Read about the translation industry trends that will dominate 2024: What challenges lie ahead?

Read about the translation industry trends that will dominate 2024: What challenges lie ahead?

Just as if we were fortune tellers, the start of 2024 makes us wonder about the emerging trends and challenges in our sector for the year to come.

Despite the growing global demand for language services, our industry faces a changing landscape that is evolving at breakneck speed.

In this article we will explore the trends that will dominate 2024. From technological advances to fluctuating market demands, this year promises to be an exciting one.

1. Artificial intelligence (AI) and machine translation (MT)

Artificial intelligence and machine translation have advanced significantly in recent years and we anticipate that in 2024 their expansion into the translation industry will be more established and more evident than ever before.

The implementation of new AI-based systems has improved the accuracy and efficiency of machine translation, although for the time being it is neither perfect nor suitable for all projects and languages.

For years now, our commitment at Interglossa has been to integrate these technologies into our processes without losing the human side of our services. In 2024, our team of managers, translators and proofreaders will remain the cornerstone of our company.

2. Expansion of remote interpreting

The pandemic accelerated the adoption of remote interpreting. In 2024, this technique will continue to evolve to become an integral part of the industry.

Advanced videoconferencing platforms and online simultaneous interpreting technologies allow interpreters to work from anywhere. They are thus able to provide services to global clients without the need for physical travel.

Moreover, big technology companies will continue to devote huge resources to these developments, although this will not always be the best option.

3. New profiles and skills

In 2024 we will continue to witness the introduction of new language and technological skills, as well as the creation of new strategic profiles related to AI for language processing.

Given this constant evolution, continuous training and proactive participation in industry events are effective strategies to which we dedicate part of our time.

Therefore, our goal in 2024 is to ensure that our team is up to date with the latest trends and technologies, which will allow us to continue to deliver premium services of the highest quality and to remain at the forefront of the industry, while maintaining a close and supportive relationship with our clients.

4. Fierce competition

The translation and interpreting market is highly competitive. In 2024, competition will undoubtedly continue to be one of the most formidable challenges.

SMEs in this sector are often forced to compete with large companies and platforms. To address this challenge, smaller companies must focus on their strengths which, in our case, would be the highly accommodating and personalised services we provide, the combination of technology and specialised knowledge, without forgetting listening closely to what our customers say.

5. Squeeze on rates

The squeeze on rates is another constant challenge in the translation industry. In view of the other choices available on the market, some customers base their decision solely on price, unaware of the risks of neglecting factors that may be decisive in terms of the quality of the texts.

In 2024, businesses must find ways to highlight their added value over cheaper or even free options, whether through personalised services, offering end-to-end solutions and not just services, and of course ensuring data confidentiality.

6. Focus on cultural localisation and specialised translation

Localisation goes beyond simply translating words; it involves adapting content to “fit” the local audience, culture and values. In 2024 there will be an increasing focus on cultural localisation to meet the demands of specific markets.

Moreover, demand for specialised translation is on the rise. Sectors such as technology, law and finance require companies that are not only technologically advanced, but also highly qualified.

Therefore, in 2024 we expect localisation and specialisation to be key growth factors.

 

Challenges and opportunities.

In conclusion, the translation and interpreting sector is undergoing a significant transformation.

In 2024, translation companies and translators must be up to date with the latest technological and sectorial trends, as well as to make room for them in their day-to-day work. That said, we believe that these trends are not only indicators of where the industry is heading, but also afford exciting opportunities to grow, improve our services and provide translations that exceed all expectations.

Ready for a challenging 2024?