This technical product from the Chinese brand "iFLYTEK" is breaking the barriers of multilingual systems with its leading AI translation technology, solving communication problems between people, and continuously exerting the effectiveness of technology to participate in the wave of global economic development. In a market economy system, there is supply only when there is demand, and the birth of a translation machine is no exception.
To some extent, the development of domestic translation machines is closely related to the economic wave of globalization, especially the development of the Chinese economy. Since joining the WTO, China's economy has been constantly integrating with the international community. Among the world's top 500 companies, nearly 490 have invested in China, accounting for about 98% of the total number; Chinese companies occupy 143 seats on the list of the world's top 500 companies.
Living abroad, studying abroad, investing, doing business... For various reasons, more and more Chinese people and Chinese companies are going abroad, and more foreigners and foreign companies are entering China, resulting in a huge demand for translation and language services.
According to the 2022 China Translation and Language Services Industry Development Report released by the Translators Association of China, in 2021, the total output value of companies with language services as their main business is expected to exceed US$50 billion for the first time. Among them, there are 423,547 companies in China with language services business, and 9,656 companies with language services as their main business. The total output value of the companies for the whole year is 55.448 billion yuan, an average annual increase of 11.1% compared with 2019.
It is worth mentioning that the "Report" also pointed out that with the continuous innovation and breakthrough of artificial intelligence technology, the application of machine translation in the industry has become more and more extensive and has been recognized by the market. Among them, there are 252 companies with machine translation and artificial intelligence businesses. Companies like iFlytek, NetEase, Sogou, Baidu, Tencent, etc. are all well-known service providers in the industry. The translation machine products under these brands are endless, occupying a position in the global translation and language service market with powerful functions.
The "Report" shows that in the past year, the volume of translation business in countries along the "One Belt and One Road" has increased significantly, and Arabic, Russian, German, English and Belarusian have become the five major languages in urgent need of the market.
According to a survey conducted by the Translators Association of China, more than 90% of companies said that the "machine translation + post-editing" model can improve translation efficiency, improve translation quality and reduce translation costs. Under the guidance of increasingly complex and diverse demands, machine translation is likely to become the mainstream model in the future translation and language service market, and translation machines will continue to release leading technological benefits on the global economic stage.
Of course, as a technology-based product, the update and iteration of the translation machine not only reflects economic development and social needs, but also embodies the technological innovation-driven product upgrade.