LINGO ROCKET BLOG
The 4 Top Business Investments Right Now
President of Katherine Keller International LLC
Our world has become the global village. Ideas are being produced rapidly around the world, and most of them have the potential to change life as we know it for future generations. Already, we've witnessed amazing ideas and technologies that have sahped the way we think, interact and build businesses.
You can focus solely on growing your own empire, or you can plan to invest in some of the best business options in 2017. Investments aren't just about becoming a part of something revolutionary. They can give way to opportunities for success for your business idea as well. If a single idea can promote such a positive change, then a combination of them can do multiple wonders -- not only for the business industry but for people around the world.
Here are some of the top business-investment moves you can make in the next 12 to 18 months.
1. Virtual reality.Entrepreneurship has strong roots in the virtual-reality industry. Despite being around for a few years now, virtual reality gained better momentum in 2016. Experts believe the industry most likely will continue this positive trajectory in the near future -- with projected revenue of roughly $4.6 billion in 2017. Virtual reality still is greatly under research, and this provides ample opportunities for new ideas.
Related: 12 Amazing Uses of Virtual Reality
2. Translation and interpretation.The United States always has been home to multiple cultures and languages. The Census Bureau reports Americans speak more than 350 languages in their homes. On the other hand, businesses have become global. This highly increases the need for both understanding and awareness of more languages. Giants such as Google and Skype have enhanced and expanded their translation capabilities. This allows them to encompass a target market whose customers want a more personalized service. As companies embrace more languages and cultures, employment in areas supporting this industry are projected to increase by 30 percent by 2024.
Related: This New Translation Tech Will Smash the Language Barrier to Doing Business Globally
3. Drone technology.Drone technology is meeting the diverse needs of multiple industries, including infrastructure, mining and transport. The developing drone market is estimated to be valued at $127 billion. If you decide to invest in this sector, consider choosing a publicly traded company. It's worth mentioning that big, public drone companies such as Go Pro recently have experienced difficult times on the stock market. Instead of selecting popular manufacturers, weigh the benefits of putting your dollars in drone technology and components. One such example is Ambarella, which specializes in producing the video chip sets used in drone cameras.
Related: The iPhone of Drones Is Being Built by This Teenager
4. Green energy. Civilians and big-business names both are becoming increasingly conscious about their carbon footprints. Businesses have a much larger role to play as they set example for green practices. If trends in environmentally friendly business methods are any indication, this is a good place for investment.
Wind power, in particular, is gaining momentum. It's inexpensive, and the amount of electricity generated has increased fourfold since 2000. At present, America is the world's top wind-energy producer.
Ever wonder about the difference between a translator and an interpreter? If the answer is yes, you are definitely not alone. “What is the difference between Translation and Interpreting?” - is perhaps one of the most frequently asked questions in the field of language solutions. Translation is rendering text from a source language into a target language while preserving meaning. Translation is always written.
Interpretation, on the other hand, is an oral form of translation. Interpretation enables real-time cross-linguistic communication either face-to-face, in a conference setting or over the phone.
"If I’m selling to you, I speak your language. If I’m buying, dann müssen Sie Deutsch sprechen!" Willy Brandt
The above quote was once said by Willy Brandt, a former German Chancellor, and the quote stands true to this day, especially for companies with global presence. If your company is a part of a global business network, make sure your website and marketing materials are understandable to your global clients and partners.
To prove our point of how important it is to hire a professional company for your translation and localization needs, we put together a list of mistranslated marketing campaigns around the world:
"Translation is that which transforms everything so that nothing changes." Günter Grass
1. The most common target languages for translation are German, French, Spanish, English and Japanese.
2. The Bible is considered to be the most translated text in the world. Pinocchio takes the second place when it comes to being the most translated book.
3. The most translated authors are Agatha Christie, Jules Verne, and William Shakespeare.
4. The majority of the world’s translation community (about 45%) live in United States
5. Some of the most difficult languages in the world include Arabic, Hungarian, Japanese, Finnish, Polish, and Chinese.
The need for translation services goes back centuries. Governments and monarchies have long relied on translators to communicate with fellow diplomats. As technology has advanced, however, more governments and businesses are leaning on automated translation software to tackle the problem of global communication. But how does this new strategy serve those who use it? What is the difference between manual translation and automated translation?
Manual vs Automatic, A Closer Look
There are a few glaring differences between human and automatic translations. First, language still isn’t completely understood. Even the best linguists have trouble deciding the meaning behind what we say. On a functional level, the sentences we string together use the same words over and over again, but it is our intent that changes their meaning. Second, even the best software cannot translate every dialect on the planet.
Manual translation, on the other hand, contains a human element that digs below the surface of simply offering direct translations. Additionally, unintelligible translations from automated software are nowhere to be found. When a translator is fluent in both the language being translated and that which they are translating into, the results are much more satisfactory.
While time will tell the direction of automated translation services, there can be no doubt that the human element has an important role to play in the process now and into the future.