NEW YORK, NY / ACCESSWIRE / January 12, 2022 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, today announced that a Fortune 500 insurance company has expanded its scope of services with Innodata to support its medical record predictive model development. The expansion adds approximately $700 thousand of anticipated one-time revenue to the revenue estimates previously announced on September 15, 2021 of approximately $3 million of one-time revenue and $800 thousand per year of ongoing annual revenue.

"This expansion further validates our approach to creating high-quality AI training data from medical records," said Jack Abuhoff, Innodata's Chief Executive Officer. "By combining our data annotation platform's auto-tagging intelligence and various proprietary AI models with our Synodex medical data extraction platform, we built a unique platform for creating large volumes of high-quality medical record AI training data that meets stringent information security protocols and HIPAA requirements. We anticipate that we can use this new platform to help a range of companies focused on using AI to analyze, organize, and share medical record data."

Learn more about Innodata's insurance offerings here.

About Innodata

Innodata (NASDAQ:INOD) is a leading data engineering company. Prestigious companies across the globe turn to Innodata for help with their biggest data challenges. By combining advanced machine learning and artificial intelligence (ML/AI) technologies, a global workforce of over 3,500 subject matter experts, and a high-security infrastructure, we're helping usher in the promise of digital data and ubiquitous AI. 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 15, 2021, as updated, or amended by our other filings 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. 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.

CONTACT:

Jessie Schnurr
jschnurr@innodata.com
201-371-8189

SOURCE: Innodata Inc.