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.
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