Find the nuggets in real time: “Mediatranslator” for financial markets

EML European Media Laboratory (Germany) and Lexifone (Israel) will develop the first real-time video translation system for the financial market in a two years speech technology project.

Heidelberg, (PresseBox) - Today´s world is a global marketplace, driven by the multimedia internet. Especially in the financial sector, broadcasts of financial news include very valuable information and need to be available to financial analysts with very short time delay. Financial news frequently includes audio data from mixed sources and they are often available in various languages. Therefore, there is a growing demand for on-the-fly media transcription and translation. Until now there has been no real-time video translation available.

The Gap will be closed


Thanks to the new EUREKA project “Mediatranslator”, this gap will be closed in the near future: The speech technology companies EML European Media Laboratory and Lexifone will develop a first-of-kind real-time video translator that is linguistically optimized for the financial sector. The project is financially supported by the German Federal Ministry for Economic Affairs and Energy (BMWi) and the Israeli Ministry of Economy and Industry. “Mediatranslator” is a project within the framework of the EUREKA research initiative.

Neural networks and Machine learning for speech recognition and translation

“With neural networks and machine learning tools we will integrate transcription and translation technologies for a new product portfolio”, says Dr. Siegfried Kunzmann, R & D manager at EML. “The project includes new technologies by tightly combining speech transcription with translation, and a language adaptation to the financial sector”, adds Dr. Ike Sagie, CTO of Lexifone. At the end of the project in March 2017, the partners plan to present a ready-to-sell-product that will help
financial analysts to find the nuggets in the daily stream of media data using their smartphones.

Both companies hold a distinguished record in speech technologies. EML develops speech recognition technologies to convert speech-to-text for speech & media analytics, media & lecture transcription, messaging & search, automotive and on-board, voice control and transcription solutions. Lexifone offers automatic voice translation of telephone conversations to connect those who do not speak the same language. Lexifone supports 15 languages, 24 dialects and calls to over 100 countries. Since 2015, EML and Lexifone have been strategic partners. In the future EML and Lexifone will use the “Mediatranslator” tools to expand their solution portfolio to further business sectors.



For further information, please contact:

Dr. Peter Saueressig
Public Relations
EML European Media Laboratory GmbH
Schloss-Wolfsbrunnenweg 35
D-69118 Heidelberg
Phone: +49-6221-533245
E-mail: saueressig@eml.org
Twitter: @EMLVoice

EML European Media Laboratory GmbH (EML), Heidelberg / Germany
EML European Media Laboratory is a private IT enterprise established by Klaus Tschira, one of the founders of SAP. EML develops speech recognition technologies which automatically convert speech-to-text for speech and media analytics, media and lecture transcription, voice messaging, voice search, automotive and on-board, voice control and transcription solutions.
www.eml.org

Lexifone Communication Systems Ltd, Haifa / Israel

Lexifone is the world's only privately-held automated technology for in-call translation. Lexifone translates outgoing and incoming calls in 15 different languages on any landline or mobile phone. Both sides of the call simply speak their language and Lexifone will translate both ends of the conversation in real time. Lexifone also supports a 3rd party developer SDK. The company is headquartered in Haifa, Israel with a sales office in Rochester, NY, USA.
www.lexifone.net

EUREKA
EUREKA is a European research initiative with the goal of motivating cross-border co-operation between industry and research institutions in the area of technological research and development. The initiative aims at concentrating the existing potential of specialists, know-how, research facilities, and financial resources in Europe in order to make more efficient use of all these elements. In this way, EUREKA contributes to the competitiveness of European industry on the world marketplace.
http://www.eurekanetwork.org/

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EML European Media Laboratory GmbH

EML European Media Laboratory (Germany) is a private IT enterprise established by Klaus Tschira, one of the founders of SAP. EML develops speech recognition technologies which automatically convert speech-to-text for speech and media analytics, media and lecture transcription, voice messaging, voice search, automotive and on-board, voice control and transcription solutions.
www.eml.org

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