Ann: Trading update, cost reduction program and strategy refresh, page-178

Reading this thread there's heaps of pumpers and dumpers.

As a former shareholder (going back to 2016) it disappoints me how far this company has fallen. I got out when the writing on the wall said that something as simple as Captcha was able to do their job cheaper and a much larger scale. These guys had the opportunity to transform the company into an AI driven data annotation with light human intervention to improve the quality, but they didn't once step foot into the space that was theirs for the taking.

Now those same clients they used to have, have built their own AI machine learning engines and done the job themselves, whilst Appen, instead of investing in technology development to reduce their need for employees, tries to pivot into other revenue streams.

The company is oversold at this point, but the future is certainly bleak for these guys. GLTAH - I'll check in at the next up or down cycle.

EDIT: Also I would strongly distrust the words of anyone that talks about this company as an AI company: They either have no idea what AI means or what Appen does, or both. Appen IS NOT AN AI COMPANY and that is it's biggest problem.