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Modern businesses depend on data to thrive. With the advent of artificial intelligence (AI), data dynamics have greatly improved and become more accurate to benefit society.
However, there’s still a significant imbalance in data distribution among businesses. You’ll find that social network giants like Google and Facebook are drowning in data, while AI startups have innovative AI models but lack access to enough data.
In short, the true power of harnessing AI through data remains in the hands of a few. Such data centralization has multiple disadvantages for society, such as increased data monopoly, biased AI algorithms and higher chances of data breaches.
However, Ocean Protocol has leveraged blockchain technology to create an innovative system design that will decentralize access and provide ways to monetize data through the use of data NFTs and datatokens. Let’s learn more.
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