How to Identify, Prepare and Package Data for Monetization in AI
les Nouvelles - Journal of the Licensing Executives Society, Volume LVI No. 3, September 2021
9 Pages Posted: 5 Oct 2021
Date Written: September 2021
As computers have become more powerful and the collection of data has exploded, monetization opportunities for an organization with respect to its treasure troves of data are becoming more and more prevalent. In order to assist organizations on how to prepare and package data for monetization in artificial intelligence(AI)/machine learning(ML) opportunities,1 this article provides an overview of key considerations outlined at the 2020 LES USA and Canada Annual Meeting in a virtual presentation that was shared with the same title.
Part I provides a primer on how ML works and the role data plays in it.
Part II provides a summary of key contractual considerations for licensors and users of data for ML applications, based on IBM’s typical clauses for The Weather Channel (a licensor of data) and Watson (a licensee of data).
Part III provides insights on how Getty Images has developed an innovative business in licensing data sets of images and videos for use with ML applications.
Part IV provides an explanation of two real world examples of business systems built using ML technology from Perception Partners.
Keywords: Monetization in IA, computers, ML works, ML applications, getty images, ML technology
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