Data engineering firm Innodata expands AI data annotation capabilities

Innodata, a US-based data engineering company, has expanded its artificial intelligence (AI) data annotation capabilities to include patient medical records.

The company also bagged a contract worth around $3 million from a Fortune 500 insurance company for supporting its medical record predictive model development and business analytics. The contract will also provide revenue of around $8,00,000 per year ongoing.

Innodata said that it has created a medical record AI data annotation platform by synthesizing capabilities from Synodex medical data extraction platform and its own AI data annotation platform.

The medical record AI data annotation platform is capable of generating huge volumes of high-quality AI training data, claimed the company. Besides, it is fully compliant with HIPAA and meets stringent information security protocols, while tapping auto-tagging intelligence with Innodata’s AI models.

Jack Abuhoff — CEO of Innodata said: “As AI moves from a ‘nice-to-have’ to a ‘must-have’, healthcare, insurance, and life sciences companies are likely to confront the data challenges most often cited as impeding AI success.

“Innodata is well-positioned to help these companies successfully overcome their data challenges and scale their use of AI.”