Innodata Appoints Digital Transformation Veteran Ed Funaro to Lead New Applied AI Practice
Innodata Inc. (NASDAQ:INOD) has launched a new Applied AI practice led by Ed Funaro, who brings 35 years of experience in technology leadership, including his role as Chief Revenue Officer at Cloud Sherpas. The practice aims to assist companies in insurance, healthcare, and finance with digital transformation through AI, leveraging a new customer-facing SaaS platform expected to launch in H1 2022. This initiative aligns with Innodata's goal to enhance operational efficiency and data-driven decision-making for its clients.
- Ed Funaro's leadership is expected to bring valuable experience to accelerate growth.
- The launch of the Applied AI practice positions Innodata to capture market opportunities in AI-driven digital transformation.
- Dependence on emerging markets and clients could pose risks to revenue continuity.
- Forward-looking statements indicate potential uncertainties related to project-based revenue reliance.
NEW YORK, NY / ACCESSWIRE / January 18, 2022 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, today announced that it has launched an Applied AI practice, led by Ed Funaro, who joined Innodata last month as a Vice President. Funaro has 35 years' experience leading technology practices at several of the world's leading consulting companies and was Chief Revenue Officer at Cloud Sherpas, a cloud technology company, that he helped grow from a start-up to
Innodata's Applied AI practice will help companies in multiple markets - including insurance, healthcare, and financial services - drive digital transformation with AI. The core of the practice will be Innodata's new customer-facing SaaS platform for training, deploying, and productionizing AI models, which it anticipates to be generally available in the first half of 2022. Innodata is building the platform on its proprietary horizontal AI technology, which has been developed over the past three years and applied at scale in Innodata's digital data production centers.
Rahul Singhal, Chief Product Officer at Innodata, stated, "Our Applied AI practice will help customers drive digital transformation by turning burdensome, expensive, document-intensive manual tasks into AI-augmented, digital-first workflows that save time, drive efficiency, and deliver deeper analytical insights for better decision-making.
"We are excited to have brought on Ed to lead this charge. Ed has an impressive track record of growing companies and delivering customer success through digital transformation," Singhal continued.
Funaro's leadership experience prior to joining Innodata includes Principal Director at Accenture, leading Accenture North America's
"I am extremely excited to join Innodata at this exciting juncture in its history," said Funaro. "I've been watching Innodata's technology and strategy unfold over the past year or so, and I think it is perfectly positioned to deliver value to customers who seek to innovate through AI. I am confident that I can help Innodata grow revenue and market share in this rapidly growing AI market."
Learn more about Innodata's intelligent solutions 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.
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 "project," "believe," "expect," "can," "continue," "could," "intend," "may," "should," "will," "anticipate," "indicate," "forecast," "predict," "likely," "goals," "estimate," "plan," "potential," or the negatives thereof and other similar expressions generally identify forward-looking statements, which speak only 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 (COVID-19) pandemic and the responses of governments, the general global population, our customers, and the Company thereto; that contracts may be terminated by clients; projected or committed volumes of work may not materialize; continuing Digital Data Solutions segment reliance on project-based work and the primarily at-will nature of such contracts and the ability of these clients to reduce, delay or cancel projects; the likelihood of continued development of the markets, particularly new and emerging markets, that our services support; continuing Digital Data Solutions segment revenue concentration in a limited number of clients; potential inability to replace projects that are completed, canceled or reduced; our dependency on content providers in our Agility segment; difficulty in integrating and deriving synergies from acquisitions, joint venture and strategic investments; potential undiscovered liabilities of companies and businesses that we may acquire; potential impairment of the carrying value of goodwill and other acquired intangible assets of companies and businesses that we acquire; changes in our business or growth strategy; a continued downturn in or depressed market conditions, whether as a result of the COVID-19 pandemic or otherwise; changes in external market factors; the ability and willingness of our clients and prospective clients to execute business plans that give rise to requirements for our services; changes in our business or growth strategy; the emergence of new or growth in existing competitors; various other competitive and technological factors; our use of and reliance on information technology systems, including potential security breaches, cyber-attacks, privacy breaches or data breaches that result in the unauthorized disclosure of consumer, client, employee or Company information, or service interruptions; and other risks and uncertainties indicated 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 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.
Company Contact:
Jessie Schnurr
jschnurr@innodata.com
201-371-8189
SOURCE: Innodata Inc.
View source version on accesswire.com:
https://www.accesswire.com/682968/Innodata-Appoints-Digital-Transformation-Veteran-Ed-Funaro-to-Lead-New-Applied-AI-Practice
FAQ
What is Innodata's new Applied AI practice?
Who is leading Innodata's Applied AI practice?
What impact is expected from the launch of the Applied AI practice on Innodata?
When will Innodata's AI SaaS platform be available?
