Machine learning dataset company Appen says its half-year statutory profit rose 33 per cent to $18.6 million as customers demanded more quality training data.
Appen said its revenue was up 60 per cent to $245.1 million, or up 47 per cent on a constant currency basis.
Appen creates human-curated datasets to train artificial intelligence programs and chief executive Mark Brayan said existing customers were asking for more data to develop new AI products.
Mr Brayan said Appen’s $430 million purchase of San Francisco-based data annotation platform Figure Eight in March was “accelerating our technology road map, diversifying revenue and expanding markets for us”.
Appen shares rose to $29.98 at the open on Thursday, building on Wednesday’s 10.8 per cent rise before reversing.
AAP
Be the first to comment