After a rumored Facebook leak compromised the data of over 50 million users in March 2018, the subject of data security quickly became a hot topic. With Cambridge Analytica dominating the headlines, conversation turned to how user data is used by private corporations. More people started to realize that, in the current technological environment, they do not own their data. Rather, corporations use AI to collect, analyze and repackage peoples’ behavioural data to sell for profit. Sometimes this practice manifests in mundane things like tailored product recommendations when shopping; while other times user data is used for more nefarious needs.
It would, however, be unfair to only focus on the negative. The combination of AI and big data has also created a lot of good in the world. Because of the combination of AI and big data, the world is now blessed with accurate prediction and early warning systems for meteorological disasters; artificial intelligence-assisted medical diagnosis; optimized crop yields and more. But certain issues remain unresolved. Who owns the data? Do data owners have the right to know when and how their data is used? Should data owners benefit from their data? How?
Perhaps, the answer lies in blockchain. This emerging technology’s immutable, open and transparent features seemingly address many of the above questions. Both the Matrix AI Network and bitgrit believe that the combination of big data, AI and blockchain presents an ideal solution. It is on the back on this shared belief that Matrix and bitgrit have entered into a strategic cooperation agreement.
bitgrit is a Japanese company that believes in the decentralization and democratization of AI. They have a strong, established community of data scientists, coders and data providers. They operate a platform that makes advanced AI algorithms accessible to those who have a need; without necessarily the means to develop AI algorithm in-house. The proceeds generated are redistributed to those who have contributed to the code and to those who have contributed data in a fair and transparent manner. bitgrit has been operating in India, the Philippines and Japan since 2017. They have regularly held and attended forums and hackathons around the world.
What does this strategic cooperation entail?
Matrix and bitgrit signed a strategic cooperation agreement covering data sharing, technical support, community development and more. bitgrit’s large existing database and high-quality data scientist community will promote Matrix AI Network applications and aid in the training of Matrix’s AI algorithms. In turn, Matrix’s AI algorithms will increase the breadth and depth of bitgrit’s platform. In terms of community development, Matrix and bitgrit will focus on building shared communities in China, Japan and Southeast Asia. Both Matrix and bitgrit believe that through mutual effort, a future of practical, fair and transparent applications leveraging big data, AI and blockchain technology is within reach.
(Left: Matrix AI Network CEO Owen Tao right：bitgrit Founder Kazuya Saginawa-San)