APPEN LTD UNSP/ADR - APXYY STOCK NEWS

Appen Limited (ASX:APX) announces the appointment of Saty Bahadur as its new Chief Technology Officer (CTO). With over 25 years of experience, Saty has a proven track record in AI technology development, including significant roles at Upwork and Amazon. His expertise is expected to enhance Appen's AI platform and provide better experiences for clients and contributors alike. CEO Armughan Ahmad expressed enthusiasm for Saty's role in advancing Appen's commitment to delivering ethical AI solutions. Saty holds an M.S. from Clemson University and has numerous patents in the field.

Appen Limited (ASX:APX) has unveiled three innovative products aimed at enhancing generative AI applications: Reinforcement Learning with Human Feedback, Document Intelligence, and Automated NLP Labeling. These solutions address critical challenges in AI, including bias and data extraction. The company's new vision focuses on evolving into an AI platform, tackling issues such as unusable data and data preparation. With over 25 years in AI data solutions and a global team of over 1 million contributors, Appen aims to empower clients to create exceptional AI-driven customer experiences.

Appen has released its State of AI Automotive Report, highlighting the transformative role of AI in the automotive industry. The report emphasizes key benefits such as crash prevention, emissions reduction, and improved traffic conditions. Notably, 80% of respondents express confidence in autonomous vehicles, with 89% of AI practitioners agreeing that they represent the future of the industry. The research underscores the necessity of human oversight for AI model accuracy, with 97% of respondents recognizing its importance. Conducted with The Harris Poll, the study surveyed over 500 global participants, reinforcing Appen's position as a leader in AI data.

Appen Limited (ASX:APX) has appointed Armughan Ahmad as CEO and President, starting immediately. With over 25 years of experience in scaling technology businesses, Ahmad aims to enhance Appen's role in the rapidly growing enterprise AI market. Appen generated over $440 million in revenue in FY21 and serves major clients including Microsoft and Google. Ahmad emphasizes the company's responsibility in delivering ethical AI and believes that Appen is poised for significant growth.

Appen Limited (ASX: APX) has appointed Armughan Ahmad as its new CEO and President, effective 30 January 2023. Ahmad, who is based out of North America, brings over 25 years of experience from notable companies including KPMG, Dell Technologies, and Hewlett Packard. The transition follows the tenure of Mark Brayan, who will remain until 28 February 2023 to ensure continuity. The board is optimistic about Ahmad's leadership in scaling Appen's growth in the AI sector.

Appen Limited (ASX:APX) released its eighth annual State of AI and Machine Learning report, highlighting significant challenges in sourcing quality data for AI development.

Key findings indicate 51% of leaders recognize data accuracy as crucial, while 42% face difficulties in data sourcing.

Moreover, 80% stress the importance of data diversity, and 93% view responsible AI as foundational to projects. The research involved 504 interviews across the US, UK, Ireland, and Germany.

Appen Limited has announced a strategic investment in Mindtech, a company specializing in synthetic data for AI computer vision models. This partnership aims to enhance data offerings with a combination of real-world and synthetic training data, crucial for AI development. Mindtech’s Chameleon platform allows customers to create synthetic data assets efficiently. The synthetic data market is projected to reach $1.15B by 2027, growing at a 48% CAGR. In addition, Appen reported a revenue growth to $447M in its recent earnings release.

Appen Limited (ASX:APX) has entered into a definitive agreement to acquire Quadrant, a leader in mobile location and Point-of-Interest (POI) data. The acquisition entails an upfront cash payment of US$25 million and up to US$20 million in Appen shares based on revenue milestones. This strategic move positions Appen to enhance its capabilities in mobile location services and leverage Quadrant's Geolancer platform, which offers verified POI data through a global workforce. The deal is expected to expand Appen's market reach significantly.