NEW YORK, NY / ACCESSWIRE / November 2, 2021 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, today announced general availability of its Innodata Data Annotation Platform, a web-based, SaaS platform designed to reduce the cost of AI/ML projects while enabling users to develop more accurate models.

While the data annotation tools market is expected to cross $7 billion by 2027¹, data scientists often struggle to find the right combinations of tools for efficiently creating high-quality training data.

"At Innodata, we constantly listen to real-world pain points for inspiration and insight on how to innovate," said Rahul Singhal, Chief Product Officer of Innodata. "After conducting extensive research, we found data scientists were seeking easy-to-use workflow processes, KPIs, and automated annotation capabilities not available in other data annotation products on the market. We built our Annotation Platform to directly address these needs, enabling data scientists to increase focus on model development and, ultimately, accelerate AI production rate."

Advanced features of Innodata's Annotation Platform include:

• Seamless Workflows centralize all data and project processes, so users can easily configure projects and allocate workloads all in one place.
• Customizable Workbenches manage complex information at scale with high quality and precision, including record and document classifications with inline text classification expected to be available by year-end.
• Real-Time KPIs track quality, progress, and productivity against benchmarks to help keep projects on course.
• Auto Annotation allows data scientists and annotators to accelerate annotation by integrating Innodata ML models, third-party ML models, and custom models.²
• Cloud-based and On-Premises deployments supported.

"Harnessing complex raw data for training AI is a major time and cost impediment for companies building quality machine learning models," said Jack Abuhoff, Chief Executive Officer of Innodata. "Last year, we supported 30+ companies with data annotation managed services. Now we can support customers that need a user-friendly version of our proprietary production platform to generate high-quality output while leveraging automation."

Learn more about Innodata's Annotation Platform and its available packages here, or simply book a demo or request a free 30-day trial today.

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.

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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.

¹Global Market Insights, Inc., Data Annotation Tools Market Worth over $7bn by 2027 (May 2021).
²Feature coming soon.

Contact:

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

SOURCE: Innodata Inc.

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