Israeli tech company awarded for 'best speech to text' AI

Verbit's AI-driven technology can turn any audio information — Be it lectures, podcasts, or television shows — Into a text transcript in seconds.

 Verbit staff. (photo credit: ERIC SULTAN)
Verbit staff.
(photo credit: ERIC SULTAN)

Israeli transcription company Verbit was awarded the “Best Speech to Text Solution Award” at the 5th AI Breakthrough Award competition, the company announced on Thursday.

“Verbit’s unique hybrid use of artificial and human intelligence represents a breakthrough platform that addresses these rates, allowing users to achieve increased accuracy and ultimately create inclusive environments, enable effective communication, and increase engagement, '' James Johnson, managing director of AI Breakthrough, said. “We are thrilled to award Verbit with our ‘Best Text to Speech Solution’ for 2022.”

Verbit's technology, which combines machine learning, natural language processing and tens of thousands of professional transcribers, can turn any audio information — Be it lectures, podcasts, or television shows — Into a text transcript in seconds.

Transcription technology 

Tom Livneh, CEO and Founder of Verbit was encouraged to create a caption service that depended on technology rather than hand-operated work. After recognizing the opportunity this field had to benefit several different audiences, including artificial intelligence, Livneh decided to move forward with his company. 

“Right from the start, we recognized a huge shortage of good enough transcript capabilities and knew that if we developed strong enough artificial intelligence technology, we could win the game, and we did," said Livneh. "This award is proof that we are on the right path. Over the past year, we have acquired several American and European transcription companies that have been around for decades and have merged each one’s unique specialization with our artificial intelligence solution and so far, it would wonderfully.”

 Verbit CEO Tom Livne (credit: SHLOMI YOSEF) Verbit CEO Tom Livne (credit: SHLOMI YOSEF)

“Verbit’s unique hybrid use of artificial and human intelligence represents a breakthrough platform that addresses these rates, allowing users to achieve increased accuracy and ultimately create inclusive environments, enable effective communication, and increase engagement."

Tom Livneh

AI Breakthrough 

In 2021, Verbit was awarded the “LegalTech Breakthrough Award”. This prize marks the second time that the Israeli startup company has been a beneficiary of one of the most prestigious AI Breakthrough Awards programs. 

The AI Breakthrough competition recognizes innovation and accomplishments in a variety of fields connected to artificial intelligence and machine learning.