Global voice AI company honored with “Best Speech to Text Solution” award in prestigious international annual awards program

Verbit, the market leader in voice AI transcription and captioning solutions, announced that it has received the “Best Speech to Text Solution” award in the 5th annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global Artificial Intelligence (AI) market .

Verbit harnesses the power of artificial and human intelligence to provide highly-accurate vertical specific transcription and captioning solutions delivered with a turnaround time that is ten-times faster than the industry standard. Using machine learning and natural language processing paired with the largest professional captioner workforce in the world, Verbit produces word-for-word transcripts and captions tailored for diverse customers in the education, media, government, finance and corporate sectors.

The platform’s AI is trained based on the vertical and customer at hand, giving Verbit the ability to build custom models that improve over time. Additionally, Verbit customers have access to transcripts and captions that comply with their unique, industry-specific regulations and standards.

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“Early on in our journey, we recognized the need to consolidate the heavily fragmented transcription market. Since then, we have strategically been acquiring companies with complementary services and capabilities,” said Tom Livne, CEO and Founder of Verbit. “Over the past year, Verbit has acquired five speech-to-text providers, merging each company’s unique specialties and areas of industry expertise with its AI-powered solution. We use AI to make media sharing in virtually any setting inclusive and it’s this mission that has both sparked interest and earned trust from our investors and customers alike.”

The mission of the AI Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of AI and machine learning related categories, including AI platforms, Deep Learning, Smart Robotics, Business Intelligence, Natural Language Processing, industry specific AI applications and many more. This year’s program attracted more than 2,950 nominations from over 18 different countries throughout the world.

“While AI has greatly improved speech-to-text capabilities, the reality is that technology-only transcription and captioning platforms are only 75-80% accurate, which is nowhere near enough for most professional transcription use cases,” said James Johnson, managing director, AI Breakthrough. “Verbit’s unique hybrid use of artificial and human intelligence represents a breakthrough platform that addresses these rates, allowing users to achieve increased accuracy and ultimately create inclusive environments, enable effective communication, and increase engagement. We are thrilled to award Verbit with our ‘Best Text to Speech Solution’ for 2022.”

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