Deepgram is raising its Series C round at a $1.3 billion valuation.
For Media & Entertainment, improved ASR technology allows for more efficient and accurate subtitling, transcription of audio content, and automated metadata generation. This can reduce production costs, improve content accessibility, and enhance audience engagement by facilitating easier content discovery and interaction, leading to revenue generation through wider distribution and consumption.
Operational impact: Improved speech-to-text technology directly translates to greater efficiency in various business processes, including customer service automation (e.g., chatbots and call transcription), content analysis, and data mining. Enhanced accuracy reduces the need for manual correction, saving time and resources. Furthermore, businesses can leverage these advances to generate new revenue streams, such as creating more accessible content or improving data analytics.