Los Altos, CA – Thursday, December 7, 2023 – Akridata, a Visual Data Copilot, offering a comprehensive solution to curate, analyze, search, and synthesize visual data, today announced being named a Vendor to Watch in the IDC MarketScape: Worldwide Data Labeling Software 2023 Vendor Assessment.
The data labeling software market is experiencing a significant transformation driven by the current challenges of data labeling and the increasing demand for high-quality labeled data across industries. These challenges stem from the negative impact of current human-based labeling approaches on the model development cycle as well as the process of taking AI applications to production. Traditional methods of human data labeling have proven to be slow, costly, and laden with difficulties related to hiring, training, and managing labeling workforces. The growing complexity of labeling projects requiring domain-specific expertise further complicates the process, leading to tedious and time-consuming tasks, as well as inconsistency across labelers.
The IDC MarketScape’s assessment evaluates software vendors who have developed data labeling platforms with machine learning tools to help address these challenges human “labelers” often face. Having recently extended its auto-labeling capability to its Data Explorer platform to disrupt the labeling industry, Akridata is recognized by the IDC MarketScape as a Vendor to Watch for data labeling software. Akridata’s labeling approach is designed to harness the power of recent research and deliver the state of the art labeling.
Akridata’s Data Explorer, widely used across industries such as Industrial, Manufacturing, Automotive, Government Agencies, Retail, and Biomedical, is the first developer-friendly workbench that helps curate complex image and video data for AI model training. Users leverage Akridata’s Data Explorer to reduce the time and costs associated with data selection, model analysis, data labeling, and synthesis.
“We are honored to be recognized as a Vendor to Watch in the IDC MarketScape: Worldwide Data Labeling Software 2023 Vendor Assessment,” said Vijay Karamcheti, CEO and Co-Founder of Akridata. “We believe this acknowledgment validates our dedication to providing state-of-the-art data labeling solutions that empower organizations to unlock the full potential of their machine learning initiatives. As the data labeling software market evolves, we remain committed to driving innovation and delivering value to our clients.”
Akridata has recently incorporated several foundational models into its computer vision platform, Data Explorer, further evolving its platform to support the needs of users. Akridata delivers a transformative user experience through effortless slicing and dicing of data, text-based searching, and data refinement through visual and patch search functionalities.
“Today, labeling continues to be a time-consuming process, often taking data scientists a few weeks and several iterations to get it right,” said Sanjay Pichaiah, Co-Founder and Chief Product Officer at Akridata. “We believe being recognized by the IDC MarketScape as a Vendor to Watch is a testament to our data labeling software technology that is designed to reduce the manual labor attributed to labeling from days to hours.”
To get started with Data Explorer and learn more about Akridata, visit Akridata.ai.
IDC MarketScape: Worldwide Data Labeling Software 2023 Vendor Assessment, #US50010523, November 2023
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.