Data provider Statista forecasts that the global market for AI-based translation will grow from about $5bn in 2023 to about $12bn by 2030.
One company hoping to cash in is Germany's DeepL, which has been named as winner in the IT and cyber security category of the FT's 2023 Tech Champions survey.
By 2025, 25 per cent of human translators' work will consist of reviewing and editing machine-translated text, according to a study published last year by technology research company Gartner.
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