RCS - Innodata Inc. - Innodata Wins Application Development Engagement

InnodataAnnouncement

24/01/2023 15:15

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RNS Number : 6167N  Innodata Inc.  24 January 2023

Innodata Further Expands Customer Engagement to Leverage Innodata AI/ML Models

NEW YORK, NY / ACCESSWIRE / January 24, 2023 / Innodata Inc
(https://pr.report/bf6uAzy7) . (NASDAQ:INOD), a leading data engineering
company, announced today that it has signed a significant application
re-engineering agreement to enable a customer to more fully leverage
Innodata-built artificial intelligence / machine learning (AI/ML) models.

The latest agreement expands the Cloud migration deal Innodata announced on
November 8, 2022 which enabled the customer to make greater use of Innodata's
sophisticated neural network-based AI/ML language models. With the latest
expansion, Innodata will continue to help the customer replace legacy
applications used to track and analyze financial deals across 33 global
financial markets with new AI-enabled, cloud-based applications.

Jack Abuhoff, Innodata CEO, said, "The expansion is testament to the success
of our initial partnership and our ability to help our customers drive
successful digital transformation that results in greater productivity and
agility. By partnering with Innodata, companies can reinvent and enhance their
business operations by leveraging digital technologies such as AI/ML and
scalable cloud architectures. As a result of our efforts, our customer is
automating routine functions, augmenting the way its most highly-valued
analysts work, and positioning its business for success."

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 (https://pr.report/VtAUCqvs) to learn more.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended, and Section
27A of the Securities Act of 1933, as amended. Words such as "project,"
"believe," "expect," "can," "continue," "could," "intend," "may," "should,"
"will," "anticipate," "indicate," "forecast," "predict," "likely," "goals,"
"estimate," "plan," "potential," or the negatives thereof and other similar
expressions generally identify forward-looking statements, which speak only as
of the date hereof.

These forward-looking statements are based on management's current
expectations, assumptions and estimates and are subject to a number of risks
and uncertainties, including without limitation, the expected or potential
effects of the novel coronavirus ("COVID-19") pandemic and the responses of
governments, the general global population, our customers, and the Company
thereto; impacts resulting from the rapidly evolving conflict between Russia
and the Ukraine; that contracts may be terminated by customers; projected or
committed volumes of work may not materialize; continuing reliance on
project-based work in the Digital Data Solutions ("DDS") segment and the
primarily at-will nature of such contracts and the ability of these customers
to reduce, delay or cancel projects; the likelihood of continued development
of the markets, particularly new and emerging markets, that our services
support; continuing DDS segment revenue concentration in a limited number of
customers; potential inability to replace projects that are completed,
canceled or reduced; our dependency on content providers in our Agility
segment; difficulty in integrating and deriving synergies from acquisitions,
joint venture and strategic investments; potential undiscovered liabilities of
companies and businesses that we may acquire; potential impairment of the
carrying value of goodwill and other acquired intangible assets of companies
and businesses that we acquire; a continued downturn in or depressed market
conditions, whether as a result of the COVID-19 pandemic or otherwise; changes
in external market factors; the ability and willingness of our customers and
prospective customers to execute business plans that give rise to requirements
for our services; changes in our business or growth strategy; the emergence of
new, or growth in existing competitors; various other competitive and
technological factors; the Company's use of and reliance on information
technology systems, including potential security breaches, cyber-attacks,
privacy breaches or data breaches that result in the unauthorized disclosure
of consumer, customer, employee or Company information, or service
interruptions; and other risks and uncertainties indicated from time to time
in our filings with the Securities and Exchange Commission.

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.

 

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