Innodata Providing 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 it has begun providing AI data annotation services to another Silicon Valley technology giant. This represents the second prominent Silicon Valley tech company Innodata has brought on as a customer for its AI services. Last March, Innodata announced an expanded relationship with a leading social media platform.

In terms of this latest win, Innodata will be performing AI model training and optimization across numerous business units for content moderation, intelligent document understanding, computer vision, and health records management. Innodata anticipates the win will yield approximately $1.8 million of revenue, of which it characterizes approximately $700 thousand as recurring revenue. In addition, Innodata expects to expand the relationship further over the remainder of the year and next year.

"We're finding a viable market for our solutions in Silicon Valley, especially when it comes to mission-critical AI use cases where a lot is riding on model performance," said Jack Abuhoff, Innodata Chief Executive Officer. "Unlike their incumbent providers, Innodata provides Silicon Valley tech companies with end-to-end solutions that span data sourcing, creation, and annotation, as well as global domain experts who often out-perform crowdsourced workers and intelligent platforms that reduce development time and cost."

Learn more about Innodata's AI data annotation services here and stay up to date on recent Innodata news here.

About Innodata

Innodata (NASDAQ:INOD) is a leading data engineering company. Prestigious companies across the globe turn to Innodata for help with 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 high-security infrastructure, we're helping usher in the promise of digital data and ubiquitous AI. Visit www.innodata.com to learn more.

CONTACT:

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

Forward-Looking Statements

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Our actual results could differ materially from the results referred to in forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, uncertainty around the COVID-19 pandemic and the effects of the global response thereto 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 parts of our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 15, 2021, as updated or amended 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 these 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 may be required by the Federal securities laws.

SOURCE: Innodata Inc.



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