Nokia has announced the rollout of Nokia Data Marketplace as-a-service to help in a secure sharing of AI models and data along with allowing data monetization and digital transformation for enterprises.
As data volumes are on a growing spree, machine learning and AI are becoming more and more important in business decision making. Talking about the Nokia Data Marketplace, it is designed in such a way that it lends a helping hand to the enterprises and communication service providers (CSPs), by offering real-time access to massive trusted datasets, so that they can use data in strategic decision making.
The brand-new service by Nokia also lets enterprises and CSPs become data marketplace providers themselves, by monetizing data exchanges between business ecosystem participants or customers. The Nokia Data Marketplace would ensure authorization mechanism and trusted data exchange. This opens the door for a wide range of vertical use cases including supply chain automation, electric vehicle charging, environmental data monetization, and preventive maintenance powering numerous vertical segments such as ports, smart cities, healthcare, transportation, and energy.
Vice President of Cloud and Cognitive Services at Nokia, Friedrich Trawoeger said that their customers need secure and trusted access to data for effective business decision making. He concluded by saying that with the help of the Nokia Data Marketplace, CSPs and enterprises can now take advantage of richer insights and predictive models to drive digital ways of working and tap into new revenue streams.
Nokia Data Marketplace would boost AI initiatives via federated learning. When this approach is integrated with orchestration capabilities, they may facilitate the collaborative development of highly accurate machine learning models for analytics use cases. In addition to that, it would also meet the increasing demand for a platform that can efficiently apply machine learning and AI algorithms to in situ data.
Nokia IoT Network Grid (WING) offers global IoT connectivity and vertical applications, which complements Nokia Data Marketplace. For example, Nokia WING’s asset tracking solution is enriched by Nokia Data Marketplace’s blockchain to offer secured and automated data exchange and transactions between logistics ecosystem partners for faster turnaround.
Senior Fellow, CTO Office, at Equinix, Kaladhar Voruganti said that the Nokia Data Marketplace along with the Equinix data centers enable organizations to share algorithms and data on a global level at more than 240 edge locations. He further said that the metal platforms at Equinix augment the service by Nokia to provide proximate, secure, on-demand infrastructure to government agencies and enterprises. Issues related to latency, network backhaul cost, and latency are mitigated by the sharing and processing of data close to its point of creation. He concluded his statement by saying that these secure and neutral edge locations are connected through secure and high-speed networks to data sources expanding across public clouds, data brokers, and enterprise data centers.