VIQ Solutions ("VIQ," "VIQ Solutions" or the "Company") (TSX:
VQS), a global provider of secure, AI-driven, digital voice and
video capture technology and transcription, announces the launch of
NetScribe™ Advanced Formatting, a cost-effective solution for the
documentation needs of courts, deposition companies, legal firms,
and law enforcement.
VIQ has longstanding relationships with major courts and law
enforcement agencies worldwide, and has extended over US$17.0M in
annual revenue with its top customers, many of whom are utilizing
NetScribe™ as they expand their relationship with VIQ. During Q124
alone, VIQ added over 79 new logos and total NetScribe™ minutes
have increased, year over year, by 30%. Our customers recognize
that there will not be a direct pivot from traditional
service/labor-based documentation creation to AI/STT-generated
text. The evolution will be the adaptation of hybrid solutions that
will broaden access to documentation where it had been
cost-prohibitive in the past and utilize full editing capabilities
with the human-in-the-loop on the most essential and critical
evidentiary requirements.
NetScribe™ Advanced Formatting offers new capabilities that
automate the production of documents with complex requirements,
such as exact number of lines per page, custom cover and
certification pages, automated indexes, and witness movements, all
within the NetScribe™ platform. When combining these innovations
with NetScribe’s hallmark workflow automation and speech-to-text
with post-processing, multi-speaker detection and Domain-Specific
Language Models (DSLMs), the NetScribe™ platform offers a powerful
end-to-end solution to produce highly usable documentation, both as
FirstDraft™ and verbatim documents. As documents are corrected by a
human, VIQ’s DSLMs continuously learn about the documentation
nuances (such as accents, terminology, formatting of punctuation
and words, disfluencies, diarization characteristics, and more) of
a specific vertical, geography, or customer, which is then used to
produce FirstDraft™ documents that are highly accurate. With the
addition of NetScribe™ Advanced Formatting, both the structure and
the content of a document become fully automated with a highly
accurate and usable output.
“We are excited to introduce these enhancements to our
solutions,” said Susan Sumner, President and Chief Operating
Officer at VIQ Solutions. “We are committed to using our core
technologies to solve the problem that is at crisis levels in some
jurisdictions. We also believe that access to court transcripts and
depositions should not be limited to those who can afford a full
transcript. We believe that the availability of a usable draft
document will help to give broader access to all.”
NetScribe™ Advanced Formatting is the latest feature that
deepens our commitment to providing courts, deposition companies,
legal firms, and law enforcement with the ability to introduce
advanced technologies with confidence. We believe that NetScribe™
Advanced Formatting provides users with an easy way to introduce
cutting-edge solutions without major disruptions, while providing
significant cost savings.
About VIQ
VIQ Solutions is a global provider of secure, AI-driven, digital
voice and video capture technology and transcription services. VIQ
offers a seamless, comprehensive solution suite that delivers
intelligent automation, enhanced with human review, to drive
transformation in the way content is captured, secured, and
repurposed into actionable information. The cyber-secure, AI
technology and services platform are implemented in the most rigid
security environments including criminal justice, legal, insurance,
government, corporate finance, media, and transcription service
provider markets, enabling them to improve the quality and
accessibility of evidence, to easily identify predictive insights
and to achieve digital transformation faster and at a lower
cost.
For more information about VIQ, please visit
viqsolutions.com.
Forward-looking Statements
Certain statements included in this news release constitute
forward-looking statements or forward-looking information
(“forward-looking statements”) under applicable securities
legislation. Such forward-looking statements are provided for the
purpose of providing information about management's current
expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate
for other purposes.
Forward-looking statements typically contain statements with
words such as “anticipate”, “believe”, “expect”, “plan”, “intend”,
“estimate”, “propose”, “project” or similar words suggesting future
outcomes or statements regarding an outlook. Forward-looking
statements in this news release include, but are not limited to,
statements relating to the capability of NetScribe™ Advanced
Formatting and VIQ's expectations regarding the adoption of
NetScribe™ Advanced Formatting. Forward-looking statements are
based on several factors and assumptions which have been used to
develop such statements and information, but which may prove to be
incorrect. Although VIQ believes that the expectations reflected in
such forward-looking statements are reasonable, undue reliance
should not be placed on forward-looking statements because VIQ can
give no assurance that such expectations will prove to be correct.
In addition to other factors and assumptions which may be
identified in this news release, assumptions have been made
regarding, among other things, the Company’s business plans and
goals. 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 that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to the factors described in greater detail in the
“Risk Factors” section of the Company’s annual information form for
the year ended December 31, 2023 and in the Company’s other
materials filed with the Canadian securities regulatory authorities
from time to time, available at www.sedarplus.ca. These factors are
not intended to represent a complete list of the factors that could
affect the Company; however, these factors should be considered
carefully. There can be no assurance that such estimates and
assumptions will prove to be correct. The forward-looking
statements contained in this news release are made as of the date
of this news release, and the Company expressly disclaims any
obligation to update or alter any forward-looking statements, or
the factors or assumptions underlying them, whether as a result of
new information, future events or otherwise, except as required by
law.
No securities regulatory authority has either approved or
disapproved of the contents of this press release. This press
release is for information purposes only and shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240626236700/en/
Audrey Liu Corporate Controller VIQ Solutions Inc. Phone: (800)
263-9947
VIQ Solutions (NASDAQ:VQS)
過去 株価チャート
から 5 2024 まで 6 2024
VIQ Solutions (NASDAQ:VQS)
過去 株価チャート
から 6 2023 まで 6 2024
