Aiisma, a first of its kind, disruptive and innovative data ecosystem, has launched in the UAE. Combining proprietory software and hardware solutions, the company rewards consumers for sharing data and enhances data privacy and control while giving enterprises access to filtered, structured and consentually-collected consumer data.
The ecosystem serves as a data exchange platform, connecting consumers with businesses. This offers organisations an opportunity to request permissioned data in a transactional format, which creates value for the consumer by transforming their data into an asset.
Aiisma is poised to be a pioneer as a data marketplace, being transparent and beneficial to both the consumer as well as the business. The ecosystem, which is currently in beta, is positioned to launch in the UAE alongside the Indian sub-continent launch later this year.
Ankit Chaudhari, founder of Aiisma, along with his co-founder, Nicholas Böhnlein, established Aiisma in 2018 in Las Vegas, USA, followed by its APAC and MENA headquarters in Sharjah, UAE in 2019, with a vision of disrupting the traditional data collection industry or ’Data Colonisation’, as it is referred to by Aiisma.
Globally, data protection laws are considered by many to be too complex, creating challenges for businesses seeking to access consumer data, or too lenient for consumers looking to protect their data against an invasion of privacy. Data protection laws also tend to allow for grey areas in which consumers run the risk of being exploited for their data. The mission of the Aiisma founders is to return the owernship of data back to consumers, while giving businesses the opportunity to consenually and legally have access to consumer data at a fair price and under transparent conditions.
Aiisma’s UAE vision has been further strengthened by Dubai-based Varun Sridharan, who has recently joined the team as an investor and co-founder, sharing the same vision of consumer data being one of the world’s most valuable assets.
Chaudhari elaborates upon the vision of Aiisma: “If you had an oil rig, you would not give your oil away for free. So why give your data away without charge when it can be just as valuable? This recognition was part of the motivation to create a transparent data transaction ecosystem between the consumer and the businesses, disrupting dated, traditional data gathering methods.”
Headquartered in Las Vegas, with offices in India and most recently Sharjah, Aiisma has set its sights on creating a positive change around the world. Chaudhari says: “#MyDataMyAsset is a campaign Aiisma wants to spread around the globe, and the UAE Government’s overwhelming support for start-ups and the country’s technologically-aware population makes the UAE a critical market for our launch.”
Aiisma’s unique culture of understanding consumers’ data privacy and owernship, while being aware of the importance consumer data plays in the advancing technology, is a disruptive and new approach focusing on returning the power of data back to consumers.
The Aiisma ecosystem will be launched in Q4 2019 in the UAE and India. Interested consumers or businesses can get in touch with Aiisma to engage in beta testing.