{"id":28673,"date":"2022-03-08T15:24:59","date_gmt":"2022-03-08T23:24:59","guid":{"rendered":"https:\/\/insidebigdata.com\/?p=28673"},"modified":"2022-03-08T15:25:03","modified_gmt":"2022-03-08T23:25:03","slug":"appen-invests-in-synthetic-data-business-mindtech","status":"publish","type":"post","link":"https:\/\/insidebigdata.com\/2022\/03\/08\/appen-invests-in-synthetic-data-business-mindtech\/","title":{"rendered":"Appen Invests in Synthetic Data Business Mindtech"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

Appen Limited<\/a>, a leader in data for the AI Lifecycle, announced the investment in Mindtech<\/a>, a synthetic data company specializing in the creation of high-quality training data for AI computer vision models. As part of the investment, Appen has formed a commercial partnership agreement with Mindtech.<\/p>\n\n\n\n

Mindtech is the creator of Chameleon, a self-serve platform that enables customers to create and curate vast computer vision synthetic data assets used to build accurate neural networks. Mindtech\u2019s customers include leading retailers and consumer electronics companies.<\/p>\n\n\n\n

\u201cMindtech has created a scalable platform for the generation of large volumes of synthetic training data. The partnership between Appen and Mindtech will provide customers with the ability to curate a combination of real-world and synthetic data across a wide variety of use cases,\u201d shares Appen CEO Mark Brayan.<\/p><\/blockquote>\n\n\n\n

Synthetic data is an emerging component of the training data market that is used to augment real-world data. It is particularly useful for the creation of edge-case data that is difficult to capture. The synthetic data market segment is forecast to grow to $1.15B by 2027, representing 48% CAGR1<\/sup>.<\/p>\n\n\n\n

\u201cWe\u2019re excited about this strategic partnership with Appen,\u201d shared Steve Harris, CEO at Mindtech. \u201cIt\u2019s going to enable more customers to rapidly train their AI systems with high-quality, precisely annotated synthetic data while complementing Appen\u2019s existing products of real-world data collection, management, and annotation. By working in partnership, we\u2019ll accelerate the development of AI systems that better understand how humans interact with each other and the world around them.\u201d<\/p><\/blockquote>\n\n\n\n

The investment is a continuation of Appen\u2019s strategy to deploy capital into product-led businesses that generate new and emerging sources of training data to support AI lifecycles.<\/p>\n\n\n\n

In addition to the investment in and partnership with Mindtech, Appen released their full-year earnings results on 24 February. Revenue grew to $447M, cementing Appen\u2019s position as the market leader.<\/p>\n\n\n\n

Sign up for the free insideBIGDATA newsletter<\/a>.<\/em><\/p>\n\n\n\n

Join us on Twitter: @InsideBigData1 \u2013 https:\/\/twitter.com\/InsideBigData1<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Appen Limited, a leader in data for the AI Lifecycle, announced the investment in Mindtech, a synthetic data company specializing in the creation of high-quality training data for AI computer vision models. As part of the investment, Appen has formed a commercial partnership agreement with Mindtech.<\/p>\n","protected":false},"author":10513,"featured_media":24702,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[526,115,182,180,67,56],"tags":[437,1069,96],"acf":[],"yoast_head":"\nAppen Invests in Synthetic Data Business Mindtech - insideBIGDATA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebigdata.com\/2022\/03\/08\/appen-invests-in-synthetic-data-business-mindtech\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Appen Invests in Synthetic Data Business Mindtech - insideBIGDATA\" \/>\n<meta property=\"og:description\" content=\"Appen Limited, a leader in data for the AI Lifecycle, announced the investment in Mindtech, a synthetic data company specializing in the creation of high-quality training data for AI computer vision models. 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The report highlights increasing C-suite involvement and investment in enterprise AI projects as well as data being a key challenge as AI models\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2020\/07\/Appen_State_of_AI_report.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":29641,"url":"https:\/\/insidebigdata.com\/2022\/06\/22\/making-a-case-for-the-first-open-source-platform-for-synthetic-data\/","url_meta":{"origin":28673,"position":1},"title":"Making a Case for the First Open Source Platform for Synthetic Data","date":"June 22, 2022","format":false,"excerpt":"In this special guest feature, Yashar Behzadi, Ph.D., CEO and Founder of Synthesis AI, discusses on the importance of a community like OpenSynthetics in developing more capable AI models. OpenSynthetics, an open community for creating and using synthetic data in AI\/ML and computer vision, is open to practitioners, researchers, academics,\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29087,"url":"https:\/\/insidebigdata.com\/2022\/04\/18\/introducing-opensynthetics-the-community-hub-focused-on-synthetic-data-for-ai-development\/","url_meta":{"origin":28673,"position":2},"title":"Introducing OpenSynthetics: The Community Hub Focused on Synthetic Data for AI Development","date":"April 18, 2022","format":false,"excerpt":"OpenSynthetics, an open community for creating and using synthetic data in AI\/ML and computer vision, was launched to practitioners, researchers, academics, and the wider industry. OpenSynthetics is a dedicated community focused on advancing synthetic data technology with centralized access to synthetic datasets, research, papers, and code.","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28647,"url":"https:\/\/insidebigdata.com\/2022\/03\/07\/the-decade-of-synthetic-data-is-underway\/","url_meta":{"origin":28673,"position":3},"title":"The Decade of Synthetic Data is Underway","date":"March 7, 2022","format":false,"excerpt":"In this contributed article, Gil Elbaz, CTO and Co-founder of Datagen, sheds light on new developments that will make the \u201820s the decade when synthetic data finally breaks through to become a mainstream part of practical AI applications. Artificial intelligence algorithms are only as good as the data that train\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27623,"url":"https:\/\/insidebigdata.com\/2021\/11\/17\/book-review-synthetic-data-for-deep-learning\/","url_meta":{"origin":28673,"position":4},"title":"Book Review: Synthetic Data for Deep Learning","date":"November 17, 2021","format":false,"excerpt":"\"Synthetic Data for Deep Learning,\" by Sergey I. Nikolenko (published by Springer), represents a very good academic treatment of the subject. But what gives the book more street cred is the fact that the author is also Chief Research Officer for Synthesis AI, a start-up company pioneering this accelerating field.\u2026","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2021\/11\/SyntheticData_book_fig1.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":32673,"url":"https:\/\/insidebigdata.com\/2023\/06\/17\/synthetic-data-the-cure-to-data-drift\/","url_meta":{"origin":28673,"position":5},"title":"Synthetic Data: The Cure to Data Drift?","date":"June 17, 2023","format":false,"excerpt":"In this contributed article, Steve Harris, CEO of\u00a0Mindtech, discusses how data drift is a growing problem affecting almost two-thirds of organizations. Synthetic training data is becoming richer, more diverse, and closely aligned to real world data and has emerged as a solution to overcome the potential of data drift.","rel":"","context":"In "AI Deep Learning"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/insidebigdata.com\/wp-content\/uploads\/2023\/06\/Synthetic_data_shutterstock_2306922019_special.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/posts\/28673"}],"collection":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/users\/10513"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/comments?post=28673"}],"version-history":[{"count":0,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/posts\/28673\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/media\/24702"}],"wp:attachment":[{"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/media?parent=28673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/categories?post=28673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebigdata.com\/wp-json\/wp\/v2\/tags?post=28673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}