Despite economic impacts from the COVID-19 pandemic, the Artificial Intelligence (AI) industry has continued to grow and is forecasted to continue its growth trajectory in the coming years. However, the industry needs high-quality training data to support this growth.
It’s not surprising then that as the AI industry has grown, the data labeling industry is growing rapidly in tandem. The data annotation tools market size was more than $700 million in 2019 and is predicted to grow by more than 30% in the next six years. As the demand for training data increased, there has also been an increase in offerings from different data labeling tools and partners.