BROOKLYN, N.Y., Sept. 13, 2024 (GLOBE NEWSWIRE) -- AI-Media - the global leader in audiovisual encoding technology and AI-driven transcription and translation solutions, and Speechmatics - the market leader in speech recognition technology, today announce a strategic expansion of their multi-year partnership to deliver new and better AI-driven products to market.

This partnership brings together Speechmatics’ leading speech-to-text technology and AI-Media’s unique iCap-based encoding appliances and secure network that seamlessly embeds the technology within customers’ existing workflows and automation systems.

By integrating these capabilities, AI-Media's LEXI 3.0 has been the first AI product to overtake the quality of human-in-the-loop alternatives in the live video market – at a fraction of the cost.

Tony Abrahams, CEO of AI-Media, shared his thoughts on the partnership:

'Our data derived from the performance of LEXI 3.0 has shown Speechmatics to be one of our most trusted engines over the last two years, consistently delivering accurate results that continue to improve. This partnership brings our two companies even closer as we co-develop and ideate innovative solutions for the future of captioning and translation.

Together, we will create solutions that are accurate, reliable and adaptable to the diverse needs of our global clientele.

This collaboration deepens the partnership that has seen AI-Media’s iCap encoding ecosystem emerge as the leading choice of broadcasters and government customers around the world looking to get the best possible performance from these game changing AI technologies from Speechmatics.'

By leveraging Speechmatics’ advanced speech recognition engine and AI-Media’s cutting-edge workflow and encoding technologies, this partnership addresses the diverse and complex needs of various industries, from broadcasting to government and enterprise sectors.

The partnership broadens Speechmatics' reach by integrating its core technology into AI-Media’s LEXI 3.0 product.

Extending the success of LEXI 3.0 into the European broadcast market is a near term objective - Speechmatics' emerging multilingual capabilities align perfectly with AI-Media’s growth plans.

A Vision for the Future

This new partnership elevates AI-Media to become Speechmatics’ largest live captioning market partner, marking a significant milestone in their collaboration.

“Speechmatics has become the leading Automatic Speech Recognition (ASR) provider within broadcast because of our high accuracy and low latency across multiple languages, both live and offline. AI-Media has successfully integrated our technology into their market leading broadcast infrastructure to achieve impressive growth in their chosen markets, and this strategic partnership brings closer collaboration to allow for more rapid innovation and agility. As a result, global broadcasters will continue to get the best captioning service on the market and our combined strength in AI driven captioning can be utilised in a broader array of verticals,” said Katy Wigdahl, CEO of Speechmatics.

Together, AI-Media and Speechmatics are committed to integrating best-in-class technologies to set new industry standards. This collaboration is not just a technical integration but a partnership of vision and innovation, aimed at continuously evolving and adapting to the dynamic demands of the global language services market.

Visit AI-Media at IBC 2024

Experience AI-Media's latest innovations at IBC 2024 and discover why broadcasters and organisations worldwide trust AI-Media and LEXI to transform their captioning workflows. To book a 1:1 meeting click HERE. For more information, visit ai-media.tv.

About AI-Media

Founded in Australia in 2003, AI-Media is a pioneering technology company specialising in AI language and captioning workflow solutions. 

As a global leader, AI-Media provides high-quality AI-powered live and recorded captioning and translation technology and solutions to a diverse range of customers and markets worldwide. 

For the first time in February 2024, AI-Media unveiled groundbreaking data showcasing the superiority of its AI captioning product, LEXI, over traditional more expensive human workflows in the live video market.  

With deep industry experience and sophisticated AI technology to create solutions which streamline and simplify processes, AI-Media empowers leading broadcasters, enterprises and government agencies globally to ensure seamless accessibility and inclusivity of their content. 

AI-Media (ASX: AIM) commenced trading on the ASX on 15 September 2020.   

Visit Speechmatics at IBC 2024

Join Speechmatics at IBC 2024 and explore the latest advancements in Automatic Speech Recognition (ASR) technology. Discover why leading broadcasters and organizations like AI Media trust Speechmatics for real-time, accurate, and scalable ASR solutions. To schedule a 1:1 meeting, click HERE. For more information, visit speechmatics.com

About Speechmatics

Speechmatics is a global leader in Automatic Speech Recognition (ASR) technology, trusted by the biggest brands in the media and broadcasting industry. Our cutting-edge ASR solutions deliver the lowest latency and highest accuracy in the market, providing broadcasters with the fastest, most reliable real-time transcription services available.

Pioneering Innovation in ASR: We continuously push the boundaries of ASR technology to ensure our customers stay ahead. Our solutions not only capture spoken words but also recognize audio events such as laughter, applause, and music, setting us apart from the competition.

We’re excited to introduce Ursa 2, our latest breakthrough mode, offering an 18% reduction in errors across 50 languages, including enhanced support for Arabic dialects, Irish, and Maltese—bringing our language coverage to all 24 official EU languages. With latency reduced to under 1 second, Ursa 2 enhances real-time transcription at lightning-fast speed without compromising accuracy.

For broadcasters and organizations aiming for precision and speed in their captioning workflows, Speechmatics is the go-to choice.

Media Contact: Fiona Habben – Fiona.habben@ai-media.tv

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5929ce95-d0a8-4632-a788-8e90065db860