AI Convergent Acquisition Datasaur, Wants to Become a Leader of "Data Labeling" Platform

Data labeling platform developer Datasaur announced its acquisition of AI Convergent, technology development startup optical character recognition (OCR). Through this acquisition, both Datasaur and Convergent AI will integrate and expand their capabilities in the realm of OCR and data labeling.

Both Datasaur and Convergen AI are both GDP Venture startup portfolios.

Based on information from its official blog, Datasaur said that it has established a close partnership with Convergent AI since working on various project together the last few years. Datasaur said that it had integrated Convergent AI's technology, especially its main capabilities in handwriting recognition, government ID field extractionand intelligent document processing.

"I have known the Convergent AI Founders, Lintang Sutawika, and Timotius Devin since the birth of Datasaur. We have built a closer relationship and share a common vision for the future of the AI ​​industry. They have built a strong and close team in accordance with our values. I can't imagine a better way to grow the team and accelerate our growth," said Datasaur Founder & CEO Ivan Lee.

Since November 2021, Datasaur said it has begun to expand the scope of development from text annotations to transcription and audio annotations. It considers audio as a field that is 'adjacent to the text'. This way, any user who uploads and copies audio can perform the same NLP labeling we have developed in the first place.

In the same way, Datasaur will extend its capabilities to the OCR field, support to image formats and PDFs containing text. As is known, the data labeling process is one of the important aspects in developing AI-based services, especially in -based modeling natural language processing (NLP).

"We've seen how users upload documents, apply OCR to capture relevant text, then annotate the results. By acquiring Convergent AI, we want to strengthen our position as the industry leader in NLP labeling solutions," he added.

Meanwhile, Konvergen.ai Co-founder Lintang Sutawika said he would assume the position of VP of Artificial Intelligence through this acquisition. "Our focus is on leveraging ML research, such as zero-shot/few-shot and weak supervision to improve the labeling process," said Lintang as quoted from his LinkedIn page.

For information, Datasaur is a technology developer startup that helps data labelers work more productively and efficiently. Datasaur handles all NLP models, including some of them entity recognition, document labeling, to parsing dependencies. Datasaur was founded by Ivan Lee.

Convergent AI focuses on developing AI technology for data capture needs (capture data) which refers to the process of collecting data from paper or digital documents using the OCR component. Convergent AI was founded by Lintang Sutawika and Timothy Devin. Meanwhile, both are portfolios of GDP Ventures.

AI market trends

Referring to research Verified Market Research, the global AI market in 2020 is estimated to be around $51,08 billion and is projected to skyrocket to $641,3 billion in 2028, with an estimated CAGR growth of 36,1% over the period 2021-2028.

This market value includes the technology-based AI (NLP, ML, Deep Learning) market, component analysis (hardware, software & services), and user categories (healthcare, manufacturing, agriculture). Meanwhile, this projection is also triggered by the increasing need for analysis and interpretation of large amounts of data.

In Indonesia, AI is simply implemented for the use of virtual assistants and chatbots in a service. There are not many AI developer startups in Indonesia, some of them are Kata.ai and Language.ai in the realm of NLP, and Nodeflux in the realm computer vision.

However, the AI ​​market, particularly in the field of NLP, in the country is estimated to increase in line with service trends healthtech, fintech, to quick commerce during the Covid-19 pandemic.