Sapien Secures $5 Million in Seed Funding for AI-Driven Data Labeling

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Sapien, a data labeling firm, secured $5 million in a seed financing event. This investment will speed up the growth of their data labeling business. Investors participating in this round were Primitive Ventures, Animoca, Ravikant Capital, and Yield Guild Games.

Sapien intends to invest capital to enhance its AI technology for better assistance in data labeling jobs. Furthermore, the firm aims to strengthen its blockchain structure to recruit more human labelers and broaden its team.

Exciting announcement from Sapien: We’ve secured $5 million in funding to revolutionize data labeling through a combination of human intelligence and technology. Join us in redefining the collaboration between humans and AI! #AIxWeb3 #BlockchainRewards #Gamification

— Sapien AI (@SapienGamified) April 10, 2024

Empowering AI through Gamification

Sapien uses rewards based on blockchain technology to make data labeling more fun and engaging for users, motivating them to participate. This method is essential for enhancing the performance of AI language learning models like OpenAI’s ChatGPT, as it accurately categorizes text, images, and multiple data formats with labels.

The data labeling industry, currently worth $6.8 billion, is expected to expand dramatically to around $75 billion by the year 2032. At the same time, the larger artificial intelligence market is forecasted to hit $738 billion by 2029, indicating significant growth prospects.

Sapien’s recent success in securing seed funding highlights the growing significance of data labeling in driving advancements in artificial intelligence (AI) technologies. With a solid financial foundation and groundbreaking methods, Sapien is well-positioned to make a substantial impact on the future evolution of AI.

Also read: Dragonfly Spearheads $12M Seed Funding for Agora’s Stablecoin Launch

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2024-04-10 19:32