yes i was also very surprised how sensitive demand was for language translation. Europe was the hardest hit but also IBM revenue was down. Removing $5m from expenses is a good start (16% reduction in production costs in Q4). But they still only guide We expect modest revenue growth and to be both cashflow and EBITDA positive for the fiscal year 2024.
Do you have any thoughts on Chat GP and the like, If its beneficial for the company or is it going to disrupt it?
This was part of the response i received from the company
"We do not see Chat GPT as a competitive threat, rather we see it as an opportunity, particularly given our target customers require translation of often complex technical corporate documents"
"The two areas where we see Straker benefiting is in the ability to use AI to reduce the need for project managers (for example AI could pick more accurate human translators based on our data sets) and the need for customers to not have a validation step in the translation process, something we already push for customers. With more than 15 years of data our competitors lack when it comes to training their AI engines, we have a clear advantage."
i still feel like it could be a major disruption. Which has put me off buying at the moment.
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