#NUVO #AI Communis #translation industry

NUVO's Strategic Move into the Translation Industry

In a significant move to bolster its presence in the translation and interpretation sector, NUVO (formerly AI Communis) has announced its plans for major expansions. Based in Tokyo and led by CEO Nobuhiko Suzuki, the company is set to acquire three firms that will enhance its capabilities in serving various sectors including government, finance, and law.

By April 2024, NUVO will establish the Sapporo Conference Records Center, targeting public administrators and legal translations. Furthermore, it aims to launch Clockwork House, focusing on financial translation by November 2024, and Access One, which specializes in interpretation and subtitling, by March 2025. These acquisitions will integrate long-standing expertise in the industry and position NUVO among the top 10 revenue generators in Japan's translation market.

NUVO's strong foundation in artificial intelligence (AI), boasting over 1.1 million global users and approximately 3 million hours of transcribed audio, will complement the acquired firms' professional prowess. By merging its advanced AI technologies—such as speech recognition and natural language processing—with these established companies, NUVO seeks to provide high-quality multilingual solutions across demanding fields like media, finance, investor relations, and legal services.

The Japanese translation market currently features over 2,000 companies competing in a fragmented space, resulting in challenges for individual businesses in efficiently adopting cutting-edge AI technologies. NUVO’s strategy focuses on creating a unified operational base through these acquisitions, with concrete results including:

• - Gaining scale benefits through the integration of dispersed business infrastructures
• - Reducing operational time by 50% and improving profit margins by 20% through AI-driven efficiency gains
• - Enhancing the accuracy of AI models and accelerating product development by consolidating data across the acquired firms.

Moreover, NUVO emphasizes its philosophy of placing