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Blockchain-powered marketplace for sharing data and AI models launched

Nokia claims its as-a-service data marketplace will enable a wide range of vertical use cases in areas such as smart cities, transportation, ports, energy and healthcare.

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The Data Marketplace aims to accelerate AI initiatives through federated learning
The Data Marketplace aims to accelerate AI initiatives through federated learning

Nokia has announced a new blockchain-powered enterprise offering for data trading.

 

Called Nokia Data Marketplace, and offered as-a-service, it is designed to facilitate secure sharing of data and AI models, enabling digital transformation and data monetisation for enterprises.

 

Massive trusted datasets

 

As data volumes continue to surge, AI and machine learning are increasingly crucial in business decision-making. The new service bids to help enterprises and communications service providers (CSPs) use data in strategic decision-making by providing real-time access to massive trusted datasets.

 

According to Nokia it also enables enterprises and CSPs to become data marketplace providers themselves, by monetising data exchanges between customers or business ecosystem participants.

 

Nokia Data Marketplace ensures trusted data exchange and authorisation mechanisms. Nokia claims this will enable a wide range of vertical use cases, including electric vehicle charging, environmental data monetisation, supply-chain automation and preventative maintenance powering numerous vertical segments, including transportation, ports, energy, smart cities and healthcare.

 

“Our customers need secure and trusted access to data for effective business decision-making,” said Friedrich Trawoeger, vice president, cloud and cognitive services at Nokia.

 

“With Nokia Data Marketplace, enterprises and CSPs can now benefit from richer insights and predictive models to drive digital ways of working and tap into new revenue streams.”

 

Nokia Data Marketplace accelerates AI initiatives through federated learning. This approach, combined with orchestration capabilities, facilitates collaborative development of highly accurate machine learning models for analytics use cases.

“Data is the energy needed to run all future business; critical to their success in creating the best AI-based insights and [that] needs access to the largest data sets”

It also meets growing demand for a platform that can efficiently apply AI and machine learning algorithms to in situ data.

 

“Nokia Data Marketplace combined with Equinix data centres allows organisations to share data and algorithms globally at more than 240 metro edge locations,” said Kaladhar Voruganti, senior fellow, office of the CTO at Equinix.

 

“Our Metal platform augments this to provide secure, proximate, on-demand infrastructure to enterprises and government agencies.”

 

“Data is the energy needed to run all future business; critical to their success in creating the best AI-based insights and [that] needs access to the largest data sets,” added Justin van der Lande, principal analyst at Analysys Mason, a global consulting and research firm specialising in telecoms, media and technology.

 

“Data sharing between enterprise partners is vital in building complete data sets. Facilitating data sharing using a secure platform, such as Nokia’s blockchain-based Data Marketplace, accelerates enterprises’ building of new data sets and creates richer business partnerships for them.”

 

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