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ELIA (European Language Industry Association) held its annual Networking Days event in Budapest, Hungary, on September 22nd and 23rd.
This year’s event convened under the theme “Opportunity Knocks: Playing the AI Game.”
Discussion groups tackled the following topics:
Contents
Understanding how to Thrive Amidst AI-Driven Disruptions
Takeaway: AI is reshaping the language industry so profoundly that we must urgently reconsider our position within it, including our value proposition and pricing strategy. Are we still in the translation/localization business, or have we moved into a broader realm of “communication”? How do we reflect that shift in our service portfolio?
Success will require a shift in mindset for many in the industry. Now more than ever, LSPs need to embrace change in order to capitalize on potential opportunities. LSPs must be able to identify and understand client’s true priorities in terms of real-world business outcomes.
Mastering the Shift from Selling Services to Selling Solutions
Takeaway: A major reshuffling is already underway among LSPs, with a noticeable shift in focus toward direct relationships with end clients. Rather than focusing on one-off services, LSPs need to develop strategies and products to provide clients with tech-enabled solutions that clients can rely on to handle their language needs and expand their business. Building trusting, ongoing relationships is especially important when supporting clients that lack a dedicated localization team.
Dealing with the Illusion of No-Cost AI Services and Preserving Your Value
Takeaway: Staying technology-agnostic is more critical than ever in this fast-evolving landscape. We need to balance the risks of investment with the potential rewards. Many clients are under pressure to use AI to reduce costs, but many AI solutions fail to meet expectations. LSPs need to recognize which of their services have become obsolete, while balancing the cost and quality of emerging services and solutions. Most importantly, LSPs need to align client expectations with the actual capabilities of AI.
Overall, the event was a reminder that in the evolution of our industry, knowing when to stay the course and when to pivot is the key to growth and longevity.
