Interview: The multibillion dollar data market boom fueled by generative AI & why AI data innovation will come faster from small companies

Yahoo Finance
January 24, 2024
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Originally published on Yahoo Finance

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Nomad Data's CEO Brad Schneider spoke with Rachelle Akuffo of Yahoo Finance on why smaller companies will be able to innovate AI faster and how generative AI is fueling a multibillion dollar data market boom.


Watch the interview and read a recap below:

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According to many experts, artificial intelligence will be a boom for productivity and efficiency—but only if quality data is provided. Tech giants including Meta (META) and Google (GOOG, GOOGL) are taking the lead and could very easily swallow the smaller stakeholders in the sector, specifically in the monetization of data.

Nomad Data CEO Brad Schneider discusses how AI will turn data into dollars. Schneider notes that social and online media sites will instrument the first wave of data monetization, which involves training large language models, while the second wave focuses on more specific, “narrower” models that serve single functions.

Large tech companies are "the most data-hungry ones today,” Schneider explains, saying they are "building the tools" of the so-called AI revolution. Schneider goes on to say smaller companies will be able to innovate AI faster.

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