are also committed to protecting company’s information in the course of translation process upon signing of a non-disclosure agreement.
There is no single stop solution to the surmounting challenges facing the technology startups in the violent business world. The management should be resilient and flexible to tackle each obstacle with the help of different new technologies and solutions.
With such huge improvements in AI technology, is AI translation set to become another norm in our lives? Read more to find out…