Artificial Intelligence (AI) is becoming an integral technology in today’s time. A large amount of data needs to be collected and then precisely annotated into training data to develop an AI. Many AI companies face data production problems as when manually done; it consumes lots of time and effort. Korean startup SelectStar has developed a mobile-based AI Data Crowdsourcing Platform to resolve the issue of tedious AI data production.
AI training data collection & annotation made easier
For AI development, large scale data is needed, which is diverse and accurate. For AI’s performance and robustness, a large amount of diverse data is vital, and the data annotation needs to achieve at least 99% accuracy. All businesses cannot afford, or 100 % rely on manpower for the task as it is expensive and time-consuming. SelectStar is a crowdsourcing platform for AI training data collection/annotation. A large number of crowd workers can sign up for the mobile app Cash Mission to do data work and receive rewards. AI companies can acquire data collection pools with diversity and large amounts of data quickly and accurately via outsourcing.
Selectstar has scalable data quality management technology such as a qualification test and a mathematical algorithm-based data validation system and has efficient data production technology such as deep learning-based semi-automatic annotation and similar data filtering technology. The data platform has images, text, and voice databases.
Plans for 250% growth in 2020
Selectstar was founded in 2018 and now has 81 clients for its data platform. The company has 34,000 data workers registered with 13.5M processed data and has revenue raised of $3.3 million. The startup wants to develop great value partnerships with clients for AI solutions. The current Selectstar system is more of a service, which the company wants to expand to better platform by increasing project capacity. Selectstar’s goal in 2020 is to reach 100 clients with revenue of $4.3M and 115k workers.
The AI market is expected to grow up to $75 billion by 2022, and the AI, training data market, is estimated to grow up to $7.5 billion globally and $0.7 billion in Korea. Selectstar expects to grow its market both globally and domestically. For global expansion it plans to recruit American and Indian workers first to attract global customers who need data collection from the US and India. The company wants to network with Silicon Valley VC circuit and find global partnerships.
Selectstar is participating in the third edition of the “TIPS X beSUCCESS Korean startup showcase” to be held online on September 23-24,2020. TIPS (Tech Incubator Program for startup Korea) is South Korean government-backed incubator, and beSUCCESS is Korea’s leading startup media company. The highly successful first two editions of the startup showcase were held in San Francisco and Palo Alto.
