The development of enterprise- and industry-specific AI solutions is expected to drive demand for tech talent. This comes at a time when tech industries have slowed down hiring. CEO of RWS Group, Ian El-Mokadem, said that with AI gaining prevalence everywhere, enterprises and businesses can benefit a lot in the future.
An advantage for India for its content tech solutions
RWS Group is an IP service and technology-enabled content and language provider. According to the latest USA news, India has an advantage in providing content tech solutions. There is great demand for tech content solutions offered by India, both in the domestic and international markets.
Customers and consumers trust generative AI
El-Mokadem went on to say that the emerging industry will train AI algorithms that will help capture data and facilitate using it ethically. Both consumers and clients of RWS will trust the generative AI, which is another source of content. RWS serves large clients like Jaguar Land Rover, Nielsen, and Coca-Cola. The company is receiving more requests for access to domestic markets.
El-Mokadem further claimed that demand for tech talent in the west coast markets of the US has waned. However, his company sees strong demand for tech talent in the rest of the world, primarily in India. The company is actively recruiting tech talent in India.
Localizing the content is pivotal for the revenue stream
El-Mokadem said RWS’s global clients are outside the nation. They want to increase their presence in the domestic market and request that RWS localize that content. Understanding the markets and localizing the content is essential for their revenue stream.
The RWS management has set the goal of expanding into the Japanese and Indian markets in FY 2023. RWS reported £749.2 million in revenues in FY 2022, an increase of 7.9% YoY. Its results have exceeded analysts’ estimates despite economic turmoil in the top markets. The company generated 46% of its revenues in FY 2022 from localization and language translation services. The content technology services contributed 17% of the revenues.
RWS generates a portion of its revenues from Indian clients. However, the company sees growing demand for localization services as global clients from outside India want to improve their footprint in the Indian market. The services help international clients understand the market and boost their businesses and revenues.
Serves media and pharma clients
RWS serves mainly media and pharma clients in India. The company addresses the needs of global clients through its Indian operations. The company also generates content tech solutions for defense and government clients.
According to the latest BNN breaking news, RWS unveiled TrainAI last week to offer machine translation. It also offers AI training data solutions to improve machine learning models. It also provides AI applications. The company is unfazed by ChatGPT, introduced by Microsoft, as it introduces its own AI solutions. Andrew Brode, Chairman of RWS, said the company is on track to meet its guidance for FY 2023. The company expects to report organic growth in H2 2023 with the help of projects that are under development. According to the estimates of analysts, RWS will report a profit of £133.3 million on revenues of £779.2 million in 2023.