23
Nov
2023
We recently announced co-leading the pre-Series A round in Intella, the regional innovator in Automatic Speech Recognition (ASR) and Natural Language Processing (NLP), alongside Hala Ventures.
Intella excels in transcribing multi-dialect Arabic speeches through computational linguistics, which is expected to benefit various sectors including call centers, banks, telecom operators, and ed-tech, empowering businesses with the tools to harness the untapped potential of voice data, revolutionizing the way they communicate and derive value from their information resources.
Automatic Speech Recognition (ASR) and Natural Language Processing (NLP) are subsets of Artificial Intelligence (AI) that harnesses linguistic algorithms to convert spoken words into text, enabling computers to understand human language in both text and voice forms as the technology extends beyond mere text interpretation, delving into capturing the complete meaning, including the speaker or writer's intentions and sentiments.
In the era of the fourth industrial revolution, the Middle East stands at a crossroads, compelled to embrace AI and cutting-edge technologies or risk falling behind. By 2030, the region is forecasted to capture 2% of the worldwide AI benefits, amounting to approximately USD 320 billion. Saudi Arabia is poised to take the lead, contributing over USD 135.2 billiona, equivalent to 12.4% of its GDP.
On the global scale, the NLP market size is estimated to reach USD 439.85 billion by 2030. Within the domain of enterprise solutions, ASR and NLP play an increasingly pivotal role, streamlining business operations, elevating employee productivity, and simplifying critical tasks.
Building on ASR and NLP's pivotal role in enterprise solutions, it is vital to see how Intella aligns with the AI market ecosystem. The ecosystem has three main application-based segments including horizontal platforms that empower end-users to utilize AI and machine learning across diverse use cases, with companies like OpenAI showcasing their versatile ChatGPT. Additionally, vertical applications are tailored for specific industries, even when AI is not their primary focus, and autonomous machines use AI to enhance various devices. In this context, Intella specializes in horizontal platforms, with a specific focus on natural language technology.
Intella stands out against competitors in the region for its highly accurate Arabic speech-to-text transcription, which can process more than twenty-five dialects. Their unique position in the market promises substantial growth potential, reinforced by strategic collaborations with industry leaders like Huawei and Microsoft. With a secured MISA license and a relocation to Saudi Arabia, the company is primed for expansion. Proactive local talent acquisition and training, coupled with support from prominent venture capitalists, further bolster their promising trajectory.
Intella's pioneering solutions are well-regarded for their exceptional ability to transform voice data into valuable and searchable information, all with a strong emphasis on accuracy. This conversion of spoken content into written and searchable formats not only enables us to extract meaningful insights from previously unstructured data but also streamlines communication processes. The result is significant operational cost savings and enhanced accessibility to critical information.
Led by Nour Taher CEO, who excels in strategy and business development, Intella's team is a diverse blend of professionals with experience in international corporations and fast-growing start-ups. Complementing Nour's leadership, CTO Omar Mansour plays a pivotal role in shaping Intella's technology. With his expertise specializing in data science and machine learning, he drives the customization of technology, particularly in adapting language models to unique contexts, further propelling Intella's rapid growth in Saudi Arabia.
Accelerating the trend of AI, the significant cross-sectoral partnership signed during the Global AI Summit - between Saudi Data and Artificial Intelligence Authority (SDAIA), the Saudi Company for Artificial Intelligence (SCAI), and Saudi Arabia's national airline (Saudia) - demonstrates the Kingdom's united commitment to advancing AI solutions, and its mission to become the regional AI leader.
Within this context, Intella's distinctive technology, adept team, strategic partnerships, and commitment to nurturing local talent converge to present a highly appealing investment opportunity with promising growth prospects. The company's early-stage growth phase holds significant promise for founders and entrepreneurs, with Wa'ed Ventures taking a leading role in supporting its transformative trajectory.