Innodata Selected by Leading Cloud Platform to Provide Large-Scale Data Collection for AI Computer Vision Initiative
Innodata Inc (NASDAQ:INOD), a data engineering firm, has been selected by a leading cloud platform to provide extensive data collection for a new AI computer vision project. The contract is expected to generate around $1 million in revenue. CEO Jack Abuhoff highlighted that the initiative focuses on large-scale, high-quality, and diverse training data, which is crucial for effective AI performance. The global computer vision AI market is projected to grow significantly, from $9.04 billion in 2021 to $95.08 billion by 2027, indicating strong industry growth prospects.
- Innodata secures a contract with a major cloud platform for AI data collection.
- Anticipated revenue from the contract is approximately $1 million.
- The global computer vision AI market is expected to grow from $9.04 billion in 2021 to $95.08 billion by 2027.
- None.
NEW YORK, NY / ACCESSWIRE / January 17, 2023 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, today announced it has been selected by a leading cloud infrastructure and platform services company to provide large-scale data collection for a new AI computer vision initiative.
"In this latest win, Innodata will be responsible for collecting training data that is large-scale, high-quality and diverse," said Jack Abuhoff, Innodata Chief Executive Officer. "These are three key criteria for ensuring that AI performs well with real-world data."
Innodata anticipates the win will yield approximately
Computer vision is a field of artificial intelligence that enables machines to take actions or make recommendations based on analysis of often real-time digital images and video captured by on-device cameras and sensors. AI algorithms, trained with the right data, can analyze thousands of products or processes in seconds, noticing barely perceptible defects, surpassing capabilities of humans. Computer vision can be applied to a large number of industries, ranging from software, energy, medicine, utilities, and automotive.
A recent research study estimated that the global computer vision AI market is expected to grow from
Learn more about Innodata's AI data collection services here and stay up to date on recent Innodata news here.
About Innodata
Innodata (NASDAQ:INOD) is a global data engineering company delivering the promise of AI to many of the world's most prestigious companies. We provide AI-enabled software platforms and managed services for AI data collection/annotation, AI digital transformation, and industry-specific business processes. Our low-code Innodata AI technology platform is at the core of our offerings. In every relationship, we honor our 30+ year legacy delivering the highest quality data and outstanding service to our customers. Visit www.innodata.com to learn more.
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| Company Contact: |
| Marcia Novero mnovero@innodata.com 201-371-8015 |
1 The Insight Partners, "AI in Computer Vision Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component (Hardware and Software) and End-User (Automotive, Sports and Entertainment, Robotics and Machine Vision, Security and Surveillance, Government and Defense, and Others)", 2022. See: https://finance.yahoo.com/news/95-bn-ai-computer-vision-124700729.html
SOURCE: Innodata Inc.
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