DeepL, a prominent artificial intelligence translation startup from Germany, introduced traditional Chinese as a new language option. This move aims to enhance its footprint in Asia.
What Happened: The Cologne-based company, valued at $2 billion, primarily targets businesses with its translation software. Traditional Chinese is widely used in Taiwan and Hong Kong, both significant hubs for technology and finance, which influenced DeepL’s decision to launch in these markets, reported CNBC on Tuesday.
CEO Jaroslaw Kutylowski highlighted Taiwan and Hong Kong as “strong technological markets” and emphasized Taiwan’s role as a major exporter, particularly in the semiconductor industry.
This launch follows DeepL’s previous expansions into Asia, where it already supports Japanese and Korean languages. Kutylowski noted similarities between the Taiwanese market and other successful Asian markets like Japan and Korea.
DeepL’s traditional Chinese operations will initially be managed from Japan, with potential plans to establish a physical presence in Taiwan or Hong Kong in the future.
Kutylowski indicated that DeepL’s focus will remain on expanding its Asian language offerings, with more languages expected in the coming months. The company is also developing a spoken language translation product, although no launch timeline has been provided.
"Translation of spoken language is going to be an important part of our strategy in Asia. We will see more and more of that product being a revenue stream," Kutylowski said.
Additionally, YouTube announced in June 2023 its AI-powered dubbing service, aiming to simplify video dubbing in various languages. This initiative, part of Alphabet Inc.’s efforts, highlights the increasing role of AI in content creation and distribution.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
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