Is the Translation Industry Showing a Path Forward?

Last week, I attended the Websummit 2024 in Lisbon together with more than 70.000 people.?

Due to personal reasons - see my previous newsletter - I was only able to join for? one day. But I still enjoyed connecting with people and getting some insightful updates.?

One of the presentations was by the CEO and Co-Founder of Unbabel about the developments of the translation industry.?

And it was truly insightful as it became clear that his view has changed from “there will always be humans who are better at translation” towards “most of the translation can now be done better by GenAI only”.?

So, I thought this would be a good topic for today’s newsletter.?

Some more background information:?

The CEO and his team did some research and a competition between “humans with technology” and “GenAI”. And the result in a nutshell (and we talk about high-end translation services):?

• There are narrow areas where humans are still better
• Adding a second human to a “first human” usually worsens the quality
• Most translations today can already be done better by GenAI (that is text based translation)
• The translation task itself is only one albeit an important element of the value chain?

The translation industry, often overlooked, is a fascinating case study that highlights both the challenges and opportunities presented by this exponential age. In this blog post, we’ll explore whether job displacement could overshadow job creation, the implications for other text-intensive industries, and what lessons can be drawn for sectors that rely less on text.

The Translation Industry: A Microcosm of Change

The translation industry has always been at the intersection of language and technology. With the rise of generative AI, tools that can translate text with remarkable accuracy are becoming increasingly prevalent. This advancement raises critical questions:

• Could job displacement be bigger than job creation?
• What happens to other text-intensive industries?
• What can we learn from this for industries that are less text-intensive?

Job Displacement vs. Job Creation

As generative AI continues to evolve, it’s natural to wonder about its implications for employment within the translation sector. While AI can enhance productivity and efficiency, it also poses a threat to traditional roles.

• Automation of Routine Tasks: Many tasks that translators once performed are now automated. For instance, basic translations or repetitive content can be efficiently handled by AI, leading to a reduction in demand for entry-level positions.
• Creation of New Roles: On the flip side, generative AI also creates new opportunities. Roles focused on post-editing, quality assurance, and AI training are emerging. These positions require a different skill set, emphasizing the need for professionals to adapt and upskill.

The challenge lies in ensuring that the workforce is prepared for this shift. Companies must invest in training and development to help employees transition into these new roles, fostering a culture of continuous learning.

Implications for Other Text-Intensive Industries

The translation industry is not an isolated case. Other text-intensive sectors, such as journalism, content creation, and legal services, are also experiencing the ripple effects of generative AI.

• Journalism: Automated news generation is on the rise, with AI capable of producing articles based on data inputs. While this can enhance reporting speed, it raises concerns about the quality and integrity of journalism. The human touch—critical thinking, creativity, and ethical considerations—remains irreplaceable. Given that facts are - or should be - at the center, the situation is different to translation where one text is converted into that text in another language.?
• Content Creation: AI tools can generate blog posts, marketing copy, and social media content, leading to faster production times. However, businesses must ensure that the content maintains authenticity and resonates with their target audience.
• Legal Services: Document review and contract analysis are becoming increasingly automated. While this can reduce costs and improve efficiency, the nuanced understanding of legal contexts requires human expertise. I am involved in a number of conversations and work within the legal industry. This might be a topic for a future newsletter - let me know if you are interested.?

Lessons for Less Text-Intensive Industries

While the translation and text-heavy sectors face unique challenges, industries that are less text-intensive can still glean valuable insights:

• Embrace Technology: Regardless of the industry, embracing technology is crucial. Companies should explore how generative AI can enhance their operations, whether through process automation, customer service chatbots, or data analysis.
• Focus on Human Skills: As AI takes over routine tasks, the demand for uniquely human skills—creativity, empathy, and critical thinking—will increase. Organizations should prioritize developing these skills within their teams.
• Encourage Adaptability: The pace of change is accelerating, and adaptability is key. Companies must foster a culture that encourages innovation and flexibility, enabling employees to pivot as needed.
• Invest in Training: Continuous learning and development are essential. Organizations should provide resources and opportunities for employees to upskill, ensuring they remain relevant in an evolving job market.

Let’s Navigate the Future Together

As we tackle the complexities of the exponential age, the translation industry serves as a poignant reminder of the duality of technological advancement. While generative AI presents challenges, it also offers opportunities for growth and innovation.

The key to thriving in this new landscape lies in our ability to adapt, invest in our workforce, and embrace the changes that come our way. By learning from the experiences of the translation industry and applying those lessons across various sectors, we can ensure that humanity remains at the forefront of this technological revolution.

I invite you to reach out for a conversation about how your organization can navigate these changes and leverage generative AI for success. Together, we can explore the future of work and the role we play in shaping it.

Please share your thoughts.?

Until next time.?

Michael?

P.S. This article was partially supported by GenAI (and a new agent I employed).?