The Algorithm Marketplace is the first App Store for Drone Data Analysis – A new world is upon us
This is truly exciting news! Instead of needing to hire a remote sensing specialist you can now download the software you need from The Algorithm Marketplace.
This innovation, which you can navigate to here, represents a partnership with more than 40 corporate and university partners who are licensing over 100 algorithms for automated drone data analysis. The open IP platform will give anyone the ability to create a solution and license it for profit and will allow any drone operator to take advantage of automated analysis instead of hiring a remote sensing specialist.
The primary features of the marketplace includes:
- Library of algorithms available to automatically analyze UAV data. NOTE: There are currently 100+ algorithms in the pipeline.
- Algorithm licensing for universities, researchers and GIS professionals
- Commercialization channel for independently-developed analysis tools
- Custom algorithm development to address specific business problems
PrecisionHawk notes that The Algorithm Marketplace will allow them to calculate the ROI of drones and begin utilizing this technology as a legitimate business tool. Here is a video from the PrecisionHawk team further explaining the concept.
Interested in getting involved? You can see the process in more detail here.
At a high level, all you have to do to get started is to contact PrecisionHawk with your algorithm. From there:
- They help you review and test it.
- A licensing agreement is signed and pricing is set.
- The creator receives a monthly report of sales, or if you are a business creating an algorithm for internal use, you maintain control of the IP and restriction levels.
Currently, the majority of the algorithm licensers in the The Algorithm Marketplace are university researchers and big business, but PrecisionHawk is encouraging students and individuals to reach out to us as well. Oftentimes when someone comes to them with an algorithm it’s something that one of their current clients is actively looking for and they are able to connect those the dots right away.