Appen value AI's potential at $5.8 trillion

Company News

by Rachael Jones

A leading global provider of data for Artificial Intelligence, Appen (ASX:APX) have just released their CEO statement.

It shows the total potential value creation by AI is $3.5 trillion to $5.8 trillion.

Appen is well positioned in a high growth market and is investing in people and technology.

Revenue is up 50 per cent to $166.6M for the financial year 2017.

Underlying EBITDA of $28.1M is up 62 per cent, statutory EBITDA up 29 per cent. 

They are also investing in Silicon Valley to develop advanced, machine learning-based toolsets to streamline and automate data collection for future margin expansion.

Shares in Appen (ASX:APX) are trading 2.14 per cent higher at $10.26

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.