Posts tagged with "Deloitte"

One Hour Translation: Google Wins the Battle of Real Time Voice Translators

OHT used expert in-house linguists to compare the performance of Skype Translator, Google Assistant and Apple’s Siri in translating business and tourism expressions from English into Japanese, French, German and Spanish and vice versa

On average across languages, Google scored the highest – 4.54 out of 6, Skype second (4.32) and Siri third (4.09). Google was the best in Japanese (4.01), German (4.5) and Spanish (4.8), while Siri led in French (4.87) 

Google Assistant is the top performing real time voice translator, according to a benchmark conducted by One Hour Translation (OHT), an online platform which provides translations in more than 100 languages and 3,000 language pairs.

With demand for real time voice translation on the rise, OHT decided to test out the leading services: Skype Translator (run by Microsoft Translate), Google Assistant and Apple’s Siri, and rank them for accuracy.

With the help of expert in-house linguists OHT took 16 business and 10 tourism expressions and translated them from English into Japanese, French, German and Spanish and vice versa. The same sentences were then given to real time voice translator devices, apps and digital assistants to see just how they performed. The results were rated by the linguists on a scale of 0 to 6.

On average across languages, Google scored the highest – 4.54 out of 6, Skype second (4.32) and Siri third (4.09). Google was the best in three out of the four languages – Japanese (4.01), German (4.5) and Spanish (4.8), while Siri led in French (4.87).  Overall Japanese was the hardest language to translate with an average score of 3.7.  French was the easiest language for the instant voice translator devices to translate with an average of 4.75, followed by Spanish (4.54) and German (4.41).

“The real time voice translators were more accurate in translating tourism related experssions in comparison to business expressions” said Yaron Kaufman, chief marketing officer and co-founder of OHT. He attributed this to the use of a lot of business-related abbreviations which are not easily recognized by real time voice devices. Kaufman added that “despite the recent improvements in all of the assistants we tested, real time voice translations still cannot be relied on for business related content.”

Some examples of the sentences: “Stay on budget for this campaign, we can’t have it affecting our ROI”; “R&D are cutting too many corners, the product is undeployable”;  “Schedule a meeting between your CMO and our product manager”; “Do you have any allergies? This dish contains peanuts and avocado”; “I need to find the fastest way to the airport, my plane is leaving soon”; “My travel insurance should cover that bill.”

There are also new developments on the horizon in the field of real time voice translation. Among other advancements, Amazon is planning to release a DIY toolkit for creating translation apps and Xiaomi has released a new and advanced physical device for real time translations.

About One Hour Translation

One Hour Translation (OHT) believes that businesses should be able to reach any customer, anywhere, anytime, with no language barriers.

One Hour Translation’s AI powered cloud-based translation management platform, HALO,  helps enterprise customers reduce overhead by automating their translation process and workflow. HALO combines automated workflows, Neural Machine Translation (NMT) and professional translation services, to process all of the enterprise content quickly and easily via API/WEB. A dedicated NMT engine is automatically trained as the translations proceed and as a result the project’s cost keeps decreasing while translation speed improves. HALO is easy to implement and use, encrypted, secured and allows the enterprise to use any mix of its translators and reviewers with those of OHT, as well as any mix of NMTs for optimal quality and cost. The platform also allows OHT to manage a company’s resources and in-house budgets earmarked for translation in order to obtain the best possible results.

OHT is the leader in translations for enterprise customers, currently serving over 60 percent of the Fortune 500 companies, including Coca-Cola, Deutsche Bank, Microsoft, Amazon, IBM, HP, Xerox, Acer, Shell, Deloitte, HSBC, Procter & Gamble, IKEA, 3M, McCann, Allianz, Xiaomi and many other organizations.

One Hour Translation specializes in translation for 30 expert domains, including law, technology, marketing, website translation, applications, software and more.

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ONEs – OHT NMT Evaluation Score

Finance Trends for 2019 and Beyond

Trends That Will Impact the Finance Industry 2019 – 2020 and Beyond

It is undeniable that the pace of technological advancement is the major force behind the changes happening in the global financial services industry (FSI). Financial institutions are left with no choice but to adapt their business models accordingly to remain competitive in the markets they operate.

FSI outlook reports for 2019 to 2020 and beyond by various top financial consulting firms in the world, PwC , Cooper Parry and Deloitte, show that FinTech, digitization of operations, data analytics, client self-service, and blockchain are the most likely sources of disruptions in the financial services industry over the next two years. This article captures the real-world implications of these changes and provides insight on how organizations can prepare to win in the increasingly dynamic playing field.

FinTech to Steer the new Business Model

Today, there is nothing more disruptive in finance than FinTech. Using service-oriented innovative technology, FinTech start-ups have finally become the unopposable tools for breaking into financial services. A recent Global FinTech Survey by PwC showed that traditional players are worried of losing about 25% of their business to standalone FinTech start-ups within the next 5 years.

In a smart move to remain competent in the industry, incumbents are smartly embracing disruptions. Large to small financial institutions have come to the realization that it is no longer about integrating technology into business operations but using financial technology as a central facet of new business models.

Analytics: Key Decision-making Tool

Data has never been more critical to businesses like it is today. Data analytics combined with artificial intelligence and machine learning will be key technological trendsetters for the financial services industry in 2019 and beyond.

Business analytics is continually becoming an essential tool for truly transforming financial institutions into data-driven organizations. Financial institutions are expected to invest in technologies surrounding data analytics to realize the massive power of data on hand and that which they can collect (big data). 2019 and 2020 will therefore witness massive increase in data utilization by these institutions. Even institutions that offer products for Forex trading for beginners are keen to use advanced data utilization technologies to ensure that their customers are able to make profitable Forex trades from the onset of their careers.

Mainstream Digitization

Retail banking, payments, insurance, and wealth management are areas in which digitization of operations is already taking place at great lengths industry-wide. With internet development and continuous technological advancement, financial institutions are putting more investments into digitization of more and more business operations to achieve more efficiency.

The e-commerce way of doing things has become the new normal in financial services. This is evidenced by the tendency by financial organizations to transform traditional operational units into e-business units. This trend has also caught pace in financial regulatory institutions.

Shift to Client Self-service and Increasing Value of Customer Intelligence

Delivering superior client experience is one of the major competition grounds for banks, insurance companies and investment management firms. Every other day, these organizations are looking for new technologies to provide more relevant services to their clients and in the most seamless ways. Self-service platforms are especially growing in popularity.

As services become digitized, financial institutions are keen to provide technology-based solutions that add value and enhance client experience. It is no longer just increase the number of self-service functionalities.

Of critical importance is making sure that technological capabilities being developed are customer-intelligent. Customer intelligence deals with how an organization interacts with its customer as it seeks to meet the client’s needs. Being customer intelligent is a key trend that will potentially drive FSI revenue and profitability going forward.

Blockchain Will Become an Integral Part of Financial Institutions

Just recently, one of the world’s biggest banks, HSBC, reported how using a blockchain-based system enabled it to make significant cost savings on Forex transactions. It is evident that blockchain has started shaking things up in financial services. There is a surge in funding and innovation in FinTech and blockchain. There are convincing signs that the use of blockchain is likely to become a crucial part of financial institutions’ operational and technological infrastructure.

Adaptability: How to Win in Financial Services

Future winners in FSI are institutions that can envision and execute initiatives at a faster pace than the speed of change. The institution must have an evolving mindset and culture to enable it acquire the right talent and capabilities that will help to develop flexibility and innovativeness. It must also be prepared to invest adequately in securing its brand as a technology leader among its competitors. This is the only way to gain sustainable growth in the increasingly digital future.

Roderick Jones

After Equifax’s large-scale cyber attack was revealed, Deloitte is the latest company to have been breached in a similar attack.

Available to discuss the implications of the Deloitte cyber attack, and what this could mean for companies and consumers, is cyber security expert Roderick Jones.

The Founder & CEO of cyber security firm Rubica, Roderick previously worked in the Special Branch of Scotland Yard, focusing on international terrorism. Below, Roderick explains the main takeaways from the latest attack:

  • The information illegally accessed by attackers will, where possible, be meshed with other known data to create further exploits against companies and individuals
  • Executives and their networks are increasingly at risk from cyber-breach due to the amount of personal data being lost

While six of Deloitte’s clients have been told that their information was compromised in the hack, the latest cyber attack is yet another example of the growing threat to companies’ and individuals’ online information.

About Roderick Jones // San Francisco
Roderick Jones is a global security leader with over 15 years of experience operating at the highest levels of the international security environment. During his time as a member of Scotland Yard’s Special Branch, Roderick focused on international terrorism and the protection of a prominent British cabinet member. He is the founder of cyber security firm Rubica, the global authority on cyber security and privacy for the world’s elite. Originally a service of Concentric Advisors, a physical security firm, Rubica provides those concerned with online crime the most effective digital security available. Jones received his master’s degree from the University of Cambridge.
Roderick on Ora TV: https://goo.gl/YHLGZ4