Nokia's new blockchain-powered service facilitates secure sharing of data, AI models

Nokia Data Marketplace accelerates initiatives in AI and machine learning via federated learning and when this approach is paired with orchestration capabilities, the service also facilitates collaborative development of highly accurate ML models for analytics use cases.

Devdiscourse News Desk | Espoo | Updated: 05-05-2021 14:31 IST | Created: 05-05-2021 14:31 IST
Nokia's new blockchain-powered service facilitates secure sharing of data, AI models
Powered by blockchain, the new service is designed to help enterprises and communications service providers (CSPs) use data in strategic decision making, by providing real-time access to massive trusted datasets and AI/ML orchestration capabilities. Image Credit: Pixabay

HIGHLIGHTS

  • secure data exchange with Blockchain
  • AI/ML orchestration capabilities
  • multiple data sharing and trust models
  • trusted monetization

Nokia on Wednesday launched Data Marketplace, a proven, secure and scalable solution that facilitates trusted exchanges and monetization of data via a private blockchain, enabling digital transformation and creating new revenue streams for enterprises.

Powered by blockchain, the new service is designed to help enterprises and communications service providers (CSPs) use data in strategic decision making, by providing real-time access to massive trusted datasets and AI/ML orchestration capabilities. It also enables them to become data marketplace providers themselves, by monetizing data exchanges between customers or business ecosystem participants.

"Our customers need secure and trusted access to data for effective business decision making. 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," said Friedrich Trawoeger, Vice President, Cloud and Cognitive Services at Nokia.

Nokia Data Marketplace accelerates initiatives in AI and machine learning via federated learning and when this approach is paired with orchestration capabilities, the service also facilitates collaborative development of highly accurate ML models for analytics use cases.

According to Nokia, the new Data Marketplace service enables a wide range of vertical use cases, including electric vehicle (EV) charging, environmental data monetization, personalized interventions, supply-chain automation and preventative maintenance powering numerous vertical segments, including transportation, ports, energy, smart cities and healthcare.

Nokia says the new service complements its Worldwide IoT Network Grid (WING), which offers global IoT connectivity and vertical applications.

"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," said Justin van der Lande, Principal Analyst at Analysys Mason.


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