VIQ Solutions Inc. (Nasdaq: VQS) is experiencing a significant increase in its share price, which was up 17.31% to $0.47 at the last check of the market. The surge in the stock price is attributed to the company’s recent announcement of adding new technology to its portfolio.
What new technology has VQS announced?
VIQ Solutions (VQS) has expanded its engine-agnostic portfolio with the introduction of a new Automatic Speech Recognition (ASR) technology designed to enhance efficiency and speaker differentiation in multi-speaker environments. The new ASR technology is a proprietary solution developed by VQS, built on its secure and ISO27001-certified cloud platform. In addition to offering AI-based translations and transcriptions in foreign languages, VQS’s ASR technology will create a unique pipeline to increase efficiency and accuracy by processing, editing, and annotating large multi-industry data sets. This new technology from VQS promises to revolutionize the way multi-speaker audio data is analyzed and understood.
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Due to the rapid advancements of both commercial and open-source speech-to-text platforms, VQS has an advantage by capitalizing on commoditized platforms. VIQ Solutions offers a wide range of solutions independent of speech recognition programs, cloud infrastructure, and hardware. An engine-agnostic approach allows them to select and utilize the most efficient speech engine as well as customize the media files according to industry, geography, and customer requirements.
The “FirstDraft” document produced by VIQ Solutions (VQS) is known for its exceptional accuracy and can be further refined by the company’s team of professional editors. This editing process is a crucial component of VQS’s unique approach, which allows it to tackle the most complex challenges in the industries it serves. These challenges include post-processing, formatting, and customization of diary drafts, which require a high level of precision and attention to detail. With its highly accurate FirstDrafts and experienced editors, VQS is well-equipped to provide tailored solutions that meet the specific needs of its clients in the complex industries it serves.
What is VQS doing to make a difference?
In addition to automating and analyzing digital content, VQS’ integrated solutions and services reliably generate accurate and actionable data for customers. Through continuous assessment and integration of additional speech engines, VIQ Solutions (VQS) ensures a high-quality user experience for its clients. As the appetite for the digitalization of recorded events grows, technology is needed to handle the amount of evidentiary content generated every day. With VQS’ AI-based speech-to-text technology, transcription accuracy is improved, turnaround times are reduced, and efficiency is enhanced.
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