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 Innodata

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.

Forward Looking Statements

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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 24, 2022, as updated or amended by our other filings that we may make 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. These forward-looking statements speak only as of the date hereof.

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.

Company Contact:

Marcia Novero
mnovero@innodata.com
201-371-8015

SOURCE: Innodata Inc.