New York, NY, 2 July 2018 – Agorai, an integrated marketplace for Artificial Intelligence (AI) tools and the data assets that fuel them, and Ocean Protocol, a decentralized, blockchain data exchange protocol to unlock data for analytics and AI, today announced a strategic technology partnership. Under the agreement, Agorai will leverage Ocean Protocol’s innovative technology to enable fully transparent, completely decentralized and securely validated data services for Agorai’s AI and Data Marketplace. As a result, Agorai will be able to streamline data transfer and collection for individuals and companies using its Marketplace, giving its participants a secure and trusted way to share and sell data assets.
According to the latest statistics, 90% of the data in the world today has been created in the last two years alone and the current output of data is roughly 2.5 quintillion bytes a day*. Much of this data, though, is controlled by a handful of big companies which not only is uncompetitive, but also deprives the world of some potentially ground-breaking advancements.
“We believe that to create a more level AI playing field, we need to see a shift from the current landscape, wherein AI and its applications sit largely in the hands of a few giant companies. Agorai’s mission is to bring access to those AI tools and expertise to many so that they have the information and technology they need to make the best decisions about where AI can help them,” said Josh Sutton, CEO, Agorai. “By partnering with Ocean Protocol, we are giving our participants access to world-class thinking and innovative technology that will allow them to transfer and share data assets safely and transparently.”
Chirdeep Chhabra, founder at Ocean Protocol, commented: “Although a massive amount of data is produced every day, much of this is significantly under-utilized and remains locked and inaccessible. Value is trapped because users don’t have a safe and trusted means to exchange data on a global scale. Ocean Protocol will change that and enable a global data economy. By partnering with Agorai, we will be able to increase data access to all their marketplace participants, allowing data assets and services to be shared in a secure, auditable, and trusted way to further propel the advancement of AI.”
Agorai allows people to retain ownership of their own AI tools and data assets, while enabling others to access them at scale, across the globe. With Ocean Protocol, participants in the Agorai AI and Data Marketplaces can further benefit from sharing data with guaranteed data provenance and control, auditability, transparency and trust, helping Agorai achieve its mission of putting AI into the hands of those who need it.