Innodata Provides Second Silicon Valley Tech Giant AI Data Annotation Across Multiple Business Segments

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.”

Learn more about Innodata’s AI data annotation services here and stay up to date with the latest news from Innodata here.

About Innodata

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.

CONTACT:

Jessie Schnurr
Innodata inc.
jschnurr@innodata.com
201-371-8189

Forward-looking statements

This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Words such as “plan”, “believe”, “expect”, “may”, “continue”, “could”, “intend”, “may”, “should”, “will” , “anticipate”, “indicate”, “expect”, “predict”, “likely”, “targets”, “estimate”, “plan”, “potential” or their negative forms and other similar expressions generally identify forward-looking statements , which are only valid as of the date hereof.

These forward-looking statements are based on management’s current expectations, assumptions and estimates and are subject to a number of risks and uncertainties, including, without limitation, the expected or potential effects of the novel coronavirus pandemic. (COVID-19) and the responses of governments, the general world population, our customers and related society; that contracts can be terminated by customers; planned or committed volumes of work may not materialize; the digital data solutions industry’s continued reliance on project-based work and the primarily on-demand nature of such contracts and the ability of such customers to scale back, delay or cancel projects; the likelihood of continued development of the markets, particularly new and emerging markets, that our services support; the continued concentration of revenues from the Digital Data Solutions segment on a limited number of customers; the potential inability to replace completed, canceled or reduced projects; our dependence on content providers in our Agility segment; difficulty in integrating and deriving synergies from acquisitions, joint ventures and strategic investments; potential undiscovered liabilities of companies and businesses that we may acquire; potential impairment in the carrying value of goodwill and other acquired intangible assets of companies and businesses we acquire; changes to our business or our growth strategy; a continued slowdown or depressed market conditions, whether due to the COVID-19 pandemic or otherwise; changes in external market factors; the ability and willingness of our customers and potential customers to execute business plans that give rise to requirements for our services; changes to our business or our growth strategy; the emergence of new competitors or the growth of existing competitors; various other competitive and technological factors; our use of and reliance on information technology systems, including potential security breaches, cyberattacks, breaches of privacy or data breaches that result in the unauthorized disclosure of information about consumers, customers, employees or the Company, or service interruptions; and other risks and uncertainties noted from time to time in our filings with the Securities and Exchange Commission.

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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