Verbit is changing the way businesses use transcription platforms. Through the power of AI, the Verbit technology is providing companies a means to automate their transcription needs with high accuracy and low turnaround times. The recent $250M Series E funding at a $2B valuation further highlights Verbit’s commitment to expanding its AI-powered transcription platform for enterprise customers worldwide.
With its latest funding, Verbit wants to leverage its platform as a service that various enterprise customers can use from different industries. But, of course, this raises the question—how can businesses benefit from using Verbit’s AI-powered transcription platform?
This article will examine how and why many companies are turning to AI-powered platforms like Verbit to streamline and improve their operations.
Verbit lands $250M Series E at a $2B valuation to expand its AI-powered transcription platform
Verbit is an AI-powered transcription platform that can make transcription and captioning processes much easier and faster. It has landed $250M in Series E funding at a $2B valuation, which will help them expand their platform globally.
This platform can help businesses save time and money while improving accuracy and quality. Let’s look closer at Verbit’s AI-powered transcription platform and explore how it can benefit businesses.
Automated transcription
Verbit’s automated transcription platform uses sophisticated AI-powered algorithms to turn audio and video recordings into accurate, readable transcripts. In addition, the platform offers near-real-time speech recognition for live transcription and batch processing for pre-recorded audio and video files. With state-of-the-art natural language processing (NLP) technology and advanced speech recognition techniques, Verbit’s platform is designed to produce highly accurate transcripts of any type of audio or video content—even considerably lengthy files with multiple speakers.
By harnessing Verbit’s advanced methods, businesses can benefit in various ways; they can extract the contents of long recordings quickly, manage multiple transcription tasks simultaneously with its cloud infrastructure, customise the interface to meet their specific requirements, integrate with third party applications like Microsoft Word or Slack, easily export transcripts in desired formats like text or automatically create subtitles or captions in numerous languages such as English, French, Spanish & more. Plus, with its enterprise pricing plans that include tools such as reporting dashboards customised to optimise workflow efficiency & analysis services for evaluating understanding & comprehension levels of viewers/listeners – Verbit makes it easier for businesses to maximise the potential of their content.
Human-in-the-loop technology
Verbit’s AI-powered transcription platform combines machine learning, human intelligence and analytics. This approach combines the power of artificial intelligence and human experts to deliver unprecedented accuracy and turnaround times for transcription tasks.
The technology is based on a ‘human-in-the-loop’ generated from people’s and AI’s collaborative contributions.
At the core of this technology lies “Hybrid AI” – a machine learning platform powered by training data sets, multiple algorithms running in parallel, and deep neural networks. Machine learning is used to train algorithms which are then used to identify patterns in audio files that it can recognize with far greater accuracy than humans alone can achieve. However, it cannot do so without help – this is where humans step in: they analyze, edit and refine the output to overcome any shortcomings of the artificial intelligence technology.
This combination of intelligent machines running powerful analytics capabilities coupled with human analysis creates unparalleled accuracy when handling transcription tasks. This means faster turn-around times and cost savings for businesses through automated processes – plus improved reliability and consistency when outputting large volumes of transcripts over time.
AI-powered editing
Verbit’s AI-powered editing feature allows users to use automated transcript corrections and enhancements. Using machine learning and natural language processing technologies, the AI-powered editing feature provides transcripts with spelling, grammar and punctuation corrections. It also allows users to view and adjust recommendations for transcription accuracy.
In addition to its automated editing capabilities, Verbit’s AI-powered transcription platform offers various data-driven insights. With a real-time visual dashboard for tracking content performance, users can analyse recordings across all spoken languages with comprehensive analytics on transcription volume, language diversity and speaker identification. This helps inform decisions that enhance user experiences and drive improved business outcomes. The platform also offers popular integrations with third-party platforms such as Zoom, Webex, and GoToMeeting.
From taking the complexities out of managing transcriptions to providing an array of data insights tailored to users’ needs, Verbit offers businesses a comprehensive suite of features that assists in driving improved business outcomes through automated transcription services delivered in near real time.
Benefits of Verbit’s Platform for Businesses
Verbit is an AI-powered transcription platform that can help businesses save time by streamlining their transcription and caption services. With a recent $250M Series E and a $2B Valuation, Verbit is expanding its platform and offering additional features to benefit businesses.
This section will explore these benefits and how they can help businesses grow.
Increased Efficiency
Verbit’s AI-powered transcription platform can help businesses become more efficient by quickly and accurately transcribing important conversations. The platform relies on Artificial Intelligence, Machine Learning, and human-aided transcription to accurately capture real-time speech across multiple languages. The result is faster turnarounds, improved accuracy, and more streamlined processes for various businesses.
Verbit’s platform helps businesses reduce costs related to manual labour by automating transcription tasks so that employees are more productive and focused on higher value-add tasks. Additionally, Verbit’s platform is available globally in over 25 languages, eliminating the need for localization and significantly reducing data entry costs.
This enhanced efficiency allows companies to get insights faster from their audio recordings which can then be used to improve customer experiences, product offerings, training processes, and overall growth strategies. By having access to such insights quickly and accurately through Verbit’s transcription platform, businesses remain competitive while providing quality services promptly.
Improved Security
Companies can use Verbit’s AI-powered transcription platform to ensure their operations are secure and confidential. Verbit’s platform is based on a highly secure infrastructure that meets industry data security and privacy standards. It is designed to protect sensitive customer information, such as speaker identity. Furthermore, the platform has built-in features to identify malicious actors who try to access the data.
All recordings are securely stored on Verbit’s cloud-based platform and encrypted with the latest technology protocols so only authorised users can access the audio files.
Verbit also employs formidable encryption algorithms that protect transcription results from unauthorised access. This provides businesses with enhanced security for their transcription records and helps prevent any loss of sensitive information that could be exposed in a breach. Additionally, all machine learning models used by Verbit are trained to meet the highest security standards and are regularly monitored for accuracy and compliance. As a result, companies using Verbit can trust that their transcripts will remain secure throughout the process.
Reduced Costs
Verbit’s AI-powered transcription platform offers businesses a variety of cost-saving benefits. For example, Verbit’s automated transcription cuts manual costs significantly, reducing the human labour required to complete the task. In addition, the AI technology vastly improves accuracy, eliminating costly manual revisions. This saves companies time and money in the long run.
Additionally, Verbit’s software integrates well with existing third-party systems, allowing businesses to take advantage of their existing data repositories while keeping costs low. Furthermore, Verbit seamlessly integrates into remote working environments that have become increasingly popular in today’s new business environment. By leveraging this platform, companies can reduce costs associated with traditional offices due to decreased use of physical space or materials such as paper documents for research.
Ultimately, utilising Verbit’s AI-powered transcription platform can help lower overhead and increase overall efficiency for businesses of any size.
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