AssemblyAI develops APIs that allow developers to transcribe, understand, and gain insights from audio data using state-of-the-art speech recognition and natural language processing models. Its core product is a unified API platform that makes it easy to build voice-enabled applications by leveraging AI capabilities like automatic speech recognition, text summarization, content moderation, and topic detection. The company primarily serves technology companies and consumer apps that need to analyze large volumes of audio content.

AssemblyAI was founded in 2017 by Dylan Fox, an experienced software engineer who previously worked on the machine learning team at Cisco. Seeing the potential of rapidly advancing speech AI, Fox was inspired to create a developer-friendly platform to democratize access to cutting-edge models. To stay at the forefront, AssemblyAI heavily invests in AI research, model training infrastructure, and a growing technical team.

Looking ahead, AssemblyAI aims to solidify its position as the leading audio AI platform by expanding its suite of API capabilities and voice product offerings. The company has strong momentum after raising $58M in funding during 2022 while tripling its revenue. AssemblyAI provides the opportunity to work on innovative AI/ML technologies that are seeing rapidly growing demand from businesses. That said, a key challenge AssemblyAI faces is the significant computing resources required to train large language models and speech AI systems in-house - costs which are much less burdensome for larger potential competitors such as OpenAI and Google.