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khushnuma @go_65fbf7a968b91
24 days ago
karls scott @go_65e6e7b4cc973
6 months ago
Data Collection and Labeling Industry: Analyzing Market Dynamics and Forecasts

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The global market size for data collection and labeling was estimated at USD 2.22 billion in 2022 and is anticipated to grow at a CAGR of 28.9% from 2023 to 2030. The combination bundle is designed to provide a holistic view of these highly dynamic market spaces. Further, the market is expected to witness a surge in technology adoption owing to benefits such as extracting business insights from socially shared pictures and auto-organizing untagged photo collections.

With the growing implementation of Electronic Health Record (EHR) systems, the accumulation of clinical data, including unstructured text documents, has become one of the valuable resources for clinical research. Statistical Natural Language Processing (NLP) models have been developed to unlock information embedded in clinical text. Additionally, text labeling is highly utilized in social media monitoring due to improvements in sentiment analysis. E-commerce companies use social media data to influence their customers to purchase. By utilizing image labeling, consumers shopping online can search for clothing or accessories by simply taking a picture of the desired texture, print, or color using their smartphone. The captured photo is uploaded to an app that uses AI technology to search an inventory of products and find similar items based on the visual characteristics of the uploaded image.

#DataCollection #DataLabeling #AITrainingData #DataQuality #DataAnnotation #MachineLearning #DataPreparation #DataInsights #DataAccuracy #DataDriven

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