Nokia unveils Nokia Data Marketplace to support data monetization

Nokia unveils Nokia Data Marketplace to support data monetization

Finnish multinational technology company- Nokia has reportedly unveiled- Nokia Data Marketplace as-a-service to allow secured sharing of AI models and data, allowing digital transformation for companies. Notably, with an increase in data volumes, machine learning and artificial intelligence have become extremely integral to business decision making.

Nokia Data Marketplace has been created to assist entities and communication service providers or CSPs use their data for key decision making, by facilitating real-time access to various trusted datasets.

For the record, the novel services allow CSPs and entities to become a data marketplace provider themselves, by monetizing data transactions between the business ecosystem customers.

Nokia Data Marketplace allows secured data exchanges and authorization technology. The novel technology allows a wide variety of vertical use cases, that include environmental data monetization, EV charging, preventive maintenance that powers several vertical segments that comprise of energy, ports, transportation, healthcare, and smart cities, and supply chain automation.

According to a statement by Friedrich Trawoeger, VP, Cloud and Cognitive Solutions, Nokia, Nokia Data Marketplace will help CSPs and companies to benefit from better insights as well as predictive models to adopt digital means of working and discovering new revenue streams.

Seemingly, Nokia Data Marketplace helps ramp-up artificial intelligence initiatives with the help of federated learning. This mechanism, along with orchestration abilities provides integrated development of precise machine learning models for analytics use cases.

In addition to the above, the new solution meets the surging demand for a platform that may use machine learning and AI algorithms.

The latest Nokia Data Marketplace complements the Nokia Worldwide IoT Network Grid or WING that provides IoT connectivity worldwide and vertical applications. For instance, the asset tracking mechanism by Nokia WING is enhanced through Nokia Data Marketplace’s blockchain to extend secure and automated data exchanges as well as transactions between logistics partners for a faster turnaround.

Source Credit: https://www.globenewswire.com/news-release/2021/05/05/2223099/0/en/Nokia-launches-blockchain-powered-Data-Marketplace-for-secure-data-trading-and-AI-models.html