Our world is an amalgamation of different cultures encompassing diverse languages of each region. Historically, a language barrier has posed as a major challenge in communicating with the people from other territories.
Take, for example, an online presentation or training session where the information being share is relevant, but the presenter is inexperienced. On the other hand, if the presenter has a different accent, then it may lead to misinterpretation by the learners.
However, with the emergence of transcription tools, it has become significantly easy to understand languages. Transcription helps in cleaning (and clearing) up what’s said in addition to generating a written record of a video or audio presentation.
Technology though, has its limitation and requires a human touch to improve accuracy. Verbit.ai realized this and created its AI-powered transcription tools and captioning platforms. Verbit combines the technology with human intelligence to offer smart solutions.
Harnessing the Power of Technology
Verbit provides accurate, word-for-word transcripts and captions for the education, legal, media, corporate, and general business markets using an AI-powered transcription and captioning platform.
Verbit also provides Audio Description for vision-impaired or low-vision viewers, as well as Audio-Visual Translation to meet the demands of international consumers and enable content creators reach a wider audience. The company also delivers live integrations with major LMS, web-conferencing, and media hosting platforms.
Verbit’s technology is unique in which, it combines artificial and human intelligence to provide vertically specific transcription and captioning, resulting in customized solutions for each industry.
Verbit’s AI is able to construct custom models that improve over time because it is taught based on the vertical and client at hand. Verbit is a one-stop shop for real-time, post-production, translation, and audio description as the only vertically integrated Voice AI platform.
For ADA, FCC, and other privacy compliance such as GDPR, HIPAA, VPAT, SOC2, and others, professionals and students rely on Verbit’s solution for accuracy, scale, and customisation.
Verbit’s methodology also employs Machine Learning (ML) and Natural Language Processing (NPL), as well as a network of over 35,000 hand-picked, expert transcribers, to achieve over 99 percent accuracy and a ten-fold faster turnaround time than the industry standard.
Offering an All-inclusive Platform
Verbit enables effective business communication with highly accurate enterprise-grade transcriptions, making information searchable, accessible, and actionable.
Verbit’s word-for-word transcripts offer speaker identification, interactivity for note taking, searching, sharing, live integrations with web conferencing, and file sharing platforms, as well as captioning for meetings of all kinds. For example – town halls, board meetings, webinars, internal communications, financial earnings, interviews, and more.
With remote work and virtual events as the ‘new normal’, all professionals can benefit from the addition of speech-to-text tools like Verbit’s, to make communication channels clearer. In addition to this, Verbit also helps companies to improve SEO and increase their site traffic.
The Visionary Leader
Verbit was founded in 2017 by Tom Livne. Tom had a great career in law before joining the startup industry, where transcripts are crucial. However, he was dissatisfied with the lengthy transcription return time and lacked the tools to address the problem head-on.
Tom decided that he was more passionate about entrepreneurship than working as a legal advisor, which is when he founded the world’s leading AI-powered transcription and captioning platform. In just four and a half years, Tom has raised $550M in funding, allowing Verbit to achieve strong 6× year-over-year revenue growth and over $100 million in annual recurring revenue.
Through his experience, Tom advises the budding entrepreneurs, saying, “Apart from setting clearly-defined goals, you have to surround yourself with a team of experts you can trust to help bring your vision to life. Additionally, companies must also prioritize leading with passion and purpose. You must be dedicated to the cause to connect with an issue.”
The Winning Combination of AI and Human Intelligence
Technology-only transcription and captioning platforms are only 75-80% accurate, which is nowhere near enough for most professional transcription use cases. The use of human transcribers in conjunction with technology is needed in order to grasp the context, understand heavy accents and low audio quality.
The industry can expect to continue seeing the winning combination of AI and HI (human intelligence), which has proven to deliver a strong, near-perfect transcription and captioning end product that delivers 99%+ accuracy.
Verbit, for example, created an online collaborative captioning platform where numerous transcribers collaborate to analyze and fine-tune AI-generated transcripts at the same time. While the AI component is quick and learns from its mistakes in minutes, thanks to self-learning algorithms, it also shines when given repetitive tasks.
Adapting to the Pandemic
Verbit remains well-positioned to meet its clients’ changing needs and the challenges posed by the epidemic. Talking about the pandemic experience, Tom said, “The bulk of our university, media, and corporate customers shifted to remote and distance learning, and we were able to help them with this transformation.”
“With the trend to remote proceedings and digital depositions, our devoted team worked relentlessly to help the legal community. We’re listening to our clients and developing technologies to support hybrid learning and work models in a variety of industries. We want to help people adapt to the changing world of employment. Customers trust us because of our commitment to innovation and listening to the market.”
Bonding Ties with Customers
One of Verbit’s corporate customers, Rose Li & Associates (RLA), produces large-scale events which engage decision-makers and leaders in the science community around key research.
RLA works with Verbit to verify that its virtual events meet government accessibility guidelines and the research being presented is subtitled and reported on appropriately.
The Next Chapter
When asked about his future plans for Verbit.ai, Tom shared, “We will enhance product development expenditure and continue the company’s vertical and global expansion to maintain our hyper-growth pace. In addition to this, the company will double down on its acquisition strategy.”
