Why the price jumped this week

  • Exela Technologies, Inc. (NASDAQ: XELA) stock price rose 26.29% last week. That’s why it happened.

Exela Technologies, Inc. (NASDAQ: XELA) stock price rose 26.29% last week. Investors responded positively to Exela Technologies by announcing that it had surpassed 6,000 users on its Work-From-Anywhere (WFA) platform for Intelligent Document Processing (IDP). And WFA enables IDP to leverage the gig economy for exception handling and machine learning by providing a web-based application to add user data capture validation that can work from anywhere, anywhere. whenever. This cloud-hosted solution expands Exela’s technology advantage from the current ~6,000 users to a planned target of over 25,000 users by the end of the year.

WFA essentially opens access to a new flexible workforce worldwide to validate, correct and train machine vision result samples. And the variable workforce can log into the web app from their own device to work from anywhere, whenever it’s available, for as long as they want.

By parsing documents into unlinked snippets and presenting unique characters for validation, data remains anonymous, even for the most sensitive information. And with a cloud-hosted web application, users can log in from their desktop or mobile device and get paid per keystroke to confirm or fix character recognition, providing feedback to algorithms. machine learning from IDP while providing the highest quality assurance.

WFA provides competitive advantages to Exela by enabling the secure processing of sensitive data at the lowest overall cost, with rapid scaling, routing and access to the distributed workforce, providing continuous improvement of AI feedback loops. And combined with a network of data scientists to customize deep learning models and classification engines, Exela’s IDP solution enables rapid deployment of advanced automation, complemented by a global workforce, for a complete process solution that meets the highest quality requirements.

KEY QUOTE:

“As the global workforce evolves, Exela continues to deliver innovative platforms to leverage the gig economy with our Work-From-Anywhere solutions. We are thrilled to surpass our first milestone of users on our WFA platform, and with the uberization of exception management, we are excited to create on-demand job opportunities in countries affected by the pandemic and high unemployment.

— Suresh Yannamani, President of Exela

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

Eleanor C. William