AI and Blockchain are two highly evolving new technologies that will undoubtedly drive the future of transformation across industries
One of the essential things in the AI industry is the growing importance of data, whether it is the mobility or banking or finance or customer-service sector. Data is essential to make algorithms more efficient and intelligent. New methodologies are surfacing in the market, but the data remains a crucial part when building a consumer-ready algorithm. The quality of an algorithm depends on the data it is trained upon. If your data is biased towards a particular entity, groups, religions, races, and other such socio-economic factors, then the algorithm comes with inherent bias. Though there are many ways bias can impact an algorithm, the bias in data is a fundamental issue. This is one of the biggest challenges in the AI industry today.
As the digital connectivity foot-print increases, there is an increase in the value of data as well. We are moving in the direction of a data-sharing economy where data will be traded in exchange for financial value. Often, people do not know the implications of giving consent to various applications concerning their data. This is one of the reasons we need better consent management systems, and Blockchain technology seems to be the answer. Blockchains offers transparency and establishes trust between different parties, so while sharing data, there is a trust that your data is being used as per your consent.
In the process of building an AI algorithm, clean and structured datasets are needed. There are many service providers in the industry today who offer data collection, annotation, and labeling services, and enterprises are still struggling with issues like trust, transparency, quality, and bias. Unbiased is addressing the problems above with its Data Marketplace solution, which makes the data collection and…