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Innodata Signs Cloud Migration Deal Aimed at Helping Global Customer Leverage Innodata AI/ML Models to Reduce Cost
NEW YORK, NY / ACCESSWIRE / November 8, 2022 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, announced today that it has signed a Cloud
About this update from Innodata Inc.
[{"type":"text","content":"NEW YORK, NY / ACCESSWIRE / November 8, 2022 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, announced today that it has signed a Cloud migration deal with a global customer to enable the customer to take fuller advantage of artificial intelligence / machine learning (AI/ML) models Innodata built for the customer that are expected to drive operational efficiencies.Innodata built sophisticated neural network-based AI/ML language models in order to augment the company's human analysts and achieve cost savings. The models operate across English, Spanish, and Chinese languages. The company has identified a range of applications and databases that it wishes to modernize in order to leverage the AI/ML models.Jack Abuhoff, Innodata CEO, said, \"Our AI/ML performed so well that the company asked us to provide legacy application Cloud migration so that they can take full advantage of our AI/ML models. Moreover, we anticipate further expansion as we are in discussions about further legacy application migrations, database migrations, and additional scope for AI/ML across their workflows.\"Companies are increasingly turning to artificial intelligence as a way to reduce costs and improve productivity. Forrester recently recommended companies maintain spending on AI initiatives despite a potentially deep recession looming in order to increase efficiency and stay competitive. In a recent survey, more than 75% of technology leaders said that they expected their firms to spend more on technology this year, notwithstanding economic uncertainty, with investments focused on cloud computing, machine learning, artificial intelligence and automation.About InnodataInnodata (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.Forward Looking StatementsThis press release may contain forward-looking statements within the meaning of Section 21E of the Securi...