2024 is the Year of Proprietary Data Due to its Central Role in AI Growth, According to Gulp Data
Gulp Data, a provider of data valuations, data-backed loans, and data monetization services, today declared 2024 a landmark year for proprietary data's influence in the artificial intelligence (AI) domain. Gulp Data points to the vital role proprietary data has as the "new gold rush," fueling the engines of AI innovation at a time when AI advancements are skyrocketing. Deals like Google and Reddit reaching a $60 million agreement for data to train Google's AI platform spotlight the true market value of proprietary data.
"AI is commanding our attention, yet even some insiders have overlooked the key component of its development ? the data," said Lauren Cascio, CEO of Gulp Data. "Contrary to the prevailing narrative, the real catalyst for AI progress is not solely the sophistication of algorithms or computing power, but rather access to vast quantities of data, particularly high-quality proprietary data."
Gulp Data identifies and addresses the twin hurdles facing proprietary data: navigating the complex legal landscape of data ownership and securing exclusive access to these high-value datasets. The company provides valuation, monetization, and documentation of consent for proprietary data and forges pivotal connections between businesses and data collectors. This approach ensures compliance with privacy laws and mitigates the risks associated with unauthorized data collection.
Gulp Data partners with businesses to dissect and appraise their unique datasets, uncovering the specific market value and potential of such data. This opens new avenues for revenue through data licensing in the burgeoning AI market.
"It is evident that 2024 is not the year of AI advancement but rather the year of proprietary data," added Cascio. "This is a golden opportunity for companies to generate significant revenue by licensing its data that is in high demand by the AI market."
Gulp Data has conducted thousands of data valuations and helped over 500 companies identify hundreds of millions of dollars in data revenue. The company has analyzed over 11 trillion data records and delivers a roadmap for companies to enable the valuation, lending and monetization of their data. Gulp specializes in data as an asset and offers lending tailored to today's IP and data-obsessed companies.
About Gulp Data:
Founded in 2021, Gulp Data is a provider of data valuations, data-backed loans, and data monetization services. Powered by proprietary machine learning, the company can perform rapid data valuations to accelerate data monetization efforts, as well as provide non-dilutive loans using copies of the borrowers' data as collateral. The company operates globally and offers its services to businesses of all sizes. For more information, please visit www.gulpdata.com.
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