Stepes innovative work was recently featured in an article in The South China Morning Post, Hong Kong’s leading English-language newspaper.
The language technology start-up Stepes is aiming to revolutionise the US$38 million language services industry with its chat-based translation app that allows almost any multilingual person with a smartphone to become a translator and earn income.
The article went on to summarize Stepes’ far reaching implications for the translation industry and globalization:
[Yao] seems to have picked a ripe market. The global industry for language services was valued at US$38 million in 2015 and is forecast to hit US$47 billion by 2018, according to statistics portal Statista.
“By allowing translation to be easily accessible, we’ll be able to reduce translation costs so that more businesses are able to translate and localise,” said Yao, adding that many SMEs do not localise their content because of the high costs of translation services today.
“Our ultimate vision is to help the world communicate,” said Yao.
By allowing the world’s large population of bilingual people to translate in their own fields of expertise such as medical, legal, financial, engineering and other specialized fields, Stepes aims to improve translation quality while at the same time create what it calls “Big Translation.” Stepes simplifies the translation process and makes translation easily accessible to the world’s untapped language talent, improving translation’s quality and efficiency so more businesses are able to translate for global growth.
Read the full article “The Uber of translation services’: Stepes wants to corner U$38 million language services industry with app for freelancers” here.