Translation & Interpreting Services for Finance

The huge impact that AI is having on many walks of life and most industry sectors is hard to ignore. Many people now have access to vast amounts of information via the smartphones in their pockets. In fact, automated translations have been accessible for a long time; however, this has not replaced the need for human translations.  At AaGlobal, we have provided high-quality and trustworthy interpreting services and translations for over 30 years. With our experience of translation services in the UK, we cannot deny the effect of AI technologies on our industry. So, how do interpreting and translation agencies respond to this era of fast digital progression? Artificial intelligence has long been part of science fiction but has become part of science FACT over recent years. AI has been at the centre of many conversations recently, but this is not a new development by any means.  Artificial intelligence has been suggested in books as far back as the 19th century. Samuel Butler’s novel, ‘Erewhon’, published in 1872, proposes machine consciousness. Movies have long loved the idea of AI. Films like ‘Metropolis’ (1927) and Stanley Kubrick’s masterpiece ‘2001: a Space Odyssey’ (1968), with the frightening HAL 9000, famously depicted autonomous machines. So, this idea of computers with independent thought is not a new one.  It feels like AI has come on leaps and bounds in a very short space of time. Technology, in general, is developing at a faster rate than ever before. However, when we consider the impact on translation agencies, we should remember that Google Translate was launched in 2006. So, people have had access to translation applications for nearly 20 years, and we have seen how automated translations aren’t accurate.  In November 2022, we saw the launch of ChatGPT, which has remained at the forefront of many conversations ever since. Over the last year and a half, many people have discussed whether applications like ChatGPT could take over people’s jobs. Last week (May 2024), ChatGPT launched GPT-4o, which has a wide range of new features, including live translations. Could this have an even more detrimental effect on interpreting and translation services in the UK? We’ve already inferred that previous experience has shown that automated translations are not precise. Despite the development and improvements made with GPT-4o, there is still no replacement for human interpreting. Our Business Development Manager, Chantelle Akdemir, points out, “I’m sure that simple chats like getting directions from the hotel to the beach can be translated easily enough. However, AI cannot deal with the intricate real-world events discussed during business conferences.” We also cannot forget that we are still talking about machines, and humans are a strange breed with strange habits. Numerous tests have been carried out, and the differences between human and AI translation are still worlds apart.  Our language is so finely nuanced; even more than that, every language has its own quirks. “No robot can yet figure out the difference between us Brits having “our tea” or someone making a hot drink’, says Chantelle, “and our language is full of even more nuances like that.” There are many considerations when looking for translations for whatever service you need. Obviously, accuracy is the most important factor. However, there is even more to think about when looking at your options for translation services.  Translations take many forms and require a range of complexity. When we consider technical translations or legal translations, accuracy is imperative.  There is no room for error when translating a training document or technical user manual. In addition to the importance of accuracy, when working on legal or certificate translation services, these often require authorisation or notarising by legal professionals. A professional translator has to swear that they have completed a translation; this provides a level of guarantee unachievable with AI.  Many interpreting and translation agencies, like AaGlobal, work with sensitive clients like social services and legal practices. The work in these industries is often personal and complicated and comes with security concerns. There are many GDPR considerations when using third-party applications like ChatGPT to translate sensitive documents. So, is there a place for artificially generated translations in the industry? It would be unwise to say that there is no possible use for AI translation. As we’ve mentioned, basic translation is absolutely possible with applications like Google Translate or ChatGPT. In fact, we have to acknowledge that people of different languages being able to communicate with each other instantly has to be a good thing, right? Is AI likely to take over and risk the jobs of thousands of linguists around the world? Our opinion is, no, certainly not for the time being. However, let’s look at some real-world examples of technology and its impact on the work environment.  During the industrial revolution in the UK in the 18th century, it was feared that machines would take jobs away from the manual workforce. However, the opposite proved to be the case. As factories were manufacturing more products, they needed more staff to deal with the increased business. The same can be said of interpreting and translation services. As technology increases, companies are finding their operations expanding into foreign markets, meaning more digital content needs translating. We have many clients that require websites to be translated and localised into other languages. Or companies need business manuals or documents translating for foreign offices to enable them to export for example.  It is clear that on a rudimentary level, AI is useful in helping us understand other languages, but that’s not the whole story. It is important to realise that there are practical and security limitations to AI technology in our industry. AI and Chat-GPT can be used to support the work we do. However, AI will not replace the human interaction that proves to be indispensable when dealing with technical translations or sensitive conversations.  Business Development Manager Chantelle Akdemir says, “We are aware of the impact that AI is having on our industry, and we are not ignoring it.  “We will embrace technology that helps our translators, but we will not replace them. AI technology must be used sensibly and thoughtfully to help our translators whilst maintaining our high-quality service commitment to our clients.” Chantelle continues, “Our human touch ensures that our translations are accurate and embrace the cultural differences that make us unique”.  If you need help translating documents or interpreting at your appointments, contact our friendly team today.

As businesses and individuals grow, the world is becoming a smaller, more accessible place. Expanding into new locations and taking in vast landscapes means that translation services are becoming a crucial part of communicating with new clients. From documents and certificates to user manuals and websites, people need to be able to communicate within a global market. With over 7000 officially known languages in the world, it can be tricky to connect and correspond with everyone. AaGlobal has a comprehensive understanding of the importance of languages across a variety of sectors, but why would you need a quality translator? Let’s find out. In its most basic sense, translation is the process of taking words from one language and rewriting them into another. It sounds simple, assuming you speak both of the languages in question, of course. However, taking one text and making it understandable in another language is more complicated than it may first appear.  Languages, like life itself, have undergone centuries of evolution. Words take on different meanings, and new words are added to our lexicon what seems like every day. So this means that it is not always easy to directly translate from one language to another and make sure that the meaning remains the same.  Our planet is becoming a smaller place as we are able to travel easier and faster. With the evolution of emails and video calls, we have the facility to communicate with people on the other side of the world with little or no effort. Whilst this is an incredible feat, it does pose potential issues and pitfalls for companies or individuals if they are not prepared. This is where translation services in the UK can help bridge that language gap.  From manufacturing to hospitality to personal matters, it is difficult to think of an area where translation services wouldn’t provide some benefit. Whilst for some, needing a translation might be a once-in-a-lifetime requirement, for some organisations, translations are required every day.  There are so many instances where changing text from one language to another is not only a requirement but essential. Miscommunication and misunderstanding can cause problems, so it is vital to make sure that text is translated accurately. This means that most sectors and industries require some form of translation at some point. Here are some examples of where translation services have proved indispensable.  Whether a business operates within manufacturing, retail or in the service industry, there are loads of instances where translation services have been required. It is also important to ensure that translations are completed effectively, but most importantly accurately.  If you think about pretty much any product you might buy, the chances are it comes with an instruction manual. That manual will give you instructions and safety warnings for that product in your language and a raft of other languages, too. That means that several translators have been involved in the printing of that manual.  Businesses need manuals translating for a number of reasons, including retail products, machinery/automotive uses or staff training. Technical translations require a further level of skill and accuracy; businesses need to know they can rely on the results.  Public sector organisations are a large user of translation services around the UK. There are a number of people residing in the UK whose first language is not English. Organisations within education, healthcare and social services need to communicate with people from all walks of life.   For example, one of the most obvious instances within the healthcare sector is patient letters. It is a regular occurrence for an NHS Trust to have to send correspondence to a patient. This could be for a number of reasons, including outpatient appointments. It is important for everyone involved that the recipient of that letter understands what has been written. So, providing letters in a patient’s mother tongue means that they get the treatment they need. It also means that the clinic doesn’t have to deal with costly missed appointments.  As we’ve discovered, the world is getting smaller. Now, many people are travelling further, which means they are experiencing more and meeting new people. With that comes people buying property abroad, emigrating and even finding and falling in love with people from other countries.  Having the freedom to travel around the world is incredible, but the word “freedom” is a bit of a misnomer. The ability to live or work in another country comes with certain legalities to overcome. That also means legal documentation. So, individuals find the need for documentation translation services to translate marriage documents, property deeds or immigration papers.  As people around the world are getting closer together, translation services become more of an essential requirement for everyone. From businesses to private individuals, translation services help people understand documents, websites, manuals and more.  In fact, it is highly likely that most of us encounter text daily that has been through a translation service. So, in answer to the question, “Who needs translation services?” the answer is “pretty much everyone”. Whether you have been involved in the translation directly or whether you have read something that has been translated, everyone benefits from accurate translation services.  AaGlobal are language people who have been completing translation services since 1992. With over 14,000 linguists at our fingertips, there is not a corner of the globe we cannot connect you with. We give our clients peace of mind that translations are completed by native speakers with a natural understanding of languages.  Speak to us to find out how we can connect you with a global audience. 

Crown Commercial Service is an executive agency of the Cabinet Office and supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2019/20, CCS helped the public sector to achieve commercial benefits worth over £1bn – supporting world-class public services that offer best value for taxpayers. The Language Services framework provides innovative language services designed to meet the public sector’s core needs. These services include translation, interpretation (including telephone and video interpreting) as well as machine translation. We will be supplying translations, transcriptions, ancillary services, telephone and video interpreting and face to face interpreting including BSL interpreting regionally and nationally for the CCS from both our Worcester and Hull offices and we are really proud to be a part of one of the biggest frameworks in the country. If you would like any further information on this framework agreement, do get in touch with us. CCS Contact:The Commercial Agreement Manager at CCS – John DeveryCommercial Agreement Manager – Language ServicesCrown Commercial ServiceThe Capital, Old Hall Street, Liverpool, L3 9PP