MarkiTech, A Top 20 AI Company, Launches API Marketplace – A Data Monetization Platform for Healthcare
MarkiTech.AI, one of the top AI development companies in healthcare and technology, implemented its unique data monetization platform called SIGNIA in early 2022 as a proof of concept for one of the largest ICT providers in North America (name kept confidential for client’s confidentiality reasons) . This platform enables enterprises to bring their solutions, services, and technology products to the developer and the software community in a fully self-service-friendly manner.
Based on Barak Alon, a business analyst, 60% of the service providers believe that they need to monetize their data externally, however, only 10% of those providers do so.
The biggest challenge for companies is the risk they are taking in regards to the privacy issues when they start their data monetization efforts. Using the SIGNIA marketplace, this challenge gets solved as the platform enables enterprises to fetch anonymized data via APIs and offers it to developers to use at a reasonable price. That way, by inviting enterprises and developers to collaborate, the platform enables companies to make their APIs public for any user to purchase for their own purpose.
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This platform has 3 main features:
1. The API catalogue: Corporates can publish their own APIs, browse the existing APIs from other enterprise app development work, and the end users can purchase those APIs. Other features that it includes: Descriptions & Benefits, Code Snippets, Pricing options, Subscribe redirect.
2. Online Hackathons: To attract the large community of developers and service providers SIGNIA offers a platform for online hackathon arrangements. Users can register to various events posted by organizations, create a new event, submit a project for the event and review/test a project.
3. Community: The platform allows users to have exclusive access to different IT job postings, and register in a newsletter facilitating the community efforts between enterprises and developers. Other features include: Community Forum, Careers page, FAQ’s, Live Chat Bot, Living Lab Integration, Co-creation / Innovation hub, Hackathons Posted.
Why Integrate with SIGNIA?
Many barriers might arise when wanting to sell your APIs through a private API portal, such as establishing your pricing schemes, offering virtual payment services, maintenance, and of course limited exposure. But most importantly the real struggle for companies comes to making the invoices. This is because you will get thousands of people around the globe that will try to scam by purchasing with fake credit cards, and this can make the process even more complicated.
Therefore, operational costs and effort might make enterprises’ API selling hard to achieve and unattractive.
This is where SIGNIA comes in. This API marketplace allows providers to allow a very wide exposure to their APIs while it allows you to have free of mind from all other activities such as the marketing aspect that will be needed when a company decides to pursue an API portal instead.
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Another benefit providers get through SIGNIA is the communication with the developers which can encourage the feedback exchange when it comes to usability and hence the improvement for a given API.
Based on Avenga’s research, about 80% of the time allocated from finding an API suitable for a project to actually utilizing it, is spent on discovering it. What this means is that researching individual API portals, finding the right APIs, and then trusting them can slow down the completion of certain projects considerably.
For example, starting any enterprise app development such as a remote patient monitoring platform like SenSights.AI, the need for aggregated data is significant so in this case API marketplaces can be a gold investment.
This is the main benefit developers get with MarkiTech’s SIGNIA platform. They have all the APIs in one page available for them to browse while comparing the features and prices.
Besides that, developers can ask opinions about certain APIs through the forum, but also it opens the door to professional opportunities due to the exclusive career portal that it offers.
Start of the Year Successes for MarkiTech.AI
MarkiTech.AI was selected one of the Top 20 Leading Companies in AI in 2022 by Global Business Leaders, US. Its high capability in catering to the digitization needs of businesses in the healthcare sector has been recognized several times which led to multiple nominations throughout 2021.
Besides this success, MarkiTech.AI also partnered with WELL Health which is Canada’s largest outpatient medical clinic owner-operator and leading multi-disciplinary telehealth service provider.
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