Any type of content that requires translation would be treated as a new business for translation industries. Today, the share of content to be translated has been considerably reduced.
Some ideas on how and why this happened and how is it important to translation companies are discussed in this article.
FIPO Translation Killed By Google Translate
FIPO is “For Information Purpose Only”. The term was created to make the difference between the content that is just for information and that for publishing. As it is obvious that anything or content being published should be perfect in quality, but this is not necessary for FIPO. When someone requires just the meaning of content in a different language, they will be more tolerant to inaccuracy.
These translations represented a huge chunk of translation business. Some years ago, companies that were doing global businesses would translate content and documents “just for information”. For example:
Since January 2016, Google Translate is supporting 90 different languages and serves almost 200 million people on daily basis. The translations for which people were paying some huge bucks about 10 years ago are now getting free of cost. The quality of this translation is much more than professional translation but they work so well when you agree to exchange translation quality free of cost.
Machine Translation Challenges
Machine translation services have become a great source for translations but still, it is too far away from reliable and accurate translation for publishing. For example, there are many cases of mistranslations from machine translations.
Increasing Demand for Translation Services
Regardless of downtime in China and some other problems worldwide, the business of translation is actually is also growing steadily. When non-native English people came to the US and the companies take overseas products, demand for translation also drove upward. However, industry clients will remain conscious to best service, quality, and price, globalization as well as an increase in immigration will also increase demand for services over next five years.
The demand for technical translations has increased with decrease demand for FIPO. Even machine translation has also created a big market for translation industries. But now, they offer human edited machine translation. Such translations are done first by machine translation engine and then finalized by a human editor. This type of machine translation is more complex because it has more options, which produce better results comparatively.
The hybrid applications are best for major projects to be completed in limited time periods. Now, they are representing a new business opportunity for translation companies.
Translation Companies and the End Result
The end result is an actual increase of translation business all along with the changes in the art of the industry.
The more and more translation dollars are becoming available to translation industries in the market. Though, all the countries might not get the same growth. Big translation companies are equipped to influence the technology and professional fields (i.e. localization, medical translation, Finance translation, etc.) to handle major projects that are much complex as compared with human edited machine translation projects.