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3 Reasons Why INNODATA Inc should be on your Investment Watchlist!

12 Apr 3 Reasons Why INNODATA Inc should be on your Investment Watchlist!

Innodata, Inc. (NASDAQ: INOD) 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, Inc. (NASDAQ: INOD)

Market Cap: $185.93M; Current Share Price: 7.19 USDChart
Data by YCharts

A Burgeoning Industry with Huge Potential
The advent of smartphones, the impact of the pandemic and increasing adoption of cloud storage solutions are compelling organizations to digitlize their services to cater to new-age customers who rely greatly on online platforms for their needs. According to a report by IDC, the worldwide spending on digital transformation products and services is likely to reach $2.3 trillion in 2023, growing at a CAGR of 17.1% from 2019 to 2023.

Companies are now using data analytics, to generate actionable insights that will lead to better customer understanding, improved engagement and loyalty. The evolution of technology is also contributing to the rising popularity of digitization, with Artificial Intelligence, Machine learning, IoT and blockchain simplifying the complexities of Digital Transformation.

Data Analytics is bringing about exciting new changes in numerous fields such as agriculture, manufacturing, retail and healthcare to name a few. Many fields stand to gain from the application of meaningful insights provided by machine driven analysis of complex disparate data, available through various sources.

The implementation of machine learning and artificial intelligence is making skimming through large information sources even easier. The evolution of this technology enables companies to use this information for crucial decision-making involving stakeholders, employees and customers.

The emergence of multi-cloud-based technologies results in use of improved computing mechanisms and more affordable storage. Emerging technology such as blockchain also validates the need and relevance of using data analytics for information processing and decision-making.

An increasing number of organizations are now focusing on their digital customer experience which has opened up numerous avenues for marketing communication and customer engagement. However, the most crucial component of any such marketing strategy is the availability of customer data and critical insights into consumption and usage patterns. This information is a literal goldmine and can act as the foundation for a company’s marketing and customer outreach efforts, it can propel cross-channel marketing campaigns, used for customizing mobile solutions and offerings to customer groups and most importantly to promote engagement and loyalty.

However, increasing concerns about data security and privacy, network vulnerability and challenges with integrating legacy systems with new age systems may hamper the growth and adoption of digital platforms.

A Portfolio of Leading-Edge AI – Powered Data Solutions
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.

A Platform for Every Need
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.

Image Source: Company

 

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.

Key Takeaways

  • 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 facilitate 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 (NYSE: HPE), Bloomberg , Apple (NASDAQ: AAPL), Deloitte, abbvie (NYSE: ABBV), BBC and Cosco Shipping (OTCPK: CICOF)  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 diverse sets of industries like financial services, legal, healthcare, and pharma.
  • 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://innodata.com/innodata-expands-engagement-with-leading-social-media-platform-for-up-to-7-0-million-in-ai-services-for-2021/

    https://innodata.com/innodata-expands-ai-capabilities-to-support-robotics-initiatives/

    https://www.idc.com/getdoc.jsp?containerId=IDC_P32575

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