NEWS
2023/06/01
alt Inc. completes Acquisition of Japan's No. 2 Human Transcription Business
～Human-in-the-Loop accelerates AI accuracy improvement ～
alt Inc.(https://dev-corporate-web.poc-dev.com/en/), a Japan based developer of AI Clone and Personal Artificial Intelligence (P.A.I.®️) (Head Office: Minato-ku, Tokyo, Japan; CEO: Kazutaka Yonekura), has completed the acquisition of the human-powered transcription business (Coelabo business and Yasutoshi business) operated by IP Partners, Inc.
【Background of the Acquisition】
As new AI-based automatic transcription services continue to emerge at a rapid pace, alt's AI GIJIROKU has achieved the highest level of voice recognition accuracy in Japan. This accomplishment is a result of a unique algorithm that employs personalization technology, developed through research contributing to P.A.I. Now, AI GIJIROKU has become the world's most accurate voice transcription service. Recognizing the correlation between the growth of the speech recognition market and the speech recognition accuracy, alt has acquired the human transcription business with the second largest market share in Japan. This aims to further enhance AI speech recognition accuracy through Human-in-the-Loop. This acquisition will not only enable us to provide 100% accurate human transcription services but will also allow us to own and operate our learning cycle loop to improve the automated transcription accuracy by AI to 100%.
【Future developments】
In the English-speaking world, where speech recognition is relatively easier, a speech recognition market worth over 2 trillion yen has already been established, and it is expected to grow further. With our proprietary algorithms and high speech recognition accuracy using the Human-in-the-Loop technology gained through this acquisition, alt intends to lead the speech recognition market in Japan and the rest of Asia, where speech recognition is relatively difficult. As an AI company owning large-scale language models (LLMs), we will also aim to develop solutions that increase efficiency and DX for all business operations using 100% accurate text data, which is highly compatible with LLMs. We promise to deliver higher quality and more affordable services by integrating our technology and human touch to meet the need for 100% accurate text transcription (a market worth tens of billions of yen), a demand that continues to persist in Japan.
【Significance of Human-in-the-Loop】
Human-in-the-Loop refers to a system in which human feedback is incorporated into the machine learning process. This includes preparation of training data, model training, model deployment and use, and further accuracy improvement. The introduction of Human-in-the-Loop into the alt speech recognition system is anticipated to accelerate AI GIJIROKU's growth in accuracy by establishing a framework in which incorrect speech recognition results are promptly corrected by human operators. In addition to speech recognition, Human-in-the-Loop will also work effectively in other alt machine learning systems. It is expected to contribute to improving the accuracy of a wide range of alt services, including LLMs, where human feedback is critical.
We will continue to strive for the realization of a society in which all people can make the most of their lives without being bound by the constraints of time and space, and to the realization of our mission of "freeing mankind from labor."
■ About Coelabo Business and An Awakening Business
Launched in 2008, Coelabo is a transcription service capable of handling a wide range of projects, from highly specialized projects to same-day or next-day deliveries. Our writers are experts in their fields of expertise and can transcribe your documents quickly and carefully.
■ About alt Inc.
Founded in November 2014, alt is a venture company that "aims to free people from unproductive labor" by creating P.A.I.®️ (Personal Artificial Intelligence) and AI clones.
We also develop and provide SaaS products such as AI GIJIROKU, which utilizes speech recognition technology derived from the development of AI dialogue engines.
3.5 billion yen was raised in a Series D funding round in June 2022, bringing our total amount raised to 6.2 billion yen.
https://dev-corporate-web.poc-dev.com/en/
<Inquiries regarding this matter:>
Misako Nishizawa (Media Relations)
e-mail：press@alt.ai