CEO Spence Green's 2022 Look Back and 2023 Look Ahead

by   Spence Green, CEO  ·  Translation
Year in Impact 2022

2022 reminded us how uncertain the world can be, and how quickly that uncertainty renders obsolete the best-laid plans. In startups, resilience and adaptability are rewarded. We would like to thank our translators, customers, and partners for helping us make phenomenal advances toward building multilingually-inclusive global customer experiences.

Working together this past year, our team at LILT achieved:

• Expansion of service for our largest enterprise customers.

• New partnerships with customers who have an impact on our economy and society.

• A complete transformation of production and associated functions, resulting in a nearly 40% improvement in efficiency.

• A complete redesign of our Machine Translation (MT) system to support large models.

In 2023 we expect the best digital enterprises to further prioritize Global Experience (GX) as a key way to personalize customer engagement. According to the State of Global Experience 2022 Report, the majority of companies are projected to increase the number of languages supported and the quality of their global experience content. Half of companies will also be looking to increase the volume of localized content across all touchpoints throughout the global customer journey.

What I'm excited about for 2023:

• Customer satisfaction: we have the right solution at the right price for the market conditions ahead. Currently, our technology is helping customers lower GX costs by up to 60%—and we expect to enable even more efficiency in the coming year.

• Innovation: the impressive capabilities of large NLP models have captured the world's attention. We do basic research here on those technologies! Our research team has many exciting plans for next year.

• Enterprise production excellence: we're leveling up our program management, quality, and talent capabilities.

As more companies create personalized digital customer experiences, LILT is the #1 partner for cutting-edge language technology and research. Today, we are on track to significantly increase all efficiencies and provide high-quality translations at an increasingly affordable price.

Spence Green, CEO at LILT

Want to learn more about LILT's growth in 2022? Look at our Year in Impact Infographic!