Cord Raises $4.5m to Automate Computer Vision Annotation Process

Posted: 15 June 2021

Cord, a startup automating annotation processes for computer vision, today announced that it raised $4.5 million in a seed round.

Training AI and machine learning algorithms requires plenty of annotated data. But data rarely comes with annotations. The bulk of the work often falls to human labellers, whose efforts tend to be expensive, imperfect, and slow. It’s estimated most enterprises that adopt machine learning spend over 80% of their time on data labelling and management. In fact, in a recent survey conducted by startup CloudFlower, data scientists said that they spend 60% of the time just organizing and cleaning data compared with 4% on refining algorithms.

Read the full article on VentureBeat.