Flitto’s Language Data Sales Volume Grows 3-Fold within 3 Years | Industry
Breaking Tech Industry news from the top sources
– Flitto solidifies position as top corpus firm, recording a 3-fold increase in sales volume from 2.1 million in 2015 to 6.86 million in 2017
– Most popularly requested translation language ‘English’; top category for translation requests ‘colloquial conversation’; top corpus-purchasing firms ‘IT and software companies’
Flitto (CEO Simon Lee, www.flitto.com), the integrated translation platform, published a report that outlines the corpus sales results for the past 4 years on the 25th. Statistics point to how Flitto’s corpus sales and generation volume have increased steadily for 4 consecutive years. It is especially worth noting that Flitto has seen a jump in growth between 2017 and 2018, with corpus sales and corpus generation volume expected to surpass 30 million and 200 million by the end of this year.
According to the report, Flitto’s yearly corpus sales volume reached 6.86 million in 2017, and has exceeded 3.82 million as of May 2018. This year’s sales volume is expected to pass the 30 million mark, as Flitto gains traction through partnerships with Baidu, Tencent, Microsoft, NTT Docomo and other worldwide corporations. Furthermore, Flitto’s yearly corpus generation volume recorded 110 million in 2017, and has exceeded 95 million as of May 2018. This year’s generation volume is expected to reach 200 million by the end of this year.
Amongst the 23 languages offered for translation, ‘English’ was observed to have the most translation requests. English was followed behind by Chinese in 2nd, Japanese in 3rd and Korean in 4th place. European languages such as Spanish, French and Russia came in 5th, while Arabian finished 6th.
Moreover, the top categories for translation requests was dominated by ‘colloquial conversation’, which was followed by ‘travel and shopping’ and ‘software’, in 2nd and 3rd place, respectively. The report revealed that while corpus is vital for everyday conversation, IT and software firms also possess a high need for expertise on linguistic data. In alignment with this observation, IT and software companies surfaced as the top firms to seek out Flitto’s corpus. Other companies that exhibited a high corpus purchase rate include mobile platforms and government R&D institutions, in this order.
On a different note, ‘parallel corpora’ proved to be the most popularly requested corpus type, ensued by ‘audio’ and ‘image’ in 2nd and 3rd place, respectively. Audio is emerging as a popular type of language database due to the development of AI assistants and voice recognition technology. Flitto harnesses both artificial intelligence and collective intelligence to provide not only high quality parallel corpora, audio and image translations, but to also acquire high caliber corpus through a variety of translation outputs.
Simon Lee, founder and CEO of Flitto, remarks “the future of the translation industry, including the artificial intelligence sector, rests on obtaining corpus from human translators. Flitto possesses the capability to channel an international pool of translators to generate corpus of high caliber. As such, Flitto will continue to produce corpora that reflect the needs of customers and will contribute to the development of the translation market.”
I am interested in applying design thinking to the business. I love to code in Central Park on weekends and build something people love to use. You can reach me at email@example.com