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While Industries across the globe are grappling with the pandemic and its impact on their operations, Technology Industry has been focused on minimizing the impact and marching ahead with its innovations and breakthroughs, be it critical security systems, innovative marketing solutions or cutting-edge data analytics and search technology.
We take a look at some tech companies that are impervious to the scare and offer a very attractive upside in the long run. These companies not only have an excellent potential for growth and returns but have major upcoming catalysts such as contract awards, new products and services, growing client base or even global expansion plans lined up for 2021.
Ping Identity Holding (NYSE: PING)
Market Cap: $2.011B; Current Share Price: 24.50 USD
Data by YCharts
Ping leverages its cutting-edge intelligent identity platform to deliver comprehensive services such as multi-factor authentication, data governance, and Intelligent API cybersecurity. The services are compatible with any platform such as cloud, hybrid and on-premise environment. The Company’s service offerings encompass cloud adoption, digital experience delivery, Legacy IAM and mitigation of fraud risk among others. The platform also offers multi-factor authentication (MFA), Single Sign-On (SSO), Web/API access, API and Data security and Risk management to name a few.
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Ping serves over 60 percent of the Fortune 100 companies and delivers a 99.99 percent uptime with over 2 billion identities under management. Ping has built a robust network of partners, which help the company deliver turnkey integrations, some of which include the largest U.S banks, healthcare companies, retailers, aerospace and auto manufacturers.
Ping has been named a leader in the 2020 Magic Quadrant for Access Management report by Gartner, for the fourth year in a row and has many other such laurels to its credit. The Company has achieved an impressive Customer Net Promoter Score of 65, ahead of industry leaders such as Apple, Microsoft, Tesla and Oracle among others.
IoT security is extremely crucial as more and more devices use the internet to stay connected and store information online. According to an estimate by 2020, there would be over 20 million IoT devices and this poses a significant opportunity for cyber criminals seeking to misuse data. Cyberattacks can be carried out in the form of hacking, data breaches, malware attacks and DDoS and are more challenging to defend against.
According to a report by Brand Essence research, the Internet of Things (IoT) Security Market is poised to reach over USD 56.31 Billion by 2025 , global growing at a CAGR of 32.2% from USD 7.98 Billion in 2018. The growth in the market will be fueled by the growing demand for internet of thing devices that are interconnected such as connected cars, smart cities, wearable devices, smart homes to name a few. The services rendered encompass areas such as identity access management, security analytics, application and endpoint security and intrusion detection and prevention. The technology finds application in a wide variety of industries ranging from automotive, healthcare, banking and financial services and Insurance.
Further the industry is constantly evolving and adopting new technology to ensure that it offers the best security and networking facilities available. Blockchain, Artificial Intelligence and Machine Learning are the current buzzwords in the world of IoT security, with more and more companies realizing the need for an immutable decentralized record of transactions that can offer enhanced safety, performance and efficiency.
The factors will drive the growth for Ping as evidenced by validation of the Company’s technology by clients such as Netflix and Chevron among others.
Innodata Inc (NASDAQ: INOD)
Market Cap: $214.55M; Current Share Price: 7.99 USD
Data by YCharts
Innodata is a leading global data engineering company that is using a combination of artificial intelligence and human expertise. The Company offers cutting-edge services and solutions for harnessing digital data such as Data Annotation, Transformation and Curation, in addition to intelligent data platforms that are mission-specific, drive operational improvements and offer predictive data insights, through use of highest quality data analyzed by AI.
The Company has over 30 years of experience and has a network of over 3500 global experts tackling complex data challenges with the help of advanced machine learning and artificial intelligence technologies, while ensuring data integrity with its high-security infrastructure.
Innodata offers Data Annotation services such as image and video labelling, text labelling and content moderations, in order to make meaningful algorithms that can be used to train machine learning models to differentiate between multiple inputs and come up with accurate results.
The access to right data is the key to optimizing the performance of AI/ML solutions and the Company addresses this need by providing high quality training data that is ideal for computer vision, sentiment analysis, entity linking, text categorization, and syntactic parsing and tagging models. The data annotation services offered by the company encompass multiple industries and formats and include patient data, contracts, legal data, scientific data, medical and insurance records and financial information among others.
Image Source: Company
The Company’s data transformation solutions simplify complex data transformation by bringing together model development, maintenance and human inputs into an easy API that uses over 100 trained models that are uniquely suited for data tagging and extraction. Innodata offers services such as web data acquisition, format conversion, tagging, linking and extraction as part of its transformation solutions.
Innodata enables the collection, updating and management of data received from diverse sources through its data curation efforts, that can be subjected to data hygiene and advanced algorithms to match and merge them in a safe environment.
Innodata also offers intelligent automation solutions that not only reduce cost, increase productivity and improve processing times but also contribute to optimal utilization of human resources by reducing mundane manual tasks.
DocAnalytics is a cross-functional contract analysis platform that enables organizations to simplify complex business documents and contracts and facilitates the management of critical data from contracts, trade documents and agreements. The platform provides numerous advantages like automation of risk management, monitoring counterparty risk, portfolio risk management, collateral management and mitigation of covenant breaches among others.
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The Company’s text annotation platform facilitates the creation of precisely labelled annotated data at scale, that allows companies to input complex documents, which can be then used to create valuable insights. The platform also offers numerous advantages such as multiple configurations, scalable output, ease-of-use and secure infrastructure.
Synodex, Innodata’s medical records data extraction and analysis platform turns paper and imaged medical documents into usable information. The platform is efficient, format agnostic, scalable and flexible and delivers consistent and high-quality medical data.
Agility PR Solutions is a leading global media outreach, monitoring and measurement platform that helps companies connect with media influencers and optimize their public relations efforts. The Company has a global database of over 820,000 traditional media contacts and social media influencers.
Digital platforms generate valuable information that can offer insights into customer preferences and behavior, but the sheer amount of data available can be overwhelming to process and make sense of. This is where companies like Innodata can step up and help make this information useful, by using advanced analytical tools and facilitating data-driven, informed decisions.
Innodata recently signed an amendment to its agreement with a premier social media platform to provide AI services to the tune of up to $7 million in 2021. The move marks a potential revenue expansion of nearly 35 times last year’s revenue. The Company’s clients include Hewlett Packard, Bloomberg, Apple, Deloitte, abbvie, BBC and Cosco Shipping among others.
The Company is expanding its reach and has recently been chosen by Dexai, a leader in commercial kitchen robotics, to create training data for Alfred, its flagship robot. Innodata is upbeat about the prospects of leveraging its AI capabilities to a diverse set of industries like financial services, legal, healthcare, and pharma.
Most recently, the Company reported a 23 percent increase in revenue, which stood at $17.0 million, as compared to the same quarter a year ago, while the revenue for the first six months of 2021 was $33.0 million, up 16% from the year-ago period. Innodata is upbeat about its growth prospects in H2,2021, with new and recently acquired customers, an increased sales force and marketing and product improvements.
Market Cap: $1.59B; Current Share Price: 12.59 USD
Data by YCharts
Yext provides AI based search solutions to leading brands around the world. The Company enables brands to deliver direct answers to customers as the platform leverages natural language processing (NLP), knowledge graphs and advanced algorithms to decode search queries.
The Company aims to be a game-changer for enterprises that seek to do away with outdated key word search, by offering a leading-edge AI – enabling answering platforms that understands normal languages and provides specific answers to questions instead of links. Yext’s services are used by leading brands like Verizon, Vanguard, Subway, Marriott and even organizations such as the U.S State Department and World Health Organization.
Image Source: Company
The technology allows brands to achieve better conversions, as much as 1.4 times onsite conversions that with conventional search technology, and helps achieve higher customer satisfaction. Furthermore, it is much faster and cheaper to implement, delivers benefits such as increased order values and drives workplace productivity.
Yext customer support solutions offer features such as Site Search that delivers content in a single unified search, gives direct answers instead of links and provides 24/7/365 support to customers and partners. Through case form deflection that uses machine learning and natural language processing, Yext is able to reduce inbound case volume and reduce cost-to-serve.
The platform also empowers customer service agents to solve cases faster, through instant access to relevant information. Companies can also improve their search results by using SEO methods such as optimizing web pages and searches.
In July 2021, the Company announced an update of its AI search algorithm platform with features such as dynamic reranking for search results, revamped test search and experience training, and a reimagining of Yext’s data connector and app frameworks.
Furthermore, the Company has appointed industry veteran Laurie Cook as Vice-President of Public Sector. She will be spearheading the effort of Yext to serve the U.S federal, state and local government agencies.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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References
https://www.pingidentity.com/en/company/our-company.html
https://finance.yahoo.com/news/innodata-reports-second-quarter-2021-123000609.html
https://innodata.com/innodata-expands-ai-capabilities-to-support-robotics-initiatives/
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