WASHINGTON and SEOUL, South Korea, Feb. 25, 2020 /PRNewswire/ -- FiscalNote, a global technology and media company, today announced that they will be entering the AI data and annotation market with a new product called DataHunt.
The new product provides a layer of labels and annotations on top of large volumes of images, videos, audio, text, and other data sources, using AI, machine-learning, and crowd-sourced gig economy workers. DataHunt supplies annotation capabilities and services for companies and organizations in a more AI-driven world.
FiscalNote plans to continue to build on its previous expertise and strengthen its competency in data aggregation, cleansing, and labeling by partnering with customers in a wide range of industries. These relationships help FiscalNote better serve its core clients by gaining insights into more innovative tools and methods of data aggregation in the policy space and spread the cost over a larger, more diverse number of datasets.
The product launch is part of a broader push to generate new lines of growth, commercializing FiscalNote's core data aggregation and processing technology with a more diverse range of information and to expand within Asia.
"FiscalNote's core competency has always been in aggregating and processing large amounts of unstructured data for our customers to consume," said FiscalNote co-founder and Chief Strategy Officer Gerald Yao. "While we started in the legislative and regulatory data space, primarily labeling government documents and transcripts, we continue to innovate in the growing data labeling market by lowering the cost of operations with innovative applications and sharing our deep data management expertise with the broader world."
Tae Heun Kim (T Kim) will be leading the product line based in Seoul, Korea. Tae Heun was previously at $6 billion private equity fund Hahn and Co. and Citigroup.
"We are excited about the opportunities within the data annotation space, especially at its nascent stages in Asia," said T Kim. "While the industry is expected to grow exponentially, we are already seeing strong demand from industry leaders and partners such as NHN and intend to provide solutions tailored to best address their needs. We are confident in our ability to deliver Asia's first integrated platform for machine learning assisted data labeling made possible by FiscalNote's cutting edge technology and expertise."
Seoul Mayor Park Won-Soon visited FiscalNote's Washington, DC headquarters in January to discuss FiscalNote's continued growth in Asia, as well as partnerships between the city and the company, including the new DataHunt product line.
"FiscalNote's model is about collecting and analyzing legal and regulatory information coming from the government," said Mayor Park. "I am very proud of Mr. Hwang because of his vision of providing this data to businesses and governments. This model is needed in Seoul and I will do my best to support [FiscalNote] in Seoul."
FiscalNote has built the product in stealth mode for several months and has already launched several pilot projects with large enterprises including NHN, one of Korea's largest technology companies. Based on early market success and strong demand, the company expects to expand the number of clients using its data labeling platform throughout Asia, America, and Europe.
FiscalNote is a technology-powered global software data and media company that uses powerful machine learning to provide clients with the right policy information and insights, and at the right time so that they can better navigate market risk and uncertainty and maximize new opportunities.
As the premier hub of domestic and global information for more than 5,000 clients worldwide, FiscalNote's tools, analysis, news, and award-winning journalism delivers context, clarity, and a competitive edge in a rapidly changing world.