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Shamus Sayed, COO of Interpreters Unlimited, and Anna Wyndham, Slator’s Head of Research, join SlatorPod to discuss key findings from the 2024 ALC Industry Survey Report, covering industry growth, profitability, service diversification, and the impact of AI.
Shamus kicks off the podcast by explaining the origins and purpose of the Association of Language Companies (ALC) and its annual survey, which aims to establish industry standards and measure the value added by language service companies.
Anna shares details about the survey, which saw a 50% increase in participation from last year, with 127 companies taking part. Participants mainly consisted of small to mid-sized companies, with a significant portion coming from the US.
Shamus provides insights specific to interpreting services, noting strong revenue growth and the rise of remote interpreting. He discusses the impact of AI, challenges in sourcing skilled interpreters, and pricing trends.
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Anna highlights that companies are focused on growing revenue, developing new service offerings, and cutting operational costs. She also discusses the heightened interest in M&A activity, with smaller companies more interested in selling, while larger ones remain opportunistic buyers.
Shamus recaps the ALC annual summit in Montreal, highlighting the camaraderie, networking, and potential business opportunities that arose from the event.
Looking ahead to 2025, Shamus shares that the ALC aims to focus on AI integration, workforce development, service diversification, and M&A support.
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