Imagine a world where computers learn and adapt just like human beings. They can make decisions, recognize patterns, and get better at tasks all on their own. This is all made possible by AI, which is transforming industries and making them more efficient than ever before.
But, here’s the catch: AI isn’t magic. It has to be given massive amounts of data to learn from, and raw data in itself doesn’t have much value. It must be organized, sorted and explained to machines to make it meaningful to them. This process is known as AI data labeling.
AI data labeling is similar to training machines on how to see, hear, and understand things. For example, if you want a self-driving vehicle to stop when it encounters a pedestrian or a red light, you need to label these objects in pictures and videos. This involves manually identifying and marking pedestrians and red lights in the images and videos. By providing this annotated data for AI model training, the car can learn to recognize and respond to pedestrians and red lights in real-world situations.
AI data labeling is crucial in creating new products and services across different industries, including healthcare, retail, automotive, and banking. This rising demand has significantly boosted the industry's revenue, with future growth expected. As more companies adopt AI and develop new learning methods, the need for data labeling continues to increase.
The global data labeling solution and services market is projected to grow from $11.6 billion in 2022 to $46.9 billion by 2030, with an expected compound annual growth rate (CAGR) of 19.5% during this period. (Reference: Market Report Description)
The traditional data labeling industry has been highly labor-intensive and lacked transparency, often resulting in minimal compensation for workers. Leveraging blockchain and cryptocurrency can significantly address these issues. By using blockchain technology and cryptocurrency, data labeling for AI can become more accessible and safer globally. OORT DataHub is pioneering this approach, calling it decentralized data labeling. A detailed comparison between OORT Datahub and the traditional data labeling industry can be found in Figure 2 and discussed as follows.
Decentralized data labeling offers global participation, allowing people from anywhere to join and earn cryptocurrency for their work. This approach removes traditional barriers, unlike platforms like Toloka, which limited hiring to specific nations and faced issues with cross-border payments. Just as individuals join Bitcoin to make money, contributors can earn regardless of location.
Blockchain enhances transparency in data labeling. Every step, from task completion to payment, is recorded and verified on the blockchain. This transparency prevents mistakes or disputes and increases trust between AI projects and their workforce. In Datahub, OORT uses its own high-performance layer-1 blockchain - Olympus Protocol- to achieve transparency.
All data on DataHub will be stored on OORT Storage, our enterprise-grade decentralized storage solution. Both raw and annotated data are encrypted and split into multiple pieces, stored across different locations, ensuring they cannot be tampered with or accessed without authorization. In contrast, data managed by centralized cloud platforms is more vulnerable to breaches and hacking.
Using cryptocurrency for payments speeds up the process, making cross-border transactions faster and cheaper. Smart contracts ensure tasks are easily assigned and payments are made within minutes. In contrast, traditional methods are slow and complicated, often taking weeks or months. More importantly, OORT datahub introduces a novel reward mechanism where contributors receive NFTs (non-fungible tokens) to recognize their efforts. These NFTs entitle the holders to a share of future data sale revenues, providing a significantly higher income potential for contributors as the rightful owners of the datasets.
OORT DataHub connects community members to collaborate on creating data collection and labeling tools. These tools become more efficient and effective with input from programmers, data experts, and AI projects. The teamwork steadily improves the speed and accuracy of data labeling tools.
What sets OORT DataHub apart is its unique Proof of Honesty (PoH) system, a human-in-the-loop auto-quality control mechanism. This system ensures immediate verification of the accuracy of submitted data labels, unlike traditional companies that take time to manually verify results, often missing errors.
In summary, OORT DataHub significantly improves data collection and labeling by making the process more accessible, easier, faster, and safer. With blockchain technology and OORT Storage it ensures secure data handling, encouraging people worldwide to participate.
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