Florian and Esther discuss the language industry news of the week, with a legal battle in the UK involving public sector interpreting and the classification of interpreters as freelancers or workers, which could significantly impact the business models of language service providers (LSPs).
The duo explores Google Translate’s recent expansion to support over 200 languages, adding 110 new ones using their large language model, Palm 2.
Florian talks about the insolvency of Landexx, a German LSP, following a pattern of recent bankruptcies in the language service industry in Europe.
Meanwhile, Keywords Studios, a major player in game localization, is set to be acquired by the private equity firm EQT, valuing the LSP at approximately USD 2.2 billion.
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Esther gives an M&A corner, including Translate.One’s acquisition of Enable2 in the UK, Valorem Group’s purchase of Ireland-based TRANSLIT, and difuze’s acquisition of the accessibility division of Blackstone Sight and Sound in Canada. Additionally, Esther covers a pre-seed funding round by Dubme.io, a Spanish startup specializing in AI-powered dubbing.
The podcast concludes with a discussion on the Interpreting SAFE AI Task Force, which has released guidelines for the ethical use of AI in interpreting, emphasizing the importance of maintaining quality, accountability, and transparency in the industry.