Israeli startup aiOla recently won the “Best Speech to Text Solution” award at the 7th annual AI Breakthrough Awards that recognizes the world’s most innovative achievements in the artificial intelligence industry.

The Herzliya-based company beat more than 5,000 nominees from over 20 countries to clinch the prestigious prize. Among AI Breakthrough’s previous winners are OpenAI and Deloitte.

The company’s voice-capture technology combines natural language processing (NLP), which understands human language as it’s spoken and written, with automatic speech recognition, which uses AI to process human speech into readable text. 

Thanks to this advanced model, aiOla’s technology can recognize more than 100 languages, including slang and jargon, even with accents and background noise. 

The product is intended to help automate business workflows while reducing operational costs and increasing production in a wide range of industries from food to finance. 

The startup’s cofounder and CEO Amir Haramaty said the company is “very grateful for the recognition of the impact aiOla’s solution brings to enterprises.”

“AI speech models are falling short in enterprise settings because they can’t understand industry jargon. aiOla’s solution can adapt digital and paper processes into AI speech-driven systems that allow businesses to finally tap into unspoken data, while enhancing overall workflow efficiency.”