The quest for data mining to train AI to its fullest potential in leading tech companies may be a silver lining for long-standing service platforms facing growth challenges but boasting extensive data repositories. Take, for instance, Photobucket, once a file hosting provider and former partner in Twitter’s image hosting system, now transformed into a monetizable asset capable of generating substantial capital.
Ted Leonard, CEO of Photobucket, disclosed that the company is currently negotiating with various tech firms seeking licenses to utilize over 13 billion images and videos on their platform for AI training. Negotiations are ongoing, with prices ranging from 5 cents to 1 dollar per image, or even higher for videos, depending on the quantity required and the specific image categories.
Leonard mentioned that some of the companies they’ve engaged with expressed that the data available from Photobucket is still insufficient for their needs, especially in terms of videos, where they require over one billion clips, a quantity that Photobucket does not possess. Despite this, the reports highlight the significant demand for data in training AI from major tech companies, with a willingness to pay top dollar.
Source: Reuters, Image: Photobucket
TLDR: Tech giants are in talks with Photobucket to access over 13 billion images and videos for AI training, with prices ranging from 5 cents to 1 dollar per image, showcasing the high demand for data in the tech industry.
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