NEW YORK, NY/ACCESSWIRE/September 30, 2021/Innodata Inc. (NASDAQ:INOD), a leading data engineering company, today announced that it has begun providing AI data annotation services to another Silicon Valley tech giant. It is the second leading technology company from Silicon Valley that Innodata has brought in as a client for its AI services. Last March, Innodata announced an expanded relationship with a leading social media platform.
In regards to this latest win, Innodata will perform AI model training and optimization across multiple business units for content moderation, intelligent document understanding, computer vision, and health record management. Innodata expects the gain to generate approximately $1.8 million in revenue, including approximately $700,000 in recurring revenue. Additionally, Innodata plans to further expand the relationship over the remainder of the year and into next year.
“We are finding a viable market for our solutions in Silicon Valley, especially when it comes to critical AI use cases where a lot depends on model performance,” said Jack Abuhoff, CEO of Innodata. “Unlike their incumbent vendors, Innodata provides Silicon Valley technology companies with end-to-end solutions that span data sourcing, authoring, and annotation, along with global domain experts who often outperform outsourced workers. and smart platforms that reduce development time and cost.”
Innodata (NASDAQ:INOD) is a leading data engineering company. Prestigious companies around the world turn to Innodata to help them solve their biggest data challenges. By combining advanced machine learning and artificial intelligence (ML/AI) technologies, a global workforce of over 3,500 subject matter experts, and a highly secure infrastructure, we help deliver the promise of data technologies and ubiquitous AI. Visit www.innodata.com to learn more.
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Our actual results could differ materially from the results referred to in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the uncertainty surrounding the COVID-19 pandemic and the effects of the global response to it and the risks discussed in Part I, item 1A. “Risk Factors,” Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and other portions of our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 15, 2021, as updated or modified by our other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements will occur, and you should not place undue reliance on such forward-looking statements. We undertake no obligation to update or review any guidance or other forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by federal securities laws.
THE SOURCE: Innodata inc.
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