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 $1 million of revenue.
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 $9.04 billion in 2021 to $95.08 billion by 2027, a CAGR of 46.9% during the forecast period.1
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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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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