Neural Machine Translation Service, DeepL, Raises $100 million (USD)
DeepL's recent funding round has raised over $100 million (USD)!
Created on January 15|Last edited on January 15
Comment
Based in Cologne, Germany, DeepL focuses on Neural Machine Translation (NMT). You can check out their website (and their API) here. They support 29 languages and are able to translate pdf, docx, and ppt files. They also provide a premium service featuring unlimited text translation, data security, and extra customizability. What they boast is accuracy! According to their website, their translation models are three times more accurate than competitors! Their app can be used via a Chrome extension, their web app, an API, and even on mobile!
They most recently raised over $100 million in funding. As AI is exploding in the tech industry nowadays, we are seeing the application of AI grow more and more prevalent. Centered as a field of research, a lot of the academia side of AI hasn't been all that translatable to industry and product. But with how fast AI is progressing and how other countries are pushing for this innovation, it is quite likely that more funding will be directed into this field and we will see a particular and evident stress on AI application and deployment into the real world.
I could picture AI-optimized fast food drive thrus or perhaps automated cashiers or AI security guards using computer vision to monitor multiple camera screens. These applications of narrow AI will vastly improve small but important aspects of our daily lives. But there still exists the ultimate goal of general intelligence. Imagine a smart cashier that doesn't just handle change but also converses with you like a real person (though maybe we have that already with ChatGPT)!
In summary, AI is witnessing a wealth of funding, and thus, research and innovation. This steady supply may entail greater emphasis on AI application and products. The future is a bit mysterious, but I'm excited to see what's in store for AI.
Reference:
Add a comment
Tags: ML News
Iterate on AI agents and models faster. Try Weights & Biases today.