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With the Philippines being the 39th largest economy in the world, the country continues to be a promising prospect for the BPO Industry. In August 2014, the Philippines hit an all-time high for employment in the BPO industry. From 101,000 workers in 2004, the labor force in the industry grew to over 930,000 in just the first quarter of 2014. [7]
Transcription companies primarily serve private law firms, local, state, and federal government agencies and courts, trade associations, meeting planners, and nonprofits. [citation needed] Before 1970, transcription was a difficult job, as secretaries had to write down the speech as they heard it using advanced skills, like shorthand.
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Rev is an American speech-to-text company that provides closed captioning, subtitles, and transcription services. The company, based in San Francisco and Austin , was founded in 2010. The company employs about 89,550 independent contract workers who transcribe audio for a low per-minute rate.
Otter.ai, Inc. is an American transcription software company based in Mountain View, California. The company develops speech to text transcription applications using artificial intelligence and machine learning. Its software, called Otter, shows captions for live speakers, and generates written transcriptions of speech. [1]
Real-time transcription is the general term for transcription by court reporters using real-time text technologies to deliver computer text screens within a few seconds of the words being spoken. Specialist software allows participants in court hearings or depositions to make notes in the text and highlight portions for future reference.
With this large pool of available workers, the Philippines has more than 38 million people that belong to the labor force which is one of the largest in the world almost making it to the top ten notwithstanding a relatively mediocre participation rate of 64.5%. [3] The labor force has consistently grown by an average 2% for the past three years ...
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