New horizons for digital workers: AI and Data Labeling in emerging markets

By Ruben Galindo, CEO, Airtm

The World Bank estimates that 1.7 billion adults worldwide remain unbanked. At the same time, countries like Venezuela, Zimbabwe, Sudan, Lebanon, Syria, Argentina, Turkey, and Iran suffer from extreme financial volatility that results in inflation rates reaching as high as 114% annually. For individuals living through economic instability of this magnitude, opportunities can seem woefully out of reach, and financial hardships can become increasingly insurmountable.

With the advancement of AI technologies and the rapidly growing need within the data labeling industry, however, individuals living in these developing countries are now discovering pathways more accessible than ever to an increasingly digital global economy.

Much of the emphasis on AI has been placed at the corporate level, focusing on the transformative potential these technologies hold for operational optimisation, the reduction of costs, and the streamlining of complex processes. However, the AI and Data Labeling industry has also begun to impact change on a more personal level, expanding the financial opportunities afforded to an emerging class of flexible and scalable digital workers. This is especially true of those living in areas of the world with historically minimal access to banking services and financial inclusivity. These individuals have long suffered from systemic inequalities in global finance, volatile currencies, and an absence of financial literacy, all of which have contributed to a widening global financial gap.

The AI and Data Labeling Industry, however, has been providing the populations of these developing countries with never-before-possible economic opportunities. With the increasing demand for digital and remote workers, companies across all industries are beginning to tap into a vast reserve of skilled and eager freelancers. These remote workers can participate in the international employment marketplace by using digital payment solutions that enable easy cross-border transactions and facilitate the conversion of volatile local currencies into stable assets like USDC. This grants these workers not only the ability to earn a steady income but also retain more of the value of their earnings by pegging them to the US dollar, preserving their purchasing power against rampant inflation.

Revolutionizing Cross-Border Transactions and Financial Inclusion

Airtm, a connected digital dollar account, represents the future of the digital economy. In a global landscape where traditional banking institutions often fail to meet the needs of every community, Airtm only caters to the online earner community. It offers a unique value with a peer-enabled virtual dollar marketplace. These transactions allow users to send and receive funds directly without intermediaries, significantly reducing costs and enhancing transaction speed and efficiency.

This model benefits those in areas with high remittance fees or where banking infrastructure is severely lacking and empowers these individuals to engage in financial activities that were previously impossible. With their commitment to cultivating a safe, secure, and inclusive marketplace, Airtm has built an ecosystem where users can transact with confidence, encouraging greater participation and trust in the digital global economy amongst those in developing countries.

The future of AI and financial inclusion is looking increasingly bright. As markets continue to adopt AI technologies and employment opportunities expand globally, there will be an increasing need for a more flexible and scalable digital workforce in order to achieve this exponential growth. Platforms like Airtm are creating a financial landscape that is accessible and beneficial to those who the institutional banking complex has previously underserved. By providing companies with direct access to digital freelancers and offering cutting-edge financial solutions to a growing global network of remote workers in emerging markets, Airtm will help usher in a new area of financial inclusion and bring us closer to eliminating the global financial gap.

Ruben Galindo, CEO of Airtm, states, “Airtm enables companies to hire and engage their workforce efficiently in developing economies. By partnering with Data Handling companies, we support critical human input in advancing AI systems while ensuring seamless payments, verification, and real-time collaboration across borders.”