How to turn off Android Studio 3.0 Labels?

For Android studio 4 Go to Settings > Editor > Inlay Hints

Credit goes to @Quintin Willison in the comments of this answer

For earlier versions

Got to File > Settings > Editor > General >Appearance
And remove tick from this option

Show Parameter name hints

Disable code hint

press Alt + Enter when you are in that line and select "Do not show hints for current method"

further infos here

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