Crowdsourcing: How Future AI Solutions Will Be Built
From our Austin Startup Week Fireside Chat — learn how crowdsourcing is changing business in energy exploration and beyond.
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When organizations have a specific need, crowdsourcing can help them tap into a new pool of talent with the creativity and skills to develop amazing ideas and solutions. Platforms like TopCoder in software engineering and Kickstarter in the entrepreneurship space are leading to crowd-developed solutions. Now Xeek by Studio X is doing the same for the energy industry.
In our fireside chat at Austin Startup Week, we discussed how you can get rewarded in this model and how it can play a bigger role in developing AI solutions for the future.
The Crowdsourcing Model
In essence, crowdsourcing allows ideas to come from anywhere, broadening the pool of talent to learn from. And it’s not a new idea — as early as the 18th century, the British government crowdsourced solutions to accurately measure longitudes, offering a £20,000 award. Even the Oxford Dictionary grew out of an effort from volunteers in the late 19th century. Crowdsourcing lets individuals come together for great societal benefit, and it has led to endless innovation throughout history.
Of course, it’s not a perfect system. Crowdsourcing can be ineffective if not done correctly. For instance, it doesn’t matter how many ideas there are if there’s no way to sift through and evaluate them. Or if you do not clearly define the problem or the success criteria, you end up with inoperative solutions. Crowdsourcing can be a game-changer, but it must be implemented thoughtfully.
The Benefits of Crowdsourcing
Today, we see more and more companies engaging in some form of “crowd” activity, like open source contributions and idea generation. Crowdsourcing can be efficient for organizations because it provides the opportunity to bring in new skillsets without having to hire and establish a whole new team. Companies can work with people they might never have reached before, bringing them together to develop better options and merge their ideas into one.
For participants, taking part in crowdsourcing is an easy way to make money, learn or improve their skills, and work in new contexts while tackling new problems.
Xeek and the Future of Crowdsourcing
Studio X designed Xeek to be a crowdsourcing community where creative minds in sciences and business can gather and collaborate. Through challenges with given datasets, participants create and collaborate on efficient solutions for energy exploration.
Going forward, we expect to see more crowdsourcing of AI solutions, both at Studio X and beyond. The future of crowdsourcing is powered by Web 3.0, in which decentralized data and ownership leads to increased openness and IP flexibility. Everything from the blockchain to decentralized autonomous organizations (DAOs) to smart contracts forecasts a more collaborative crowdsourcing model than ever before. This has the power to generate AI solutions that can change the way we work in energy exploration, and Studio X is proud to be a part of it.