ATA-NEWS-2017

PowerEcho Released In ATA, Transn Embarked On Globalization

According to sources concerned, the 58th annual conference of ATA (American Translators Association, ATA in short) was successfully held in Washington D.C. on October 25th . During the 3-day feast, PowerEcho Global version, one pioneering product by essence of AICT (AI Corporate Translation), was officially released in ATA.
TRANSN ATA

PowerEcho Global Verison Published in Global Markets
ATA Annual Conference is a world-renowned feast to gather worldwide translators and interpreters. The goal of the conference is to boost translators and interpreters’career path. ATA is a professional association founded to advance the translation and interpreting professions and foster the professional development of individual translators and interpreters. Its over 10,000 members in more than more than 100 countries include translators, interpreters, teachers, project managers, web and software developers, language company owners, hospitals, universities, and government agencies.

The global release of PowerEcho (by Transn IOL) undoutedly will pave the way for China Language Service Providers to enter into global markets.

TRANSN ATA
The ATA Conference is a global event for translators, which aims to enhance the professionalism and competence of translators and interpreters and promote their career development. According to information, there will be more than 1,700 leading talents in the industry: such as translation associations, researchers, translation-related training institutions, top-level enterprises around the globe. As one of the exhibitors at this conference, PowerEcho debuted as the authoritative stage of the international translator industry, attracting more international translators to join in and opening the way for the Chinese language service industry to enter the international market.

According to statistics, the world’s traditional translation industry will reach 44.5 billion U.S. dollars in 2017 and 53 billion U.S. dollars in 2020. To face huge market demand, Transn IOL Technolgy Coporation provides “natural habitats” for translators and translation teams and offers product PowerEcho. As a new starting point for globlization in ATA Annual Conference, PowerEcho aims to promote deep penetration in the language service industry by AI technology and help domestic language service industry to transform and upgrade rapidly.
PowerEcho, with combination of MT and translators, empowers promising AI-aided language services

The rapid integration of artificial intelligence and language services industry also inevitably brought impact to practitioners. Before 2011, due to the low accuracy of machine translation, MT was criticized. However, with the application of artificial intelligence technology, the accuracy of machine translation is rapidly improved, and a few peers in language industry are beginning to try the combination way of MT and translators.

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It is worth mentioning that, based on the open Internet model, PowerEcho has realized online real-time communication and collaboration based on the Internet and free translation workflow by integrating abundant practical tools. In addition to the traditional TM model, artificial intelligence technology has been introduced to allow AI to work with translators and teams in a collaborative manner. In short, PowerEcho has following features:

1.Artificial intelligence embedded
AI aided and automatic error correction with 30% efficiency improved and 90% error decreased.

2.Collaborative Translations Synchronized Online
Agile translation workflow with synchronized translation review. Cost-saving by data re-use with 50% project cycle deduced.
3.Language Assets Protection

Cloud assets storage and access management with over 5300 million in-store data

TRANSN ATA

Under the global AI outbreaks, PowerEcho has tapped into global language service markets. With the exhibition on ATA Conference, PowerEcho release will promote the new translation mode to go overseas and be one of the driving forces for global language services by rich productivity.

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B&R Initiative an Impetus for Chinese Companies’ Overseas Expansion

Companies have increasingly been encouraged by the Belt and Road Initiative for going global, said a senior executive of a leading information processing and service provider in China.

“Driven by the initiative, many more Chinese companies have participated in more projects in economies along the Belt and Road Initiative with more investment,” said Shi Xin, vice president of Transn IOL Technology Co Ltd, a language service platform based on big data and mobile internet technologies.

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“Their businesses expanded from the traditional international engineering sector to equipment manufacturing and cultural and media sectors,” Shi added.

The Belt and Road Initiative was proposed by President Xi Jinping in 2013, consisting of the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It aims to promote the interconnectivity between Asia and the rest of the world through two ancient trade routes.

According to the Ministry of Commerce’s latest data, China’s trade with economies along the Belt and Road Initiative saw 26.2 percent growth year-on-year in the first quarter of 2017.

During the same period, China’s non-financial outbound direct investment in 43 economies along the Belt and Road reached $2.95 billion, accounting for 14.4 percent of the country’s total.

The Belt and Road Forum for International Cooperation, which will be held from May 14 to 15 in Beijing, will mean an increase in this trend, Shi added.

“Actually, the forum itself has brought an outburst of our language service business since last year. The forum has great impact and a lot of companies and institutions are getting prepared for it, involving lots of translation and investigative work,” Shi said.

Another new trend on Chinese companies’ road towards going global is that more small and medium enterprises (SMEs) have been attracted to the overseas market, Shi added. “Although our service to SMEs accounts for only about 30 percent in our whole business, it grows 40 to 50 percent annually.”

Compared with large enterprises, SMEs are more cost sensitive and care more about short-term returns. In order to facilitate their overseas operations and solve their concerns, Transn offers tailored products for SMEs, such as TransnBox, an interpreting device with 12 languages.

Packaged solutions are also available for SMEs, including market research, bidding, design, construction and acceptance services.

“The initiative is expected to involve more and more countries, which will be a great challenge for us to offer language services, especially for some unpopular languages. We will strengthen our cooperation with universities and institutions for more talents,” Shi said.

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