2023-04-28
INFINIQ Reports 40% Increase in Sales, Fueled by AI Data Business
Established in 2005 as a first-generation software validation company in South Korea, INFINIQ entered the "AI data business" in 2016, providing services related to datasets required for AI development. This has secured new growth momentum for the company.
INFINIQ CEO Jun-hyung Park stated that "Machine learning/deep learning AI model development and deployment is a repetitive process based on governance, utilizing vast amounts of data and various tools. Collaboration between multiple organizations and efficient data processing is necessary in this process." He added that "INFINIQ helps to quickly develop high-quality models by obtaining insights from the overflowing amount of data, preparing and analyzing them, and repeatedly training and evaluating AI models."
INFINIQ has a high level of technical expertise and market share in the AI data business, particularly in the autonomous driving industry and computer vision field.
Its flagship product is "DataStudio," which manages the entire data life cycle of AI development. DataStudio is a proprietary DataOps framework that incorporates data collection, curation, annotation, inspection, data governance, and more to support the full life cycle of AI development in all required areas.
Park explained that "DataOps is a crucial data technology for industries that require massive datasets such as autonomous driving."
One of INFINIQ’s main products is the anonymization solution ‘Wellid’ which automatically blurs or replaces personal information such as faces and license plates in images and videos, making it unrecognizable. Recently, INFINIQ’s anonymization solution received the highest Good Software (GS) Quality Certification from the Korea Testing Laboratory (KTL).
Park explained that "when people think of personal information, they often think of text, such as a social security number, but as the amount of data increases, so does the amount of personal information in images and videos." He added that "Wellid is a personal information protection solution that focuses on this area."
In 2021, INFINIQ recorded sales of 17.6 million dollars, and last year, it achieved sales of 30 million, a 40% increase compared to the previous year. In particular, its AI data business, which is considered a new growth engine, grew more than 2.6 times compared to the previous year, accounting for more than half of its total sales.