VIQ Solutions Enters Agreement to Expand Broadcast Media Platform to Create AI-Powered Self-Service Drafts and Improve Collaboration
PHOENIX, Arizona–(BUSINESS WIRE)–VIQ Solutions Inc. (“VIQ”, “VIQ Solutions” or the “Company”) (TSX and Nasdaq: VQS), a global provider of secure digital voice and video capture and transcription technologies, based on the IA, today announced that it has entered into an agreement to expand its end-to-end suite of solutions through the purchase of AI-powered media technology platform, Carbon. The platform will accelerate the creation of indexed and captioned video/audio assets using AI-generated text in a fast and secure self-service platform designed to reduce production costs and time.
Carbon, a cloud-based media and text content workflow platform, was developed to meet broadcast production needs, including administrative controls for organizations with complex workflows and a need high level of security. The platform is fast – rendering text at a quarter of the actual file execution time; easy to use – integrates with multiple audio and video codecs; and flexible – meeting all levels of need, from quality subtitles to highly accurate updating and verbatim in a variety of output formats. Users can call on internal resources or request professional verbatim production by VIQ’s experienced teams. The parent company of one of the world’s largest news and entertainment brands, currently a customer of VIQ Media, is a key customer for the service.
“We are constantly looking for ways to improve and strengthen our media offering and we are delighted to complete the acquisition, which will add the popular Carbon platform to our portfolio,” said Susan Sumner, President and Chief Operating Officer. , VIQ Solutions. “The platform will empower the offering and transform the way journalists work, creating a real-time collaborative process to accelerate complex projects. The ability to connect, automate and manage synchronized and captioned video assets in a secure and discreet manner will create efficiencies. This solution will accelerate revenue in the media segment and provide a foundation to expand this service offering to our core industries worldwide.”
“With over two decades of experience serving journalists, VIQ Media continues to be at the forefront of the industry’s future,” said Elizabeth Pennell, SVP Global Operations, VIQ Solutions. “By creating a self-serving, self-policing environment, the Carbon AI-powered workflow will have a profound impact on the ease and speed of producing and delivering globally broadcast content.”
VIQ leads digital transformation with innovative technologies that deliver faster, more accurate content while securely protecting confidential information. VIQ services reduce costs, decrease turnaround times, increase transcription accuracy, and deliver much-needed digitized innovation to the industry.
For more information on VIQ, please visit viqsolutions.com.
About VIQ Solutions
VIQ Solutions is a global provider of secure, AI-powered digital voice and video capture and transcription technologies. VIQ offers a comprehensive and seamless suite of solutions that delivers intelligent automation, enhanced by human review, to drive the transformation of how content is captured, secured and repurposed into actionable insights. The cyber-secure artificial intelligence technology and services platform is implemented in the most rigid security environments, including the criminal justice, legal, insurance, government, security and security markets. corporate finance, media and transcription service providers, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and achieve digital transformation faster and at lower cost.
Certain statements included in this press release constitute forward-looking statements or forward-looking information (“forward-looking statements”) under applicable securities laws. These forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans regarding the future. Readers are cautioned that reliance on this information may not be appropriate for other purposes. Forward-looking statements generally contain statements containing words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project” or similar words suggesting future results or statements about a prospect. Forward-looking statements contained in this press release include, but are not limited to, the benefits of purchasing Carbon.
Forward-looking statements are based on several factors and assumptions that were used to develop these statements and information, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on the forward-looking statements as VIQ cannot guarantee that such expectations will prove to be correct. In addition to other factors and assumptions that may be identified in this press release, assumptions have been made regarding, among other things, the Company’s objectives and growth plans. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been used.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates which, although considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking statements, including, but not limit, the factors described in more detail in the “Risk Factors” section of the Company’s annual information form dated March 31, 2022 and in the Company’s other documents filed with the Canadian securities regulators and the Securities and Exchange Commission from time to time, available at www.sedar.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of factors that could affect the Company; however, these factors should be carefully considered. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company expressly disclaims any obligation to update or modify any statements containing forward-looking information, or the underlying factors or assumptions, whether as a result of new information, future events or otherwise, except as required by law.