1. Business Process Outsourcing
Business Process Outsourcing (BPO) is known as business outsourcing that is performed between a client company and a service provider about a planned activity. Simply, it is hiring another company to perform a process that your business needs to operate, thereby freeing up more time for your core business activities.
2. Business Process Outsourcing in the AI data solution industry
High competitiveness arises from the increasing number of AI solution companies, making it easy to create in-house label data tools and teams or outsource to labeling companies and freelancers. The pressure for these companies is to find customers and plan strategies to decrease expenses.
Nowadays, AI solution outsourcing services are in high demand due to the advantages they offer over in-house development. The trend of software development outsourcing is increasing as businesses tend to complete their work from other data processing service providers or external individuals, allowing them to focus on their roles and responsibilities. In recent years, especially with the increasing digital transformation, Vietnam has become one of the most popular software outsourcing destinations in Asia, with a large number of data processing service providers. They provide an excellent combination of quality, affordability, and delivery speed, which is why it has become a promising new destination for data-related services.
The annotated data labeling market is valued at $629.5 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 26.6% from 2022 to 2030. The growth is primarily driven by the increasing use of annotated image data in the autonomous vehicle, retail, and healthcare industries. Data annotation tools enable users to enhance the value of data by annotating attributes to them. The data labeling industry is expected to benefit from the growing demand for improved machine learning and investment in advanced autonomous driving technology.
As more AI solution companies emerge, data annotation accounts for 60-70% of the results of an AI model. Managing an AI data labeling team can be challenging in terms of workers, which is why outsourcing data annotation services are becoming increasingly popular due to their service optimization.
Beework.ai is proud to be one of the high-level and flexible data annotation outsourcing companies with a team of data annotation experts for all of your projects. Contact us to experience and be satisfied with the products we provide.