VIQ Solutions, a Canadian developer listed on the TSX under the symbol VQS, has recently entered into a multi-year agreement with e24 Technologies DBA Transcription Hub (Thub) to deploy its NetScribe artificial intelligence-powered technology to transcription companies in India.
NetScribe utilizes advanced speech-to-text technology to quickly transcribe single speaker and multi-speaker recordings into formatted draft documents for review and editing purposes. VIQ has validated that the product enhances documentation workflow and decreases turnaround times for transcription services in environments with verbatim multi-speaker segments such as education, call centers, and retail industries.
Thub employees have been using Netscribe for the past year to edit AI-generated transcription drafts, experiencing heightened efficiencies, reduced turnaround times, and improved transcription accuracy. This new multi-year contract signifies a deeper partnership between Thub and VIQ.
VIQ President Susan Sumner expressed the company’s eagerness to introduce its innovative technology to a region where transcription production is crucial for filling the global resourcing gap. Sumner highlighted the positive reception of AI in the transcription services industry, emphasizing the benefits of streamlining content creation and efficiency improvements.
In a recent development, VIQ launched a new automatic speech recognition (ASR) technology to enhance efficiency and diarization in multi-speaker environments. This technology, built on a secure cloud platform certified with ISO27001, is expected to advance AI-based translation and foreign language transcription capabilities. The ASR pipeline is custom-built to enhance accuracy by learning from the vast multi-industry datasets VIQ creates, edits, and annotates.
VIQ aims to leverage commoditized speech-to-text platforms and benefit from the rapid advancements in commercial and open-source technologies. The engine-agnostic approach enables different hardware and software environments to utilize the most suitable and efficient speech engine based on customer requirements.
