Traditional localization management has passed the point of obsolescence and is now impeding growth. Most business translation is now machine-assisted, thanks to the growth of neural machine translation (NMT) and large language models (LLMs). Fast, cost-effective, multichannel translation will help many businesses become truly multilingual across all touchpoints for the first time. However, ungoverned AI brings risk, and this multiplies with the number of languages. Unprepared businesses will see their quality, speed, and cost metrics deteriorate. This report examines localization market dynamics and how business leaders should uplevel technology, teams, and operational strategy.